AMETEK, Inc. (AME) Insider Frank S. Hermance Sells 150,840 Shares
AMETEK, Inc. (NYSE:AME) insider Frank S. Hermance sold 150,840 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total value of $10,012,759.20. Following the completion of the sale, the insider now directly owns 2,191,341 shares in the company, valued at approximately $145,461,215.58. The sale was disclosed in a legal filing with the SEC, which is available through this link.
AMETEK, Inc. (NYSE:AME) traded down 0.44% during midday trading on Thursday, hitting $66.11. The stock had a trading volume of 860,916 shares. The company’s 50-day moving average price is $63.58 and its 200 day moving average price is $59.77. The company has a market capitalization of $15.26 billion, a PE ratio of 29.01 and a beta of 1.31. AMETEK, Inc. has a 52 week low of $43.98 and a 52 week high of $66.70.
AMETEK (NYSE:AME) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. AMETEK had a return on equity of 17.25% and a net margin of 14.13%. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. On average, analysts expect that AMETEK, Inc. will post $2.52 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, September 14th. AMETEK’s dividend payout ratio is presently 15.79%.
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Several hedge funds have recently modified their holdings of the business. IHT Wealth Management LLC acquired a new stake in shares of AMETEK during the 2nd quarter valued at $194,000. Commonwealth Bank of Australia boosted its holdings in shares of AMETEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after acquiring an additional 263 shares in the last quarter. Sandy Spring Bank boosted its holdings in shares of AMETEK by 4.1% during the 1st quarter. Sandy Spring Bank now owns 1,847 shares of the technology company’s stock valued at $262,000 after acquiring an additional 72 shares in the last quarter. BB&T Investment Services Inc. acquired a new stake in shares of AMETEK during the 2nd quarter valued at $107,000. Finally, Independence Advisors LLC acquired a new stake in shares of AMETEK during the 2nd quarter valued at $299,000. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have issued reports on AME. BidaskClub downgraded AMETEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $67.00 price objective on shares of AMETEK in a research report on Tuesday, June 6th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $65.27.
AMETEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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