AMETEK, Inc. (NYSE:AME) declared a quarterly dividend on Friday, August 2nd, RTT News reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.14 per share by the technology company on Monday, September 30th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date is Friday, September 13th.
AMETEK has increased its dividend payment by an average of 15.9% per year over the last three years. AMETEK has a payout ratio of 17.4% meaning its dividend is sufficiently covered by earnings. Analysts expect AMETEK to earn $4.35 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.9%.
Shares of AME stock opened at $88.40 on Wednesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.17 and a quick ratio of 1.53. The firm has a market cap of $20.50 billion, a P/E ratio of 26.87, a PEG ratio of 2.29 and a beta of 1.21. AMETEK has a 1-year low of $63.14 and a 1-year high of $92.30. The firm’s 50-day simple moving average is $86.57 and its 200-day simple moving average is $85.41.
A number of analysts have recently weighed in on the stock. KeyCorp raised their price target on shares of AMETEK from $94.00 to $100.00 in a research report on Wednesday, July 31st. Royal Bank of Canada set a $95.00 price target on AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Thursday, June 13th. Oppenheimer upped their price objective on AMETEK from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Finally, ValuEngine lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $94.36.
In related news, Director Elizebeth R. Varet sold 4,000 shares of AMETEK stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $85.69, for a total value of $342,760.00. Following the sale, the director now directly owns 95,670 shares in the company, valued at approximately $8,197,962.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Elizebeth R. Varet sold 2,000 shares of AMETEK stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $84.90, for a total transaction of $169,800.00. Following the completion of the sale, the director now owns 99,670 shares in the company, valued at $8,461,983. The disclosure for this sale can be found here. Insiders sold 35,250 shares of company stock worth $3,055,356 in the last three months. 0.80% of the stock is currently owned by corporate insiders.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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