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

AMETEK, Inc. (NYSE:AME) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 4,430,000 shares, an increase of 42.9% from the May 31st total of 3,100,000 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average trading volume of 1,110,000 shares, the short-interest ratio is currently 4.0 days.

AMETEK Price Performance

NYSE AME traded down $1.03 during trading on Monday, hitting $165.68. 953,258 shares of the stock traded hands, compared to its average volume of 1,058,687. The company has a market capitalization of $38.35 billion, a P/E ratio of 29.10, a price-to-earnings-growth ratio of 2.67 and a beta of 1.18. AMETEK has a 12-month low of $136.89 and a 12-month high of $186.32. The firm has a 50-day simple moving average of $170.61 and a 200-day simple moving average of $171.74. 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 (NYSE:AME) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business’s revenue was up 9.0% on a year-over-year basis. During the same period last year, the company posted $1.49 EPS. As a group, analysts predict that AMETEK will post 6.83 EPS for the current year.

AMETEK Dividend Announcement

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

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly 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. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AMETEK

Hedge funds and other institutional investors have recently modified their holdings of the business. LPL Financial LLC increased its position in shares of AMETEK by 15.0% during the third quarter. LPL Financial LLC now owns 78,411 shares of the technology company’s stock worth $11,586,000 after acquiring an additional 10,203 shares during the period. Federated Hermes Inc. raised its position in AMETEK by 21.1% during the 3rd quarter. Federated Hermes Inc. now owns 1,296 shares of the technology company’s stock valued at $191,000 after purchasing an additional 226 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in shares of AMETEK by 2.9% in 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 grew its position in shares of 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 in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of AMETEK by 144.0% during the third quarter. Tower Research Capital LLC TRC now owns 17,247 shares of the technology company’s stock valued at $2,548,000 after buying an additional 10,180 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on AME shares. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Wednesday, May 22nd. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Robert W. Baird dropped their target price on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Truist Financial assumed coverage on AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $181.80.

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.