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.
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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