AMETEK, Inc. (NYSE:AME) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

AMETEK, Inc. (NYSE:AME) has received an average rating of “Moderate Buy” from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $186.29.

Several research analysts have commented on the company. Truist Financial dropped their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. TD Cowen cut their price objective on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating for the company in a research report on Monday, August 5th. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The stock was 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 in the company, valued at approximately $4,315,029.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Large investors have recently bought and sold shares of the business. Washington Trust Advisors Inc. acquired a new position in shares of AMETEK during the 1st quarter worth about $37,000. Family Firm Inc. bought a new stake in shares of AMETEK during the 2nd quarter valued at $39,000. Headlands Technologies LLC bought a new position in shares of AMETEK in the first quarter worth $43,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK in the 2nd quarter valued at approximately $42,000. Finally, Mendota Financial Group LLC bought a new stake in AMETEK during the first quarter worth $50,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Up 0.4 %

Shares of AMETEK stock opened at $168.63 on Thursday. The stock has a 50 day moving average price of $166.32 and a two-hundred day moving average price of $172.32. The company has a quick ratio of 0.66, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK has a 12-month low of $136.89 and a 12-month high of $186.32. The stock has a market capitalization of $39.03 billion, a P/E ratio of 29.64, a PEG ratio of 2.57 and a beta of 1.18.

AMETEK (NYSE:AME) last released its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.57 EPS. Equities analysts expect that AMETEK will post 6.78 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

AMETEK Company Profile

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.