Insider Selling: AMETEK Director Sells 1,000 Shares of Stock (AME)
AMETEK (NYSE:AME) Director Elizebeth R. Varet unloaded 1,000 shares of AMETEK stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $53.20, for a total transaction of $53,200.00. Following the sale, the director now directly owns 122,590 shares in the company, valued at approximately $6,521,788. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
AME has been the subject of a number of recent research reports. Analysts at KeyCorp reiterated a “buy” rating on shares of AMETEK in a research note on Thursday, August 21st. They now have a $60.00 price target on the stock, up previously from $58.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of AMETEK in a research note on Wednesday, August 13th. They now have a $54.00 price target on the stock. Finally, analysts at Oppenheimer reiterated an “outperform” rating on shares of AMETEK in a research note on Wednesday, August 6th. They now have a $59.00 price target on the stock, up previously from $57.00. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $56.50.
AMETEK (NYSE:AME) traded down 0.13% during mid-day trading on Tuesday, hitting $52.87. 792,700 shares of the company’s stock traded hands. AMETEK has a 52 week low of $42.23 and a 52 week high of $54.50. The stock has a 50-day moving average of $51.74 and a 200-day moving average of $52.34. The company has a market cap of $12.995 billion and a P/E ratio of 23.53.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.61 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.52 earnings per share. AMETEK’s revenue was up 12.7% compared to the same quarter last year. On average, analysts predict that AMETEK will post $2.41 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Friday, September 12th.
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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