AMETEK Inc's Executive VP - CFO William Burke Sells 27,400 Shares
William Burke, the Executive Vice President and Chief Financial Officer of AMETEK Inc (NYSE:AME), has sold 27,400 shares of the company on March 21, 2024, according to a recent SEC filing. The transaction was executed at an average price of $185.05 per share, resulting in a total value of approximately $5,070,370.
AMETEK Inc is a leading global manufacturer of electronic instruments and electromechanical devices with a broad range of products that are used in a variety of applications. The company operates through two business segments: Electronic Instruments Group (EIG) and Electromechanical Group (EMG). AMETEK's products are marketed and sold worldwide through two groups: the Electronic Instruments Group, which is a leader in the design and manufacture of advanced instruments for the process, aerospace, power, and industrial markets; and the Electromechanical Group, which is a differentiated supplier of electrical interconnects, precision motion control solutions, specialty metals, thermal management systems, and floor care and specialty motors.
Over the past year, William Burke has sold a total of 84,740 shares of AMETEK Inc and has not made any purchases of the stock. This latest transaction continues the trend of insider selling at the company, with a total of 15 insider sells and no insider buys over the past year.
On the day of the insider's recent sale, AMETEK Inc's shares were trading at $185.05, giving the company a market capitalization of $42.26 billion. The price-earnings ratio of the stock stands at 32.23, which is above the industry median of 22.635 and also higher than the company's historical median price-earnings ratio.
The stock's price-to-GF-Value ratio is 1.13, with a GF Value of $164.03, indicating that AMETEK Inc is considered modestly overvalued based on its GF Value. The GF Value is an intrinsic value estimate that takes into account historical trading multiples, a GuruFocus adjustment factor based on the company's past returns and growth, and future business performance estimates from Morningstar analysts.
Investors often monitor insider transactions as they can provide insights into the company's performance and management's expectations. While insider selling does not necessarily indicate negative prospects for a company, it can prompt shareholders to consider whether insiders may have concerns about the company's future performance.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
