AMETEK, Inc. (AME) to Issue Quarterly Dividend of $0.31 on March 31st

AMETEK, Inc. (NYSE:AME) announced a quarterly dividend on Friday, February 7th, RTT News reports. Stockholders of record on Friday, March 14th will be given a dividend of 0.31 per share by the technology company on Monday, March 31st. This represents a $1.24 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, March 14th. This is a 10.7% increase from AMETEK’s previous quarterly dividend of $0.28.

AMETEK has raised its dividend payment by an average of 11.9% per year over the last three years. AMETEK has a dividend payout ratio of 15.9% 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 Down 0.1 %

AME opened at $179.16 on Wednesday. The business’s 50-day moving average price is $183.33 and its 200-day moving average price is $180.21. AMETEK has a 12 month low of $149.03 and a 12 month high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The company has a market cap of $41.33 billion, a P/E ratio of 30.21, a P/E/G ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.68 EPS. On average, equities analysts expect that AMETEK will post 7.15 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on AME. Truist Financial lifted their price objective on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. KeyCorp upped their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird lowered their target price on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $204.67.

Insider Transactions at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares of the company’s stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

AMETEK announced that its board has authorized a share buyback program on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.