AMETEK, Inc. (AME) Plans Dividend Increase – $0.14 Per Share
AMETEK, Inc. (NYSE:AME) declared a quarterly dividend on Thursday, February 1st, RTT News reports. Stockholders of record on Friday, March 16th will be given a dividend of 0.14 per share by the technology company on Thursday, March 29th. This represents a $0.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date is Thursday, March 15th. This is a boost from AMETEK’s previous quarterly dividend of $0.09.
AMETEK has raised its dividend payment by an average of 2.9% per year over the last three years. AMETEK has a dividend payout ratio of 14.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect AMETEK to earn $3.33 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 10.8%.
AMETEK (NYSE AME) opened at $78.38 on Wednesday. AMETEK has a fifty-two week low of $52.42 and a fifty-two week high of $79.32. The company has a current ratio of 1.70, a quick ratio of 1.22 and a debt-to-equity ratio of 0.46. The stock has a market cap of $18,125.06, a PE ratio of 30.02, a PEG ratio of 2.24 and a beta of 1.27.
In other AMETEK news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $75.85, for a total value of $227,550.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP William D. Eginton sold 16,368 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $77.00, for a total value of $1,260,336.00. Following the completion of the sale, the vice president now owns 59,054 shares in the company, valued at approximately $4,547,158. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,604 shares of company stock worth $5,742,548. 2.10% of the stock is owned by corporate insiders.
Several equities analysts have recently issued reports on AME shares. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a report on Monday, February 5th. Cowen reiterated a “buy” rating and issued a $80.00 price target on shares of AMETEK in a report on Friday, December 22nd. Oppenheimer reiterated a “buy” rating and issued a $75.00 price target on shares of AMETEK in a report on Thursday, December 21st. BMO Capital Markets reiterated a “buy” rating and issued a $80.00 price target on shares of AMETEK in a report on Monday, December 11th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of AMETEK in a report on Monday, December 11th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $81.64.
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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