AMETEK, Inc. (NYSE:AME) Receives $187.29 Average Price Target from Brokerages

AMETEK, Inc. (NYSE:AME) has earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Three 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. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $186.29.

A number of equities analysts recently weighed in on the stock. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen dropped their price target on shares of AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday. Robert W. Baird decreased their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday.

Insider Activity

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

Institutional Trading of AMETEK

Several institutional investors have recently made changes to their positions in AME. Wetzel Investment Advisors Inc. bought a new position in AMETEK in the 4th quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of AMETEK during the fourth quarter worth $26,000. Rakuten Securities Inc. purchased a new position in AMETEK during the fourth quarter valued at $31,000. Washington Trust Advisors Inc. bought a new stake in AMETEK in the 1st quarter valued at $37,000. Finally, Family Firm Inc. purchased a new stake in AMETEK in the 2nd quarter worth $39,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 1.3 %

NYSE:AME opened at $158.83 on Friday. AMETEK has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a market capitalization of $36.76 billion, a PE ratio of 27.91, a P/E/G ratio of 2.57 and a beta of 1.18. The firm’s 50-day moving average price is $167.90 and its 200-day moving average price is $172.36. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the company earned $1.57 earnings per share. The business’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts predict that AMETEK will post 6.78 EPS for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.71%. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

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.