AMETEK (NYSE:AME) Stock Gets Price Target Cut from Mizuho

AMETEK (NYSE:AME – Free Report) had its target price trimmed by Mizuho from $285.00 to $275.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Other analysts also recently issued reports about the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of AMETEK from $288.00 to $318.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Truist Financial increased their price objective on shares of AMETEK from $303.00 to $316.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. TD Cowen restated a “buy” rating on shares of AMETEK in a report on Thursday, August 6th. Morgan Stanley set a $275.00 price objective on shares of AMETEK in a research report on Friday, October 9th. Finally, Robert W. Baird upped their target price on shares of AMETEK from $275.00 to $280.00 and gave the stock a “neutral” rating in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $278.06.

Check Out Our Latest Stock Analysis on AME

AMETEK Price Performance

Shares of NYSE:AME traded up $5.41 during midday trading on Wednesday, reaching $228.40. The company’s stock had a trading volume of 1,737,921 shares, compared to its average volume of 1,376,260. The business’s fifty day simple moving average is $242.89 and its 200-day simple moving average is $234.62. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.76. AMETEK has a fifty-two week low of $188.47 and a fifty-two week high of $261.16. The company has a market capitalization of $52.35 billion, a P/E ratio of 32.21, a P/E/G ratio of 2.29 and a beta of 0.96.

AMETEK (NYSE:AME – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. AMETEK had a return on equity of 16.93% and a net margin of 20.04%. The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the firm posted $1.89 earnings per share. AMETEK’s revenue was up 17.3% compared to the same quarter last year. As a group, equities research analysts expect that AMETEK will post 8.59 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $0.34 dividend. The ex-dividend date is Friday, December 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s dividend payout ratio (DPR) is 19.18%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Frazier Financial Advisors LLC bought a new stake in AMETEK during the 2nd quarter worth about $25,000. Fiduciary Financial Advisors bought a new position in shares of AMETEK in the 2nd quarter valued at about $27,000. Elevation Wealth Partners LLC increased its position in shares of AMETEK by 239.5% in the second quarter. Elevation Wealth Partners LLC now owns 129 shares of the technology company’s stock valued at $31,000 after acquiring an additional 91 shares during the last quarter. GK Wealth Management LLC bought a new stake in AMETEK during the third quarter worth about $36,000. Finally, NFSG Corp bought a new stake in AMETEK during the third quarter worth about $48,000. Institutional investors own 87.43% of the company’s stock.

Key AMETEK News

Here are the key news stories impacting AMETEK this week:

About AMETEK

(Get Free Report)

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation.

The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical.

Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.

Further Reading

Analyst Recommendations for AMETEK (NYSE:AME)

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