AMETEK (NYSE:AME) Reaches New 12-Month High at $90.28

AMETEK, Inc. (NYSE:AME)’s stock price hit a new 52-week high during trading on Friday . The stock traded as high as $90.28 and last traded at $90.23, with a volume of 118395 shares. The stock had previously closed at $88.26.

Several brokerages have recently commented on AME. Zacks Investment Research upgraded shares of AMETEK from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Thursday, June 13th. Berenberg Bank began coverage on shares of AMETEK in a research report on Wednesday, May 15th. They set a “buy” rating and a $100.00 price target for the company. Morgan Stanley set a $95.00 price target on shares of AMETEK and gave the stock a “buy” rating in a research report on Friday, May 3rd. Vertical Research reiterated a “buy” rating on shares of AMETEK in a research report on Friday, May 3rd. Finally, BMO Capital Markets boosted their price objective on shares of AMETEK from $99.00 to $101.00 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Fifteen equities research analysts have rated the stock with a buy rating, AMETEK has a consensus rating of “Buy” and a consensus target price of $91.50.

The stock has a market cap of $20.70 billion, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.32 and a beta of 1.21. The stock’s fifty day moving average is $85.47. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.27 and a current ratio of 1.91.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.28 billion. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.79 earnings per share. On average, sell-side analysts forecast that AMETEK, Inc. will post 4.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Thursday, June 13th. AMETEK’s dividend payout ratio is currently 17.02%.

In other news, VP Thomas M. Montgomery sold 5,602 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $88.50, for a total value of $495,777.00. Following the completion of the transaction, the vice president now owns 26,419 shares in the company, valued at $2,338,081.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO William Joseph Burke sold 16,322 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $86.51, for a total transaction of $1,412,016.22. Following the completion of the transaction, the chief financial officer now owns 86,727 shares of the company’s stock, valued at approximately $7,502,752.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,370 shares of company stock valued at $8,072,702. Corporate insiders own 0.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Dudley & Shanley Inc. boosted its holdings in shares of AMETEK by 54.4% in the first quarter. Dudley & Shanley Inc. now owns 51,849 shares of the technology company’s stock valued at $4,302,000 after buying an additional 18,275 shares during the period. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of AMETEK by 1.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 39,907 shares of the technology company’s stock valued at $3,311,000 after buying an additional 600 shares during the period. Origin Asset Management LLP acquired a new position in shares of AMETEK in the first quarter valued at approximately $14,271,000. Gotham Asset Management LLC boosted its holdings in shares of AMETEK by 10.8% in the fourth quarter. Gotham Asset Management LLC now owns 172,158 shares of the technology company’s stock valued at $11,655,000 after buying an additional 16,829 shares during the period. Finally, Mawer Investment Management Ltd. boosted its holdings in shares of AMETEK by 1.1% in the first quarter. Mawer Investment Management Ltd. now owns 2,983,062 shares of the technology company’s stock valued at $247,507,000 after buying an additional 33,839 shares during the period. Institutional investors own 85.73% of the company’s stock.

About AMETEK (NYSE:AME)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control 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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