Traders Sell AMETEK (AME) on Strength on Insider Selling

Traders sold shares of AMETEK, Inc. (NYSE:AME) on strength during trading on Friday after an insider sold shares in the company. $19.08 million flowed into the stock on the tick-up and $129.85 million flowed out of the stock on the tick-down, for a money net flow of $110.77 million out of the stock. Of all equities tracked, AMETEK had the 12th highest net out-flow for the day. AMETEK traded up $1.10 for the day and closed at $79.01Specifically, Director Elizebeth R. Varet sold 2,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $80.75, for a total value of $161,500.00. Following the completion of the transaction, the director now directly owns 104,810 shares in the company, valued at $8,463,407.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizebeth R. Varet sold 1,950 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $78.38, for a total value of $152,841.00. Following the completion of the transaction, the director now owns 104,810 shares of the company’s stock, valued at $8,215,007.80. The disclosure for this sale can be found here. Insiders sold 25,097 shares of company stock valued at $1,983,537 over the last quarter. Insiders own 2.00% of the company’s stock.

Several equities analysts recently commented on AME shares. BMO Capital Markets reiterated a “buy” rating and issued a $90.00 target price on shares of AMETEK in a research note on Tuesday, January 29th. Stephens restated a “buy” rating and set a $79.00 price target on shares of AMETEK in a research note on Sunday, January 6th. Cowen restated a “buy” rating and set a $91.00 price target on shares of AMETEK in a research note on Wednesday, December 12th. Royal Bank of Canada restated a “buy” rating and set a $82.00 price target on shares of AMETEK in a research note on Wednesday, December 19th. Finally, ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Tuesday, November 6th. Twelve research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $86.10.

The company has a market capitalization of $18.08 billion, a P/E ratio of 24.02, a PEG ratio of 2.10 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.46 and a quick ratio of 0.96.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, February 5th. The technology company reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. The firm’s revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. On average, research analysts forecast that AMETEK, Inc. will post 3.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.71%. The ex-dividend date of this dividend is Thursday, March 14th. AMETEK’s payout ratio is 17.02%.

AMETEK announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 13th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 2.8% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Several hedge funds and other institutional investors have recently modified their holdings of AME. Advisors Asset Management Inc. purchased a new stake in shares of AMETEK in the second quarter worth about $168,000. Atria Investments LLC purchased a new stake in shares of AMETEK in the third quarter worth about $541,000. Bank of Montreal Can boosted its position in shares of AMETEK by 29.4% in the third quarter. Bank of Montreal Can now owns 435,998 shares of the technology company’s stock worth $34,496,000 after buying an additional 99,020 shares during the period. First Hawaiian Bank purchased a new stake in shares of AMETEK in the third quarter worth about $931,000. Finally, BB&T Corp boosted its position in shares of AMETEK by 4.0% in the third quarter. BB&T Corp now owns 27,103 shares of the technology company’s stock worth $2,144,000 after buying an additional 1,045 shares during the period. 85.24% of the stock is owned by institutional investors.

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AMETEK Company Profile (NYSE:AME)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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