AMETEK, Inc. (NYSE:AME) Short Interest Update

AMETEK, Inc. (NYSE:AMEGet Free Report) was the recipient of a large growth in short interest during the month of May. As of May 31st, there was short interest totalling 3,100,000 shares, a growth of 18.8% from the May 15th total of 2,610,000 shares. Based on an average trading volume of 1,050,000 shares, the days-to-cover ratio is presently 3.0 days. Approximately 1.4% of the shares of the stock are sold short.

Insider Activity

In other news, VP Thomas M. Montgomery sold 6,891 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total value of $1,277,453.58. Following the sale, the vice president now owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,981 shares of company stock worth $6,990,437. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Aviva PLC grew its position in AMETEK by 10.6% during the 3rd quarter. Aviva PLC now owns 20,038 shares of the technology company’s stock worth $2,961,000 after purchasing an additional 1,913 shares during the last quarter. Kestra Advisory Services LLC grew its position in AMETEK by 487.9% during the 3rd quarter. Kestra Advisory Services LLC now owns 17,155 shares of the technology company’s stock worth $2,535,000 after purchasing an additional 14,237 shares during the last quarter. Prudential PLC grew its position in AMETEK by 168.2% during the 3rd quarter. Prudential PLC now owns 34,765 shares of the technology company’s stock worth $5,137,000 after purchasing an additional 21,804 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of AMETEK by 10.4% in the 3rd quarter. Rafferty Asset Management LLC now owns 18,347 shares of the technology company’s stock valued at $2,711,000 after acquiring an additional 1,735 shares during the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in shares of AMETEK in the 3rd quarter valued at $1,453,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 0.9 %

Shares of AMETEK stock opened at $168.49 on Tuesday. The firm’s 50 day moving average price is $172.48 and its 200-day moving average price is $171.04. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a market cap of $39.00 billion, a P/E ratio of 29.61, a PEG ratio of 2.67 and a beta of 1.20.

AMETEK (NYSE:AMEGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the firm earned $1.49 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts predict that AMETEK will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date of this dividend is Friday, June 14th. AMETEK’s payout ratio is currently 19.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on AME. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. Robert W. Baird decreased their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday, May 6th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 13th. KeyCorp lifted their price objective on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Finally, Truist Financial began coverage on shares of AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.80.

Get Our Latest Report on AME

AMETEK Company Profile

(Get Free Report)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. The company's EIG segment offers advanced instruments for the process, aerospace, power, and industrial markets; process and analytical instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.

Further Reading

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