AMETEK (NYSE:AME) Upgraded to Hold by Wolfe Research

Wolfe Research upgraded shares of AMETEK (NYSE:AME) to a hold rating in a research note published on Wednesday morning, Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. StockNews.com cut AMETEK from a buy rating to a hold rating in a report on Tuesday, August 6th. Truist Financial lowered their target price on shares of AMETEK from $204.00 to $201.00 and set a buy rating for the company in a research note on Friday, August 2nd. TD Cowen cut their target price on shares of AMETEK from $165.00 to $158.00 and set a hold rating on the stock in a report on Monday, August 5th. Oppenheimer raised shares of AMETEK from a market perform rating to an outperform rating and set a $200.00 price target for the company in a report on Wednesday, May 22nd. Finally, Royal Bank of Canada dropped their price objective on AMETEK from $216.00 to $215.00 and set an outperform rating on the stock in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $186.29.

AMETEK Stock Down 0.7 %

Shares of NYSE AME opened at $171.10 on Wednesday. AMETEK has a 1 year low of $136.89 and a 1 year high of $186.32. The firm’s 50-day moving average is $166.57 and its 200-day moving average is $171.39. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $39.60 billion, a PE ratio of 30.07, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last released its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS 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 quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.57 EPS. Equities analysts expect that AMETEK will post 6.77 EPS for the current year.

AMETEK Dividend Announcement

The company 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 dividend of $0.28 per share. 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 0.65%. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Washington Trust Advisors Inc. bought a new position in shares of AMETEK in the first quarter worth $37,000. Family Firm Inc. bought a new stake in AMETEK during the 2nd quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. acquired a new position in AMETEK in the 2nd quarter valued at approximately $42,000. Headlands Technologies LLC bought a new position in shares of AMETEK during the first quarter valued at $43,000. Finally, Crewe Advisors LLC lifted its holdings in shares of AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after purchasing an additional 184 shares during the period. 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.