AMETEK, Inc. (NYSE:AME) Insider David F. Hermance Sells 6,243 Shares of Stock

AMETEK, Inc. (NYSE:AME) insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

AMETEK Stock Performance

Shares of AME opened at $194.01 on Wednesday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm’s fifty day simple moving average is $171.32 and its two-hundred day simple moving average is $169.25. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $194.27. The stock has a market capitalization of $44.88 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 3.11 and a beta of 1.16.

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

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

Institutional Investors Weigh In On AMETEK

A number of large investors have recently bought and sold shares of AME. JPMorgan Chase & Co. boosted its position in shares of AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares during the period. Meridiem Investment Management Ltd. bought a new position in AMETEK in the third quarter worth approximately $130,579,000. Principal Financial Group Inc. grew its stake in AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares during the period. Finally, James Hambro & Partners LLP bought a new stake in shares of AMETEK during the third quarter valued at approximately $60,188,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on AME. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird upped their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Mizuho lifted their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

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.