AMETEK, Inc. Plans Quarterly Dividend of $0.31 (NYSE:AME)

Key Points

• AMETEK, Inc. has declared a quarterly dividend of $0.31 per share, payable on September 30th, to investors of record as of September 15th, representing an annualized dividend yield of 0.7%.
• The company reported earnings of $1.78 per share for the last quarter, exceeding analysts' estimates, with a revenue of $1.78 billion, indicating a year-over-year increase of 2.5%.
• AMETEK has a dividend payout ratio of 16.3%, suggesting that its dividend is well-covered by earnings and future forecasts predict a sustained payout ratio of 16.0%.

AMETEK, Inc. (NYSE:AME - Get Free Report) announced a quarterly dividend on Friday, August 8th, RTT News reports. Stockholders of record on Monday, September 15th will be given a dividend of 0.31 per share by the technology company on Tuesday, September 30th. This represents a c) annualized dividend and a dividend yield of 0.7%.

AMETEK has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect AMETEK to earn $7.73 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 16.0%.

AMETEK Price Performance

Shares of AME traded down $0.30 during trading hours on Friday, hitting $181.94. 814,828 shares of the company were exchanged, compared to its average volume of 1,530,621. The company has a market cap of $42.02 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.63 and a beta of 1.10. AMETEK has a fifty-two week low of $145.02 and a fifty-two week high of $198.33. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The firm's fifty day moving average is $179.90 and its 200 day moving average is $177.01.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.09. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The business had revenue of $1.78 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the company earned $1.66 EPS. AMETEK's revenue for the quarter was up 2.5% on a year-over-year basis. On average, equities analysts anticipate that AMETEK will post 7.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AME has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on AMETEK from $190.00 to $198.00 and gave the stock a "neutral" rating in a research report on Monday, August 4th. Royal Bank Of Canada increased their target price on AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Truist Financial increased their target price on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, May 5th. DA Davidson increased their target price on AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Finally, KeyCorp increased their target price on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, AMETEK presently has an average rating of "Moderate Buy" and a consensus price target of $208.00.

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.