AMETEK (NYSE:AME) Sets New 52-Week High – Here’s What Happened

Shares of AMETEK, Inc. (NYSE:AME) reached a new 52-week high during trading on Wednesday . The stock traded as high as $189.86 and last traded at $187.84, with a volume of 79149 shares changing hands. The stock had previously closed at $182.02.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AME. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday. Robert W. Baird raised their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Truist Financial increased their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $197.86.

AMETEK Trading Up 4.6 %

The company’s 50 day moving average price is $169.69 and its two-hundred day moving average price is $168.91. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market capitalization of $44.02 billion, a PE ratio of 31.71, a P/E/G ratio of 2.91 and a beta of 1.16.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $1.64 earnings per share. As a group, analysts expect that AMETEK, Inc. will post 6.81 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.51%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AME. Washington Trust Advisors Inc. acquired a new position in AMETEK during the first quarter worth $37,000. Family Firm Inc. acquired a new position in AMETEK during the second quarter worth $39,000. Industrial Alliance Investment Management Inc. acquired a new position in AMETEK during the second quarter worth $42,000. Headlands Technologies LLC acquired a new position in AMETEK during the first quarter worth $43,000. Finally, Princeton Global Asset Management LLC acquired a new position in AMETEK during the third quarter worth $44,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.