Analysts Set AMETEK, Inc. (NYSE:AME) Target Price at $193.29

AMETEK, Inc. (NYSE:AME) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $193.29.

Several equities analysts recently commented on AME shares. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Royal Bank of Canada cut their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Robert W. Baird cut their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Truist Financial boosted their price objective on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th.

Insider Transactions at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several hedge funds have recently modified their holdings of AME. Compass Ion Advisors LLC purchased a new stake in AMETEK during the third quarter valued at approximately $503,000. Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in AMETEK by 4.0% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 104,932 shares of the technology company’s stock valued at $18,018,000 after acquiring an additional 4,059 shares during the last quarter. Meridiem Investment Management Ltd. purchased a new stake in AMETEK during the third quarter valued at approximately $130,579,000. Raymond James & Associates lifted its position in AMETEK by 2.6% during the third quarter. Raymond James & Associates now owns 176,737 shares of the technology company’s stock valued at $30,347,000 after acquiring an additional 4,557 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in AMETEK by 58.4% during the third quarter. Blue Trust Inc. now owns 2,198 shares of the technology company’s stock valued at $366,000 after acquiring an additional 810 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Performance

AMETEK stock opened at $169.40 on Friday. The company’s 50-day moving average price is $167.84 and its 200-day moving average price is $169.53. AMETEK has a twelve month low of $136.89 and a twelve month high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market cap of $39.21 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last posted 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. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the firm posted $1.57 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. On average, equities research analysts forecast that AMETEK will post 6.76 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were given a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. AMETEK’s payout ratio 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.