AMETEK, Inc. Announces Quarterly Dividend of $0.14 (AME)

AMETEK, Inc. (NYSE:AME) announced a quarterly dividend on Friday, May 10th, RTT News reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.14 per share by the technology company on Friday, June 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.65%.

AMETEK has increased its dividend by an average of 15.9% annually over the last three years. AMETEK has a payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect AMETEK to earn $4.35 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.9%.

Shares of NYSE:AME opened at $85.58 on Friday. AMETEK has a twelve month low of $63.14 and a twelve month high of $88.76. The firm has a market capitalization of $19.47 billion, a PE ratio of 26.01, a price-to-earnings-growth ratio of 2.18 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.91 and a quick ratio of 1.27.

AMETEK (NYSE:AME) last announced its earnings results on Wednesday, May 1st. The technology company reported $1.00 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. AMETEK had a return on equity of 18.56% and a net margin of 16.14%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same period last year, the company posted $0.79 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that AMETEK will post 4.07 earnings per share for the current year.

In other AMETEK news, insider Timothy N. Jones sold 5,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the transaction, the insider now owns 37,177 shares in the company, valued at $3,055,949.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dennis K. Williams sold 1,570 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $87.00, for a total value of $136,590.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 113,133 shares of company stock valued at $9,017,070. Corporate insiders own 0.80% of the company’s stock.

A number of analysts have recently weighed in on the company. Vertical Research restated a “buy” rating on shares of AMETEK in a research note on Friday, May 3rd. Zacks Investment Research upgraded AMETEK from a “hold” rating to a “buy” rating and set a $84.00 target price for the company in a research note on Friday, February 8th. KeyCorp lifted their price objective on AMETEK from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. BMO Capital Markets lifted their price objective on AMETEK from $99.00 to $101.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Finally, DA Davidson lifted their price objective on AMETEK to $101.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Fourteen research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $90.18.

AMETEK announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 13th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the technology company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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AMETEK Company Profile

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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Dividend History for AMETEK (NYSE:AME)

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