AMETEK (NYSE:AME) Stock Price Expected to Rise, KeyCorp Analyst Says

AMETEK (NYSE:AME) had its price objective raised by KeyCorp from $205.00 to $215.00 in a research report sent to investors on Friday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

A number of other analysts have also commented on the company. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial lifted their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Robert W. Baird upped their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Price Performance

AMETEK stock opened at $197.38 on Friday. The stock’s 50 day moving average price is $176.46 and its two-hundred day moving average price is $170.72. The stock has a market capitalization of $45.66 billion, a price-to-earnings ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK has a 52-week low of $149.03 and a 52-week high of $197.83.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. AMETEK’s revenue was up 5.3% on a year-over-year basis. On average, equities analysts predict that AMETEK will post 6.8 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AME. Bank of New York Mellon Corp increased its position in AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares during the last quarter. EdgePoint Investment Group Inc. lifted its stake in AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after purchasing an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. bought a new position in shares of AMETEK in the third quarter worth $130,579,000. Principal Financial Group Inc. boosted its stake in AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after buying an additional 703,501 shares during the period. Finally, D1 Capital Partners L.P. bought a new position in AMETEK in the 3rd quarter worth about $79,782,000. Institutional investors own 87.43% of the company’s stock.

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.