AMETEK, Inc. (NYSE:AME) Director Elizebeth R. Varet sold 3,740 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $79.77, for a total transaction of $298,339.80. Following the transaction, the director now directly owns 108,550 shares in the company, valued at $8,659,033.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
AME stock traded down $0.55 during trading on Thursday, hitting $79.26. The company had a trading volume of 1,051,955 shares, compared to its average volume of 1,412,836. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.46 and a quick ratio of 0.96. The firm has a market cap of $18.35 billion, a price-to-earnings ratio of 24.09, a P/E/G ratio of 2.09 and a beta of 1.20. AMETEK, Inc. has a fifty-two week low of $63.14 and a fifty-two week high of $81.92.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, February 5th. The technology company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.26 billion. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. AMETEK’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.70 EPS. On average, research analysts anticipate that AMETEK, Inc. will post 3.94 earnings per share for the current year.
AMETEK announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 13th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
AME has been the subject of several recent research reports. Zacks Investment Research raised shares of AMETEK from a “hold” rating to a “buy” rating and set a $84.00 price objective for the company in a research note on Friday, February 8th. BMO Capital Markets restated a “buy” rating and set a $90.00 target price on shares of AMETEK in a research report on Tuesday, January 29th. Wolfe Research upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating in a report on Tuesday, January 8th. Stephens reissued a “buy” rating and set a $79.00 target price on shares of AMETEK in a research report on Sunday, January 6th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $82.00 target price on shares of AMETEK in a research note on Wednesday, December 19th. Twelve analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and a consensus price target of $86.10.
A number of hedge funds have recently made changes to their positions in AME. Oregon Public Employees Retirement Fund boosted its stake in AMETEK by 6,587.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock worth $25,000 after purchasing an additional 1,676,926 shares in the last quarter. IFP Advisors Inc boosted its stake in AMETEK by 76.4% in the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock worth $29,000 after purchasing an additional 191 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new position in AMETEK in the fourth quarter worth $32,000. SRS Capital Advisors Inc. boosted its stake in AMETEK by 183.7% in the fourth quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock worth $51,000 after purchasing an additional 485 shares in the last quarter. Finally, Financial Gravity Companies Inc. acquired a new position in AMETEK in the fourth quarter worth $65,000. 82.69% of the stock is currently owned by institutional investors and hedge funds.
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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.
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