Short Interest in AMETEK, Inc. (NYSE:AME) Expands By 42.9%

AMETEK, Inc. (NYSE:AME) was the target of a significant growth in short interest in the month of June. As of June 15th, there was short interest totalling 4,430,000 shares, a growth of 42.9% from the May 31st total of 3,100,000 shares. Currently, 1.9% of the shares of the company are sold short. Based on an average daily trading volume, of 1,110,000 shares, the short-interest ratio is presently 4.0 days.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AME. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial began coverage on shares of AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. Robert W. Baird dropped their target price 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. Finally, Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $181.80.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s 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 sale, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Hedge funds have recently made changes to their positions in the stock. LPL Financial LLC lifted its holdings in shares of AMETEK by 15.0% during the 3rd quarter. LPL Financial LLC now owns 78,411 shares of the technology company’s stock valued at $11,586,000 after acquiring an additional 10,203 shares in the last quarter. Federated Hermes Inc. increased its stake in AMETEK by 21.1% during the 3rd quarter. Federated Hermes Inc. now owns 1,296 shares of the technology company’s stock worth $191,000 after buying an additional 226 shares during the period. O Shaughnessy Asset Management LLC increased its stake in AMETEK by 2.9% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 15,890 shares of the technology company’s stock worth $2,348,000 after buying an additional 455 shares during the period. Synovus Financial Corp increased its stake in AMETEK by 23.0% during the 3rd quarter. Synovus Financial Corp now owns 3,863 shares of the technology company’s stock worth $571,000 after buying an additional 722 shares during the period. Finally, Tower Research Capital LLC TRC increased its stake in AMETEK by 144.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 17,247 shares of the technology company’s stock worth $2,548,000 after buying an additional 10,180 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Trading Down 0.6 %

NYSE AME traded down $0.98 during mid-day trading on Monday, reaching $165.73. 405,261 shares of the stock were exchanged, compared to its average volume of 1,054,446. AMETEK has a 1-year low of $136.89 and a 1-year high of $186.32. The business’s fifty day simple moving average is $170.61 and its 200 day simple moving average is $171.74. The stock has a market capitalization of $38.36 billion, a PE ratio of 29.43, a PEG ratio of 2.67 and a beta of 1.18. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. AMETEK’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business earned $1.49 EPS. On average, research analysts anticipate that AMETEK will post 6.83 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

About AMETEK

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.