AMETEK, Inc. (NYSE:AME) Receives $197.60 Consensus Target Price from Brokerages

Shares of AMETEK, Inc. (NYSE:AME) have received an average rating of “Moderate Buy” from the twelve brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $196.90.

AME has been the topic of a number of research reports. Royal Bank of Canada increased their target price on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a report on Friday, May 2nd. Robert W. Baird cut their target price on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating on the stock in a report on Wednesday. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a research note on Thursday, January 16th. Truist Financial increased their price target on AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Finally, Morgan Stanley started coverage on AMETEK in a research report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price objective for the company.

Insider Activity

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in AMETEK during the fourth quarter valued at approximately $697,080,000. Capital World Investors lifted its position in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company’s stock valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of AMETEK by 393.1% during the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company’s stock worth $219,030,000 after acquiring an additional 968,661 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company’s stock worth $167,540,000 after acquiring an additional 968,010 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of AMETEK by 240.3% during the fourth quarter. American Century Companies Inc. now owns 1,125,068 shares of the technology company’s stock worth $202,805,000 after purchasing an additional 794,473 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Stock Up 0.1 %

NYSE:AME opened at $171.69 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24. The company has a market capitalization of $39.64 billion, a price-to-earnings ratio of 28.95, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12. AMETEK has a one year low of $145.02 and a one year high of $198.33. The stock has a 50-day simple moving average of $168.51 and a 200 day simple moving average of $179.47.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $1.64 EPS. Sell-side analysts predict that AMETEK will post 7.15 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.72%. AMETEK’s payout ratio is 20.29%.

AMETEK announced that its Board of Directors has authorized a share repurchase program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

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.