AMETEK, Inc. (NYSE:AME) Declares Quarterly Dividend of $0.34

Key Points

• AMETEK declared a quarterly dividend of $0.34 per share, payable December 18 to shareholders of record December 4. The dividend annualizes to $1.36 per share, a yield of approximately 0.6%.
• The company has increased its dividend for six consecutive years, and its 17.9% payout ratio indicates the payment is well covered by earnings.
• In its latest quarter, AMETEK reported EPS of $2.21, above the $2.11 consensus, while revenue rose 17.3% year over year to $2.22 billion.

AMETEK, Inc. (NYSE:AME - Get Free Report) announced a quarterly dividend on Friday, November 6th. Stockholders of record on Friday, December 4th will be paid a dividend of $0.34 per share by the technology company on Friday, December 18th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, December 4th.

AMETEK has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 6 years. AMETEK has a payout ratio of 17.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect AMETEK to earn $9.65 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 14.1%.

AMETEK Stock Performance

Shares of NYSE AME traded up $5.41 during midday trading on Friday, reaching $228.40. 1,737,921 shares of the company were exchanged, compared to its average volume of 1,335,954. The company has a current ratio of 1.43, a quick ratio of 0.76 and a debt-to-equity ratio of 0.52. AMETEK has a 1 year low of $188.47 and a 1 year high of $261.16. The stock has a fifty day simple moving average of $243.19 and a 200 day simple moving average of $234.54. The stock has a market cap of $52.38 billion, a P/E ratio of 32.21, a PEG ratio of 2.11 and a beta of 0.96.

AMETEK (NYSE:AME - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.11 by $0.10. AMETEK had a return on equity of 17.12% and a net margin of 19.91%. The firm had revenue of $2.22 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same period in the prior year, the business earned $1.89 EPS. The firm's revenue was up 17.3% compared to the same quarter last year. On average, research analysts forecast that AMETEK will post 8.59 earnings per share for the current fiscal year.

Institutional Trading of AMETEK

Several hedge funds and other institutional investors have recently made changes to their positions in AME. BlackRock Inc. bought a new stake in shares of AMETEK in the second quarter worth $4,725,928,000. Wellington Management Group LLP raised its holdings in AMETEK by 7.0% in the second quarter. Wellington Management Group LLP now owns 2,994,077 shares of the technology company's stock valued at $724,387,000 after acquiring an additional 196,986 shares in the last quarter. Flossbach Von Storch SE bought a new position in AMETEK during the 2nd quarter valued at $662,352,000. Bank of New York Mellon Corp bought a new position in AMETEK during the 2nd quarter valued at $624,725,000. Finally, Dimensional Fund Advisors LP grew its holdings in AMETEK by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,075,229 shares of the technology company's stock worth $444,788,000 after acquiring an additional 29,001 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company's stock.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation.

The company's products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical.

Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.

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