AMETEK, Inc. (NYSE:AME) was the recipient of unusually large options trading on Thursday. Stock investors bought 1,138 put options on the stock. This is an increase of approximately 1,896% compared to the typical volume of 57 put options.
In other AMETEK news, Director Elizebeth R. Varet sold 1,950 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $78.38, for a total transaction of $152,841.00. Following the completion of the transaction, the director now owns 104,810 shares of the company’s stock, valued at $8,215,007.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Elizebeth R. Varet sold 4,050 shares of the business’s stock in a transaction dated Saturday, September 7th. The stock was sold at an average price of $78.65, for a total value of $318,532.50. Following the transaction, the director now directly owns 104,810 shares of the company’s stock, valued at approximately $8,243,306.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,069 shares of company stock valued at $8,816,614. Insiders own 2.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. American Century Companies Inc. boosted its holdings in shares of AMETEK by 4.8% during the 4th quarter. American Century Companies Inc. now owns 4,442,960 shares of the technology company’s stock worth $300,788,000 after buying an additional 205,034 shares in the last quarter. Norges Bank bought a new position in shares of AMETEK during the 4th quarter worth approximately $134,370,000. Teacher Retirement System of Texas boosted its holdings in shares of AMETEK by 15.7% during the 4th quarter. Teacher Retirement System of Texas now owns 230,616 shares of the technology company’s stock worth $15,613,000 after buying an additional 31,299 shares in the last quarter. FMR LLC boosted its holdings in shares of AMETEK by 4.2% during the 4th quarter. FMR LLC now owns 9,274,980 shares of the technology company’s stock worth $627,916,000 after buying an additional 372,219 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of AMETEK during the 4th quarter worth approximately $311,000. 83.56% of the stock is owned by institutional investors and hedge funds.
AME has been the subject of several research analyst reports. Morgan Stanley raised AMETEK from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $81.00 to $85.00 in a research note on Tuesday, December 18th. Wolfe Research raised AMETEK from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 8th. Stephens reaffirmed a “buy” rating and issued a $79.00 price objective on shares of AMETEK in a research note on Sunday, January 6th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $82.00 price objective on shares of AMETEK in a research note on Wednesday, December 19th. Finally, Cowen reaffirmed a “buy” rating and issued a $91.00 price objective on shares of AMETEK in a research note on Wednesday, December 12th. Twelve analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $86.10.
NYSE:AME opened at $80.65 on Friday. The company has a market cap of $18.20 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.46 and a quick ratio of 0.96. AMETEK has a fifty-two week low of $63.14 and a fifty-two week high of $81.92.
AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 5th. The technology company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.26 billion. AMETEK had a net margin of 16.05% and a return on equity of 17.72%. The company’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, sell-side analysts expect that AMETEK will post 3.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, March 14th. AMETEK’s dividend payout ratio is presently 17.02%.
AMETEK announced that its board has authorized a share repurchase plan on Wednesday, February 13th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the technology company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
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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.
Further Reading: Return on Investment (ROI)
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