AMETEK, Inc. Announces Quarterly Dividend of $0.31 (NYSE:AME)

AMETEK, Inc. (NYSE:AME) announced a quarterly dividend on Thursday, May 8th, RTT News reports. Stockholders of record on Friday, June 13th will be given a dividend of 0.31 per share by the technology company on Monday, June 30th. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th.

AMETEK has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AMETEK to earn $7.73 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 16.0%.

AMETEK Stock Up 0.7%

AME stock opened at $179.85 on Wednesday. AMETEK has a 1-year low of $145.02 and a 1-year high of $198.33. The business’s 50 day simple moving average is $169.72 and its 200 day simple moving average is $178.55. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $41.52 billion, a PE ratio of 30.33, a PEG ratio of 2.73 and a beta of 1.10.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.64 earnings per share. As a group, research analysts anticipate that AMETEK will post 7.15 EPS for the current year.

Insider Buying and Selling

In other AMETEK news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. The trade was a 6.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Mizuho set a $212.00 target price on AMETEK in a research report on Friday, May 16th. Robert W. Baird dropped their price target on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Morgan Stanley assumed coverage on AMETEK in a research note on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price target for the company. Finally, Truist Financial increased their price objective on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average price target of $197.89.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. 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; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.