AMETEK, Inc. (NYSE:AME) saw a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,980,000 shares, a decrease of 11.6% from the December 15th total of 2,240,000 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is presently 2.0 days.
Shares of AMETEK stock traded up $0.48 during trading on Tuesday, hitting $101.31. 349,393 shares of the company’s stock were exchanged, compared to its average volume of 738,892. The stock has a market capitalization of $23.03 billion, a price-to-earnings ratio of 30.79, a PEG ratio of 2.10 and a beta of 1.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.48 and a current ratio of 2.05. The business has a 50-day simple moving average of $99.52 and a 200-day simple moving average of $92.18. AMETEK has a 52-week low of $69.51 and a 52-week high of $102.31.
AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.01 by $0.05. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The business had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the business earned $0.91 earnings per share. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, equities analysts anticipate that AMETEK will post 4.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.14 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.56 annualized dividend and a dividend yield of 0.55%. AMETEK’s dividend payout ratio (DPR) is 17.02%.
A number of research analysts have issued reports on the stock. ValuEngine cut shares of AMETEK from a “hold” rating to a “sell” rating in a report on Tuesday. Cowen cut shares of AMETEK from an “outperform” rating to a “market perform” rating in a report on Monday. KeyCorp raised their price target on shares of AMETEK from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Gordon Haskett assumed coverage on shares of AMETEK in a report on Wednesday, November 27th. They issued a “buy” rating and a $125.00 price target for the company. Finally, Wolfe Research cut shares of AMETEK from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $103.25.
In other AMETEK news, Director Elizebeth R. Varet sold 2,000 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $99.90, for a total value of $199,800.00. Following the completion of the transaction, the director now owns 83,670 shares of the company’s stock, valued at $8,358,633. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ruby R. Chandy sold 3,376 shares of the firm’s stock in a transaction on Friday, December 27th. The stock was sold at an average price of $99.98, for a total transaction of $337,532.48. Following the completion of the transaction, the director now directly owns 16,920 shares of the company’s stock, valued at approximately $1,691,661.60. The disclosure for this sale can be found here. Insiders have sold 60,506 shares of company stock valued at $5,886,221 in the last three months. 0.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new position in AMETEK during the second quarter worth about $27,000. Shine Investment Advisory Services Inc. raised its stake in AMETEK by 67.8% during the third quarter. Shine Investment Advisory Services Inc. now owns 302 shares of the technology company’s stock worth $28,000 after purchasing an additional 122 shares during the period. Capital Bank & Trust Co purchased a new position in AMETEK during the second quarter worth about $29,000. Parallel Advisors LLC raised its stake in AMETEK by 30.7% during the third quarter. Parallel Advisors LLC now owns 596 shares of the technology company’s stock worth $55,000 after purchasing an additional 140 shares during the period. Finally, CSat Investment Advisory L.P. raised its stake in AMETEK by 197.6% during the second quarter. CSat Investment Advisory L.P. now owns 613 shares of the technology company’s stock worth $56,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 85.97% of the company’s stock.
AMETEK Company Profile
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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