AMETEK, Inc. Plans Quarterly Dividend of $0.14 (AME)

AMETEK, Inc. (NYSE:AME) declared a quarterly dividend on Wednesday, February 13th, RTT News reports. Stockholders of record on Friday, March 15th will be given a dividend of 0.14 per share by the technology company on Friday, March 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.71%.

AMETEK has raised its dividend by an average of 15.9% annually over the last three years. AMETEK has a dividend payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AMETEK to earn $4.13 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 13.6%.

Shares of AME stock traded up $1.12 on Wednesday, reaching $78.46. The stock had a trading volume of 11,791 shares, compared to its average volume of 1,383,255. The company has a market cap of $17.95 billion, a P/E ratio of 23.78, a price-to-earnings-growth ratio of 2.02 and a beta of 1.20. AMETEK has a 1 year low of $63.14 and a 1 year high of $81.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.46 and a quick ratio of 0.96.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 5th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.02. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.26 billion. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. As a group, analysts expect that AMETEK will post 3.92 earnings per share for the current year.

In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $80.75, for a total transaction of $161,500.00. Following the sale, the director now directly owns 104,810 shares of the company’s stock, valued at $8,463,407.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Elizebeth R. Varet sold 1,950 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $78.38, for a total value of $152,841.00. Following the sale, the director now directly owns 104,810 shares in the company, valued at $8,215,007.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 8,000 shares of company stock worth $632,874. 2.00% of the stock is owned by insiders.

AME has been the topic of a number of recent research reports. ValuEngine cut AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, October 23rd. BMO Capital Markets decreased their target price on AMETEK from $93.00 to $91.00 and set an “outperform” rating on the stock in a report on Friday, November 2nd. Robert W. Baird raised their target price on AMETEK from $82.00 to $84.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. Morgan Stanley decreased their target price on AMETEK from $84.00 to $81.00 and set an “equal weight” rating on the stock in a report on Monday, November 5th. Finally, Stephens initiated coverage on AMETEK in a report on Monday, November 19th. They issued an “overweight” rating and a $87.00 target price on the stock. Twelve analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $86.10.

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AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

See Also: Compound Annual Growth Rate (CAGR)

Dividend History for AMETEK (NYSE:AME)

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