Insider Selling: James R. Malone Sells 12,464 Shares of AMETEK Stock (AME)
AMETEK (NYSE:AME) Director James R. Malone unloaded 12,464 shares of AMETEK stock on the open market in a transaction dated Thursday, September 4th. The stock was sold at an average price of $52.98, for a total value of $660,342.72. Following the transaction, the director now directly owns 9,113 shares of the company’s stock, valued at approximately $482,807. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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 equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $56.50.
AMETEK (NYSE:AME) traded up 0.23% during mid-day trading on Thursday, hitting $52.90. 618,944 shares of the company’s stock traded hands. AMETEK has a 1-year low of $43.34 and a 1-year high of $54.50. The stock’s 50-day moving average is $51.73 and its 200-day moving average is $52.39. The company has a market cap of $13.002 billion and a price-to-earnings ratio of 23.46.
AMETEK (NYSE:AME) last posted 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. Analysts expect that AMETEK will post $2.41 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 30th. Investors 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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