AMETEK, Inc. (NYSE:AME) Receives $204.67 Consensus PT from Analysts

Shares of AMETEK, Inc. (NYSE:AME) have received a consensus recommendation of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $204.67.

Several analysts have commented on AME shares. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial raised their target price on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird lowered their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th.

AMETEK Stock Down 0.8 %

AMETEK stock opened at $174.50 on Monday. The company’s 50 day simple moving average is $182.92 and its 200 day simple moving average is $180.43. AMETEK has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The firm has a market capitalization of $40.26 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

AMETEK (NYSE:AME) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.68 EPS. As a group, sell-side analysts anticipate that AMETEK will post 7.15 EPS for the current year.

AMETEK declared that its board has authorized a stock repurchase plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

AMETEK Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.31 dividend. The ex-dividend date is Friday, March 14th. This is a boost from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a dividend yield of 0.71%. AMETEK’s dividend payout ratio (DPR) is currently 20.91%.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares of the company’s stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.61% of the stock is owned by company insiders.

Hedge Funds Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AME. Principal Financial Group Inc. boosted its position 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 worth $288,526,000 after purchasing an additional 703,501 shares during the period. Victory Capital Management Inc. boosted its position in AMETEK by 6.5% during the third quarter. Victory Capital Management Inc. now owns 162,161 shares of the technology company’s stock worth $27,845,000 after purchasing an additional 9,928 shares during the period. Empowered Funds LLC boosted its position in shares of AMETEK by 24.6% in the third quarter. Empowered Funds LLC now owns 12,348 shares of the technology company’s stock valued at $2,120,000 after acquiring an additional 2,440 shares during the period. Mizuho Securities USA LLC boosted its position in shares of AMETEK by 95.3% in the third quarter. Mizuho Securities USA LLC now owns 34,843 shares of the technology company’s stock valued at $5,983,000 after acquiring an additional 16,999 shares during the period. Finally, Natixis Advisors LLC boosted its position in shares of AMETEK by 1.9% in the third quarter. Natixis Advisors LLC now owns 110,625 shares of the technology company’s stock valued at $18,996,000 after acquiring an additional 2,059 shares during the period. 87.43% of the stock is owned by institutional investors.

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.