AMETEK, Inc. (NYSE:AME) Receives $197.86 Average Target Price from Analysts

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 equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $197.86.

A number of brokerages have recently commented on AME. Royal Bank of Canada lowered their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Mizuho lifted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

AMETEK Stock Down 0.8 %

NYSE:AME opened at $193.85 on Tuesday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. AMETEK has a twelve month low of $149.03 and a twelve month high of $196.70. The company has a market cap of $44.84 billion, a PE ratio of 34.05, a P/E/G ratio of 3.17 and a beta of 1.16. The company’s 50 day moving average is $172.43 and its two-hundred day moving average is $169.55.

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

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business’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 sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of AMETEK

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Erste Asset Management GmbH acquired a new position in AMETEK in the third quarter valued at $14,981,000. Wasatch Advisors LP boosted its stake in shares of AMETEK by 3.3% during the 3rd quarter. Wasatch Advisors LP now owns 5,891 shares of the technology company’s stock worth $1,012,000 after acquiring an additional 188 shares in the last quarter. Edgestream Partners L.P. acquired a new position in shares of AMETEK during the 3rd quarter worth $997,000. Caisse DE Depot ET Placement DU Quebec increased its stake in AMETEK by 416.4% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 87,178 shares of the technology company’s stock valued at $14,969,000 after purchasing an additional 70,297 shares during the last quarter. Finally, Verition Fund Management LLC grew its holdings in AMETEK by 474.5% in the third quarter. Verition Fund Management LLC now owns 70,950 shares of the technology company’s stock valued at $12,183,000 after purchasing an additional 58,601 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.