Robert W. Baird Lowers AMETEK (NYSE:AME) Price Target to $166.00

AMETEK (NYSE:AME) had its price objective dropped by equities researchers at Robert W. Baird from $171.00 to $166.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would indicate a potential upside of 4.46% from the stock’s current price.

A number of other analysts also recently weighed in on AME. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial decreased their price target on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. TD Cowen cut their target price on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a research note on Monday. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.29.

AMETEK Stock Up 1.2 %

NYSE:AME traded up $1.93 during trading hours on Wednesday, hitting $158.91. The stock had a trading volume of 773,858 shares, compared to its average volume of 1,110,057. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. AMETEK has a 1-year low of $136.89 and a 1-year high of $186.32. The business has a 50 day simple moving average of $168.28 and a two-hundred day simple moving average of $172.56. The company has a market cap of $36.78 billion, a PE ratio of 28.07, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the company earned $1.57 earnings per share. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts predict that AMETEK will post 6.78 EPS for the current year.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Institutional investors have recently bought and sold shares of the stock. LGT Fund Management Co Ltd. grew its stake in AMETEK by 311.3% during the 2nd quarter. LGT Fund Management Co Ltd. now owns 17,347 shares of the technology company’s stock valued at $2,892,000 after acquiring an additional 13,129 shares in the last quarter. LGT Group Foundation grew its stake in AMETEK by 4.0% during the 2nd quarter. LGT Group Foundation now owns 222,617 shares of the technology company’s stock valued at $37,112,000 after acquiring an additional 8,615 shares in the last quarter. Choreo LLC grew its stake in AMETEK by 407.4% during the 2nd quarter. Choreo LLC now owns 8,327 shares of the technology company’s stock valued at $1,379,000 after acquiring an additional 6,686 shares in the last quarter. Prudential PLC grew its stake in AMETEK by 37.6% during the 2nd quarter. Prudential PLC now owns 3,062 shares of the technology company’s stock valued at $510,000 after acquiring an additional 837 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new position in AMETEK during the 2nd quarter valued at about $61,000. Hedge funds and other institutional investors 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.