Insider Selling: Steven W. Kohlhagen Sells 6,951 Shares of AMETEK Stock (AME)
AMETEK (NYSE:AME) Director Steven W. Kohlhagen unloaded 6,951 shares of AMETEK stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $51.02, for a total transaction of $354,640.02. Following the completion of the sale, the director now directly owns 47,165 shares in the company, valued at approximately $2,406,358. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of AMETEK (NYSE:AME) traded up 2.38% during mid-day trading on Friday, hitting $51.69. The stock had a trading volume of 1,196,136 shares. AMETEK has a one year low of $42.23 and a one year high of $54.50. The stock’s 50-day moving average is $52.01 and its 200-day moving average is $52.04. The company has a market cap of $12.674 billion and a P/E ratio of 22.44.
AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.59 by $0.02. The company had revenue of $990.70 million for the quarter, compared to the consensus estimate of $974.00 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 12.7% on a year-over-year basis. On average, analysts predict that AMETEK will post $2.41 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Friday, September 12th.
A number of analysts have recently weighed in on AME shares. Analysts at Oppenheimer reiterated an “outperform” rating on shares of AMETEK in a research note on Wednesday. They now have a $59.00 price target on the stock, up previously from $57.00. Separately, analysts at KeyCorp raised their price target on shares of AMETEK from $57.00 to $58.00 in a research note on Tuesday, July 15th. Finally, analysts at Morgan Stanley raised their price target on shares of AMETEK from $52.00 to $53.00 in a research note on Thursday, July 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $54.29.
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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