AMETEK, Inc. (NYSE:AME) Receives $202.50 Average Price Target from Brokerages

AMETEK, Inc. (NYSE:AME) has been given a consensus recommendation of “Moderate Buy” by the ten analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $202.50.

Several equities analysts have recently weighed in on AME shares. Wolfe Research upgraded AMETEK to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. Mizuho upped their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Truist Financial raised their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $195.00 to $225.00 in a report on Monday, December 16th.

AMETEK Price Performance

Shares of NYSE:AME opened at $179.57 on Wednesday. AMETEK has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The company’s 50-day moving average is $187.13 and its 200 day moving average is $174.33. 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 company has a market capitalization of $41.54 billion, a P/E ratio of 31.28, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.64 earnings per share. On average, equities research analysts forecast that AMETEK will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Insider Transactions at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction that occurred 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 sale, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the completion of the sale, the insider now owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 29,200 shares of company stock worth $5,707,620. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. EdgePoint Investment Group Inc. grew its position in shares of AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after buying an additional 918,737 shares during the last quarter. Meridiem Investment Management Ltd. purchased a new stake in shares of AMETEK in the 3rd quarter worth approximately $130,579,000. Principal Financial Group Inc. increased its holdings in shares of AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in AMETEK during the 3rd quarter valued at about $79,782,000. Finally, James Hambro & Partners LLP purchased a new position in AMETEK in the 3rd quarter worth approximately $60,188,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.