In a recent transaction, Thomas M. Montgomery, Sr. VP and Comptroller of Ametek Inc . (NYSE:AME), sold 6,891 shares of the company's common stock, totaling approximately $1.28 million. The sale was executed at an average price of $185.38 per share.
The sale took place on March 21, 2024, and was disclosed in a filing with the Securities and Exchange Commission. On the same day, Montgomery also acquired 6,891 shares of Ametek's common stock at a price of $73.45 per share, amounting to a total of approximately $506,143.
In addition to the sell transaction, Montgomery also reported the withholding of shares to cover taxes. This involved 104 shares at a price of $184.91 and another 135 shares at $183.15, totaling around $43,955 for both transactions.
These transactions have adjusted Montgomery's direct holdings in Ametek to 21,304 shares, not including the additional shares held indirectly through a 401k Plan and a Supplemental Executive Retirement Plan (Serp).
Ametek Inc., headquartered in Berwyn, Pennsylvania, is a leading global manufacturer of electronic instruments and electromechanical devices with a wide range of applications in industrial markets.
Investors often monitor the buying and selling activities of company insiders as it can provide insights into the company's financial health and future prospects. The transactions by Montgomery are part of the routine financial disclosures required by company executives and are publicly available for investor consideration.
InvestingPro Insights
A closer look at Ametek Inc. through the lens of InvestingPro reveals a nuanced financial landscape. With a robust market capitalization of $42.26 billion, the company stands as a significant player in its industry. The price-to-earnings (P/E) ratio, a key metric for investors, is currently at 32.08, suggesting a higher valuation compared to the market average. This is further substantiated by the adjusted P/E ratio for the last twelve months as of Q4 2023, which is marginally higher at 32.18.
The revenue growth figures for Ametek are also telling, with a solid 7.26% increase over the last twelve months as of Q4 2023, and a quarterly growth rate of 6.47% in Q4 2023. These growth rates are indicative of the company's ability to expand its sales over time. Furthermore, the company's EBITDA growth of 12.36% during the same period reflects a healthy increase in profitability.
InvestingPro Tips for Ametek highlight several aspects that investors may find noteworthy. The company has demonstrated a commitment to returning value to shareholders by raising its dividend for four consecutive years. Additionally, Ametek's cash flows are robust enough to sufficiently cover interest payments, which speaks to its financial resilience. However, it is important to note that six analysts have revised their earnings estimates downwards for the upcoming period, which could signal caution for prospective investors.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips on Ametek Inc., which can be accessed at Investing.com/pro/AME. Use the coupon code PRONEWS24 to receive an extra 10% off a yearly or biyearly Pro and Pro+ subscription, which includes these additional insights and more to inform your investment decisions.
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