KeyCorp Raises AMETEK (NYSE:AME) Price Target to $215.00

AMETEK (NYSE:AME) had its price objective upped by KeyCorp from $205.00 to $215.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

AME has been the topic of a number of other reports. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Mizuho upped their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday, November 15th. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Royal Bank of Canada reduced their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and an average target price of $199.29.

AMETEK Price Performance

Shares of NYSE AME opened at $197.12 on Friday. 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 firm has a fifty day moving average of $177.04 and a 200 day moving average of $170.91. The firm has a market cap of $45.60 billion, a PE ratio of 34.34, a PEG ratio of 3.22 and a beta of 1.16. AMETEK has a one year low of $149.03 and a one year high of $198.33.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, research analysts predict that AMETEK will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is 19.51%.

Insider Transactions at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the transaction, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 23,913 shares of company stock valued at $4,636,404 in the last 90 days. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in AMETEK by 0.3% in the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after buying an additional 24,072 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in AMETEK by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after purchasing an additional 44,899 shares in the last quarter. Geode Capital Management LLC increased its holdings in AMETEK by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock worth $924,308,000 after purchasing an additional 45,459 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares in the last quarter. Finally, Boston Partners boosted its stake in shares of AMETEK by 3.0% during the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock valued at $560,278,000 after buying an additional 90,271 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.