AMETEK (NYSE:AME) Price Target Cut to $171.00 by Analysts at Robert W. Baird

AMETEK (NYSE:AME) had its price target lowered by Robert W. Baird from $173.00 to $171.00 in a research note published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

Several other equities analysts also recently weighed in on AME. Royal Bank of Canada cut their target price on AMETEK from $192.00 to $188.00 and set an outperform rating on the stock in a research report on Wednesday, February 7th. StockNews.com lowered shares of AMETEK from a buy rating to a hold rating in a report on Saturday, March 2nd. KeyCorp upped their price target on shares of AMETEK from $182.00 to $205.00 and gave the company an overweight rating in a report on Tuesday, February 27th. Finally, Truist Financial began coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a buy rating and a $210.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, AMETEK has a consensus rating of Moderate Buy and a consensus price target of $179.80.

AMETEK Stock Performance

Shares of AME opened at $169.90 on Monday. AMETEK has a one year low of $136.89 and a one year high of $186.32. The business has a fifty day moving average of $179.07 and a 200 day moving average of $166.70. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The firm has a market capitalization of $39.33 billion, a P/E ratio of 29.86, a PEG ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. AMETEK’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts anticipate that AMETEK will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total value of $2,938,308.87. Following the completion of the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director Steven W. Kohlhagen sold 1,400 shares of the business’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the transaction, the director now owns 28,054 shares of the company’s stock, valued at approximately $5,066,271.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO William Joseph Burke sold 17,437 shares of AMETEK stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the transaction, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock worth $10,689,758 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Institutional investors have recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of AMETEK by 6.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,040 shares of the technology company’s stock valued at $191,000 after buying an additional 64 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in AMETEK by 1.9% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,477 shares of the technology company’s stock valued at $636,000 after acquiring an additional 64 shares in the last quarter. M&T Bank Corp raised its holdings in AMETEK by 0.5% in the 4th quarter. M&T Bank Corp now owns 15,442 shares of the technology company’s stock valued at $2,547,000 after acquiring an additional 73 shares during the last quarter. Avantax Advisory Services Inc. lifted its stake in AMETEK by 4.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 1,723 shares of the technology company’s stock worth $315,000 after purchasing an additional 73 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its holdings in shares of AMETEK by 9.3% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 872 shares of the technology company’s stock worth $159,000 after purchasing an additional 74 shares during the last quarter. 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.