AMETEK, Inc. (NYSE:AME) Announces Quarterly Dividend of $0.22

AMETEK, Inc. (NYSE:AMEGet Rating) announced a quarterly dividend on Friday, August 5th, RTT News reports. Shareholders of record on Wednesday, September 14th will be paid a dividend of 0.22 per share by the technology company on Friday, September 30th. This represents a $0.88 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Tuesday, September 13th.

AMETEK has increased its dividend payment by an average of 12.6% per year over the last three years and has raised its dividend every year for the last 3 years. AMETEK has a dividend payout ratio of 15.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AMETEK to earn $5.84 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 15.1%.

AMETEK Stock Performance

NYSE AME opened at $125.78 on Friday. The company’s 50 day moving average is $120.45 and its 200-day moving average is $122.89. AMETEK has a 12-month low of $106.17 and a 12-month high of $148.07. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.31. The firm has a market cap of $28.88 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26.

AMETEK (NYSE:AMEGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.09. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the previous year, the firm posted $1.15 earnings per share. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. Sell-side analysts predict that AMETEK will post 5.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating on shares of AMETEK in a research report on Wednesday, August 3rd. Mizuho upped their target price on shares of AMETEK from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Thursday. Morgan Stanley upped their target price on shares of AMETEK from $135.00 to $145.00 and gave the stock an “overweight” rating in a report on Wednesday, August 3rd. Finally, Loop Capital decreased their target price on shares of AMETEK from $170.00 to $155.00 and set a “buy” rating on the stock in a report on Tuesday, July 19th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total value of $383,625.00. Following the completion of the transaction, the director now owns 42,864 shares of the company’s stock, valued at approximately $5,304,420. The transaction was disclosed in a filing with the SEC, which is available through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total value of $383,625.00. Following the completion of the transaction, the director now owns 42,864 shares of the company’s stock, valued at approximately $5,304,420. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $126.81, for a total transaction of $380,430.00. Following the completion of the transaction, the director now directly owns 45,964 shares of the company’s stock, valued at approximately $5,828,694.84. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On AMETEK

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of AMETEK by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company’s stock valued at $3,277,369,000 after purchasing an additional 463,926 shares in the last quarter. Invesco Ltd. boosted its stake in shares of AMETEK by 8.5% in the 1st quarter. Invesco Ltd. now owns 2,830,036 shares of the technology company’s stock valued at $376,904,000 after purchasing an additional 222,881 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of AMETEK by 22.2% in the 1st quarter. Wellington Management Group LLP now owns 2,054,304 shares of the technology company’s stock valued at $273,593,000 after purchasing an additional 373,148 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of AMETEK by 45.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,549,101 shares of the technology company’s stock valued at $206,310,000 after purchasing an additional 485,407 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of AMETEK by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,136,090 shares of the technology company’s stock valued at $151,305,000 after purchasing an additional 27,585 shares in the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.

AMETEK Company Profile

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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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Dividend History for AMETEK (NYSE:AME)

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