AMETEK (NYSE:AME) Given New $186.00 Price Target at Robert W. Baird

AMETEK (NYSE:AME) had its price target increased by investment analysts at Robert W. Baird from $166.00 to $186.00 in a report released on Monday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 2.19% from the company’s previous close.

Several other research analysts also recently commented on the company. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Truist Financial lifted their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Mizuho increased their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $197.86.

AMETEK Stock Performance

Shares of NYSE AME opened at $182.02 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a 50 day moving average price of $169.69 and a 200 day moving average price of $168.91. The stock has a market capitalization of $42.10 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16. AMETEK has a 52 week low of $141.65 and a 52 week high of $186.32.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $1.64 earnings per share. Analysts predict that AMETEK will post 6.81 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK 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 transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AME. Washington Trust Advisors Inc. acquired a new stake in shares of AMETEK in the 1st quarter valued at approximately $37,000. Family Firm Inc. bought a new position in AMETEK in the 2nd quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK in the second quarter valued at approximately $42,000. Headlands Technologies LLC bought a new stake in shares of AMETEK during the first quarter worth $43,000. Finally, Princeton Global Asset Management LLC acquired a new position in shares of AMETEK during the third quarter worth $44,000. Institutional investors own 87.43% of the company’s stock.

About AMETEK

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.