AMETEK, Inc. (NYSE:AME) Director Elizebeth R. Varet Sells 1,000 Shares of Stock

AMETEK, Inc. (NYSE:AME) Director Elizebeth R. Varet sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $96.50, for a total transaction of $96,500.00. Following the sale, the director now directly owns 89,670 shares in the company, valued at $8,653,155. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Shares of NYSE:AME opened at $96.54 on Friday. AMETEK, Inc. has a 52 week low of $63.14 and a 52 week high of $97.30. The company’s 50 day moving average is $90.22 and its two-hundred day moving average is $87.83. The company has a current ratio of 2.05, a quick ratio of 1.48 and a debt-to-equity ratio of 0.46. The company has a market cap of $22.00 billion, a PE ratio of 29.34, a P/E/G ratio of 2.13 and a beta of 1.20.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm posted $0.91 EPS. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. As a group, equities research analysts expect that AMETEK, Inc. will post 4.14 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s dividend payout ratio is presently 17.02%.

Several large investors have recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of AMETEK by 29.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 15,800 shares of the technology company’s stock valued at $1,435,000 after purchasing an additional 3,600 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in shares of AMETEK by 7.3% in the 2nd quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,027 shares of the technology company’s stock worth $275,000 after acquiring an additional 205 shares during the period. CENTRAL TRUST Co lifted its stake in shares of AMETEK by 4.6% in the 2nd quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock worth $278,000 after acquiring an additional 137 shares during the period. Private Trust Co. NA acquired a new stake in shares of AMETEK in the 2nd quarter worth $421,000. Finally, BTIM Corp. lifted its stake in shares of AMETEK by 1.2% in the 2nd quarter. BTIM Corp. now owns 83,750 shares of the technology company’s stock worth $7,608,000 after acquiring an additional 975 shares during the period. 86.51% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on the stock. Morgan Stanley set a $102.00 target price on shares of AMETEK and gave the stock a “buy” rating in a research note on Friday, November 1st. Rosenblatt Securities assumed coverage on shares of AMETEK in a research note on Thursday. They set a “buy” rating and a $115.00 target price on the stock. KeyCorp upped their target price on shares of AMETEK from $94.00 to $100.00 in a research note on Wednesday, July 31st. Oppenheimer upped their target price on shares of AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $97.62.

About AMETEK

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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