AMETEK, Inc. (NYSE:AME) – Equities research analysts at Gabelli issued their FY2021 earnings per share (EPS) estimates for AMETEK in a note issued to investors on Tuesday. Gabelli analyst J. Foung anticipates that the technology company will post earnings per share of $3.95 for the year.
Several other analysts also recently weighed in on AME. Robert W. Baird upgraded AMETEK from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $47.00 to $57.00 in a research report on Thursday, December 22nd. Cowen and Company upgraded AMETEK from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 4th. Royal Bank of Canada set a $57.00 price objective on AMETEK and gave the stock a “buy” rating in a research report on Wednesday, January 4th. Atlantic Securities upgraded AMETEK from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $48.00 to $62.00 in a research report on Wednesday, February 15th. Finally, BMO Capital Markets restated a “buy” rating and set a $65.00 price objective on shares of AMETEK in a research report on Monday, March 27th. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $57.25.
AMETEK (NYSE:AME) traded up 0.13% during midday trading on Thursday, hitting $54.84. The stock had a trading volume of 2,161,810 shares. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 25.04 and a beta of 1.11. AMETEK has a 1-year low of $43.28 and a 1-year high of $55.48. The firm has a 50-day moving average price of $54.01 and a 200-day moving average price of $50.41.
AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, February 7th. The technology company reported $0.58 earnings per share for the quarter, meeting the consensus estimate of $0.58. AMETEK had a return on equity of 16.19% and a net margin of 13.34%. The company earned $973 million during the quarter, compared to analysts’ expectations of $969.84 million. During the same period in the prior year, the business earned $0.63 earnings per share. AMETEK’s revenue for the quarter was down 1.5% compared to the same quarter last year.
A number of institutional investors have recently bought and sold shares of the stock. Global X Management Co. LLC increased its position in AMETEK by 122.9% in the third quarter. Global X Management Co. LLC now owns 2,345 shares of the technology company’s stock valued at $112,000 after buying an additional 1,293 shares in the last quarter. Virtus Investment Advisers Inc. purchased a new position in AMETEK during the third quarter valued at approximately $119,000. Benjamin F. Edwards & Company Inc. increased its position in AMETEK by 112.4% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 2,700 shares of the technology company’s stock valued at $129,000 after buying an additional 1,429 shares in the last quarter. Van ECK Associates Corp increased its position in AMETEK by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 2,812 shares of the technology company’s stock valued at $137,000 after buying an additional 131 shares in the last quarter. Finally, SRB Corp increased its position in AMETEK by 5.0% in the third quarter. SRB Corp now owns 3,157 shares of the technology company’s stock valued at $151,000 after buying an additional 149 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.
In other AMETEK news, insider Thomas C. Marecic sold 5,433 shares of the stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $53.48, for a total value of $290,556.84. Following the completion of the transaction, the insider now directly owns 7,578 shares in the company, valued at $405,271.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Joseph Burke sold 14,483 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $55.26, for a total value of $800,330.58. Following the completion of the transaction, the vice president now owns 70,645 shares of the company’s stock, valued at $3,903,842.70. The disclosure for this sale can be found here. Insiders sold 373,288 shares of company stock valued at $20,068,920 over the last quarter. Corporate insiders own 2.00% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were given a $0.09 dividend. The ex-dividend date of this dividend was Wednesday, March 15th. This represents a $0.36 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio is presently 16.44%.
AMETEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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