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

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

AMETEK Price Performance

NYSE:AME opened at $195.42 on Thursday. The company has a market cap of $45.20 billion, a P/E ratio of 34.05, a P/E/G ratio of 3.17 and a beta of 1.16. The firm’s fifty day moving average price is $171.87 and its two-hundred day moving average price is $169.36. AMETEK, Inc. has a one year low of $149.03 and a one year high of $196.70. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

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

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s payout ratio is currently 19.51%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Empowered Funds LLC grew its stake in shares of AMETEK by 14.7% in the first quarter. Empowered Funds LLC now owns 9,064 shares of the technology company’s stock valued at $1,658,000 after acquiring an additional 1,162 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of AMETEK during the first quarter worth approximately $43,000. QRG Capital Management Inc. raised its position in shares of AMETEK by 4.8% in the first quarter. QRG Capital Management Inc. now owns 10,910 shares of the technology company’s stock valued at $1,995,000 after buying an additional 496 shares in the last quarter. Qsemble Capital Management LP bought a new stake in shares of AMETEK in the first quarter valued at approximately $510,000. Finally, Russell Investments Group Ltd. grew its position in AMETEK by 1.7% during the first quarter. Russell Investments Group Ltd. now owns 90,724 shares of the technology company’s stock worth $16,609,000 after buying an additional 1,522 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AME has been the subject of several recent research reports. Truist Financial increased their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Robert W. Baird increased their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $197.86.

About AMETEK

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.