Ametek CEO Sells $13,207,142 in Stock (AME)
Ametek (NYSE:AME) CEO Frank Hermance sold 286,987 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $46.02, for a total transaction of $13,207,141.74. Following the transaction, the chief executive officer now directly owns 353,359 shares of the company’s stock, valued at approximately $16,261,581. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at RBC Capital raised their price target on shares of Ametek (NYSE:AME) from $46.00 to $52.00 in a research note to investors on Thursday, August 8th. They now have an “outperform” rating on the stock. Separately, analysts at Janney Montgomery Scott raised their price target on shares of Ametek (NYSE:AME) from $46.00 to $53.00 in a research note to investors on Thursday, August 8th. They now have a “buy” rating on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Ametek (NYSE:AME) in a research note to investors on Thursday, August 8th. They now have a $52.00 price target on the stock, up previously from $50.00.
Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $47.43.
Ametek (NYSE:AME) traded up 0.41% during mid-day trading on Tuesday, hitting $46.22. 2,640,185 shares of the company’s stock traded hands. Ametek has a 52 week low of $32.67 and a 52 week high of $48.01. The stock’s 50-day moving average is $44.70 and its 200-day moving average is $43.22. The company has a market cap of $11.288 billion and a price-to-earnings ratio of 23.13.
Ametek (NYSE:AME) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.52 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.52. The company had revenue of $878.80 million for the quarter, compared to the consensus estimate of $892.00 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. Analysts expect that Ametek will post $2.09 EPS for the current fiscal year.
AMETEK, Inc (NYSE:AME) is a global manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America.
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