AMETEK (NYSE:AME) updated its second quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $1.08-1.10 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.03. AMETEK also updated its FY 2021 guidance to 4.480-4.560 EPS.
A number of brokerages have recently issued reports on AME. Morgan Stanley upped their price target on AMETEK from $133.00 to $135.00 and gave the stock an overweight rating in a research report on Monday, April 19th. Wells Fargo & Company upped their price target on AMETEK from $140.00 to $160.00 and gave the stock an overweight rating in a research report on Monday, April 26th. KeyCorp upped their target price on AMETEK from $140.00 to $141.00 and gave the company an overweight rating in a research report on Monday, April 19th. DA Davidson reissued a buy rating on shares of AMETEK in a research report on Tuesday, February 9th. Finally, Zacks Investment Research raised AMETEK from a hold rating to a buy rating and set a $140.00 target price on the stock in a research report on Friday, April 16th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $128.86.
NYSE:AME traded up $1.72 during mid-day trading on Tuesday, hitting $136.03. The company’s stock had a trading volume of 1,358,120 shares, compared to its average volume of 1,007,180. AMETEK has a 1 year low of $75.22 and a 1 year high of $137.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.88 and a quick ratio of 1.47. The stock has a market cap of $31.40 billion, a price-to-earnings ratio of 35.99, a PEG ratio of 3.73 and a beta of 1.36. The business’s fifty day moving average is $129.55 and its two-hundred day moving average is $120.16.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 0.59%. This is a positive change from AMETEK’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Friday, March 12th. AMETEK’s dividend payout ratio is presently 19.09%.
In other news, Director Anthony James Conti sold 740 shares of the stock in a transaction dated Thursday, March 25th. The shares were sold at an average price of $121.43, for a total transaction of $89,858.20. Following the sale, the director now directly owns 25,538 shares of the company’s stock, valued at approximately $3,101,079.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Thomas C. Marecic sold 19,240 shares of the stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $125.70, for a total transaction of $2,418,468.00. Following the sale, the insider now directly owns 46,646 shares in the company, valued at $5,863,402.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,128 shares of company stock worth $4,670,688. 0.74% of the stock is owned by corporate insiders.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical 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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