AMETEK, Inc. (NYSE:AME) Declares $0.28 Quarterly Dividend

AMETEK, Inc. (NYSE:AME) announced a quarterly dividend on Thursday, May 9th, RTT News reports. Investors of record on Friday, June 14th will be paid a dividend of 0.28 per share by the technology company on Friday, June 28th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%.

AMETEK has increased its dividend payment by an average of 11.6% annually over the last three years and has increased its dividend every year for the last 5 years. AMETEK has a dividend payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect AMETEK to earn $7.46 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 15.0%.

AMETEK Trading Down 0.3 %

Shares of NYSE:AME opened at $169.14 on Thursday. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32. The company’s fifty day simple moving average is $179.26 and its 200 day simple moving average is $166.69. The firm has a market cap of $39.15 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same period in the previous year, the business earned $1.49 EPS. The company’s revenue was up 9.0% compared to the same quarter last year. As a group, research analysts forecast that AMETEK will post 6.81 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,400 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares of the company’s stock, valued at approximately $5,066,271.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William Joseph Burke sold 17,437 shares of the business’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,881 shares of company stock valued at $10,689,758. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Robert W. Baird lowered their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Royal Bank of Canada lowered their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Truist Financial began coverage on shares of AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, KeyCorp lifted 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $179.80.

AMETEK Company Profile

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.