AMETEK, Inc. (AME) To Go Ex-Dividend on June 13th

AMETEK, Inc. (NYSE:AME) announced a quarterly dividend on Thursday, May 8th, RTT News reports. Shareholders 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 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Friday, June 13th.

AMETEK has a dividend payout ratio of 16.3% 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

Shares of AME opened at $179.85 on Wednesday. The firm has a market cap of $41.52 billion, a P/E ratio of 30.33, a PEG ratio of 2.73 and a beta of 1.10. AMETEK has a twelve month low of $145.02 and a twelve month high of $198.33. 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 firm’s 50 day moving average price is $169.72 and its two-hundred day moving average price is $178.55.

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

Wall Street Analyst Weigh In

AME has been the subject of several recent research reports. Royal Bank of Canada upped their price objective on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday, May 2nd. Morgan Stanley assumed coverage on AMETEK in a research report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. Truist Financial raised their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Mizuho set a $212.00 price objective on shares of AMETEK in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $197.89.

Insider Activity

In other AMETEK news, 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 transaction of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company’s stock, valued at approximately $1,865,318.40. This represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is currently owned by insiders.

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.