AMETEK, Inc. (NYSE:AME) Director Gretchen W. Mcclain Sells 1,060 Shares

AMETEK, Inc. (NYSE:AME) Director Gretchen W. Mcclain sold 1,060 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $98.43, for a total value of $104,335.80. Following the completion of the transaction, the director now directly owns 9,901 shares in the company, valued at $974,555.43. The sale was disclosed in a filing with the SEC, which is available through this link.

AME stock traded down $0.67 during midday trading on Tuesday, reaching $96.87. The company had a trading volume of 1,231,715 shares, compared to its average volume of 1,186,482. AMETEK, Inc. has a 1-year low of $63.14 and a 1-year high of $99.74. The stock has a 50 day moving average price of $94.33 and a 200-day moving average price of $89.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.48. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that AMETEK, Inc. will post 4.14 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Thursday, December 5th. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.

AME has been the subject of a number of research reports. KeyCorp lifted their target price on AMETEK from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Bank of America downgraded shares of AMETEK from a “buy” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $95.00 in a research note on Friday, October 11th. Rosenblatt Securities started coverage on shares of AMETEK in a research report on Thursday, November 7th. They set a “buy” rating and a $115.00 price target on the stock. Morgan Stanley set a $102.00 price target on shares of AMETEK and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wolfe Research set a $100.00 price objective on shares of AMETEK and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. AMETEK currently has a consensus rating of “Buy” and a consensus target price of $100.29.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC grew its position in AMETEK by 807.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,423,064 shares of the technology company’s stock worth $129,271,000 after purchasing an additional 1,266,329 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt acquired a new position in AMETEK in the third quarter valued at approximately $76,899,000. JPMorgan Chase & Co. boosted its stake in AMETEK by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 4,896,915 shares of the technology company’s stock valued at $432,202,000 after acquiring an additional 749,865 shares during the period. UBS Group AG grew its holdings in shares of AMETEK by 417.2% during the second quarter. UBS Group AG now owns 681,116 shares of the technology company’s stock valued at $61,872,000 after purchasing an additional 549,417 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of AMETEK by 34.3% during the second quarter. Invesco Ltd. now owns 1,579,503 shares of the technology company’s stock valued at $143,482,000 after purchasing an additional 403,704 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.

About AMETEK

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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