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.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, July 30th. The technology company reported $1.05 EPS for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.83 EPS. On average, research analysts expect that AMETEK will post 4.1 EPS for the current fiscal year.

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.

About AMETEK

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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Dividend History for AMETEK (NYSE:AME)

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