AMETEK, Inc. (NYSE:AME) to Issue $0.31 Quarterly Dividend

AMETEK, Inc. (NYSE:AME) announced a quarterly dividend on Thursday, May 8th, RTT News reports. Stockholders of record on Friday, June 13th will be paid 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 0.72%.

AMETEK has increased its dividend by an average of 11.9% annually over the last three years. AMETEK has a dividend payout ratio of 16.1% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

AMETEK stock opened at $171.57 on Friday. AMETEK has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The stock’s 50 day simple moving average is $168.74 and its two-hundred day simple moving average is $179.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The stock has a market cap of $39.61 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.73 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on AME shares. Morgan Stanley started coverage on shares of AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target on the stock. Truist Financial lifted their target price on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. Finally, Royal Bank of Canada raised their price objective on shares of AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $196.90.

AMETEK declared that its Board of Directors has initiated a share buyback program on Friday, February 7th that permits the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were 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 in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.57% of the company’s stock.

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.