AMETEK, Inc. Plans Quarterly Dividend of $0.14 (NYSE:AME)
AMETEK, Inc. (NYSE:AME) declared a quarterly dividend on Friday, August 2nd, RTT News reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.14 per share by the technology company on Monday, September 30th. This represents a $0.56 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Friday, September 13th.
AMETEK has raised its dividend by an average of 15.9% annually over the last three years. AMETEK has a dividend payout ratio of 17.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect AMETEK to earn $4.35 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.9%.
Shares of AME stock opened at $88.10 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.17 and a quick ratio of 1.53. The company has a market capitalization of $20.50 billion, a P/E ratio of 26.78, a P/E/G ratio of 2.29 and a beta of 1.21. The company’s 50-day simple moving average is $86.55 and its two-hundred day simple moving average is $85.46. AMETEK has a one year low of $63.14 and a one year high of $92.30.
A number of brokerages have commented on AME. Royal Bank of Canada set a $95.00 target price on shares of AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Berenberg Bank began coverage on shares of AMETEK in a research note on Wednesday, May 15th. They issued a “buy” rating and a $100.00 target price on the stock. ValuEngine downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. KeyCorp upped their price target on shares of AMETEK from $94.00 to $100.00 in a research report on Wednesday, July 31st. Finally, Morgan Stanley upped their price target on shares of AMETEK from $95.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $94.36.
In related news, Director Elizebeth R. Varet sold 2,000 shares of the stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $84.90, for a total transaction of $169,800.00. Following the completion of the sale, the director now owns 99,670 shares of the company’s stock, valued at $8,461,983. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony James Conti sold 1,570 shares of the stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $87.79, for a total transaction of $137,830.30. Following the sale, the director now directly owns 17,198 shares of the company’s stock, valued at approximately $1,509,812.42. The disclosure for this sale can be found here. Insiders sold a total of 32,250 shares of company stock valued at $2,797,956 in the last ninety days. Corporate insiders own 0.80% of the company’s stock.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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