AMETEK, Inc. (NYSE:AME) Director Steven W. Kohlhagen Sells 1,470 Shares

AMETEK, Inc. (NYSE:AME) Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

AMETEK Price Performance

Shares of AMETEK stock traded down $0.86 during trading on Thursday, hitting $168.77. 328,567 shares of the company’s stock traded hands, compared to its average volume of 981,415. AMETEK, Inc. has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a market cap of $39.07 billion, a PE ratio of 29.63, a PEG ratio of 2.72 and a beta of 1.21. The firm’s fifty day moving average price is $178.01 and its 200 day moving average price is $167.74. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the firm earned $1.49 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Analysts forecast that AMETEK, Inc. will post 6.84 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date is Friday, June 14th. AMETEK’s dividend payout ratio is 19.68%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. acquired a new position in shares of AMETEK during the 4th quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in AMETEK in the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of AMETEK in the 4th quarter valued at $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AMETEK in the 4th quarter valued at $31,000. Institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AME. Robert W. Baird dropped their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Truist Financial initiated coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. Royal Bank of Canada dropped their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. KeyCorp raised their price objective on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Finally, StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $179.80.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.