AMETEK (NYSE:AME) Price Target Cut to $204.00 by Analysts at Truist Financial

AMETEK (NYSE:AME) had its price target reduced by Truist Financial from $210.00 to $204.00 in a research note published on Tuesday, Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other equities analysts have also recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of AMETEK from $173.00 to $171.00 and set a neutral rating on the stock in a research report on Monday, May 6th. StockNews.com cut shares of AMETEK from a buy rating to a hold rating in a research report on Tuesday, June 18th. 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 report on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $181.20.

AMETEK Stock Performance

AMETEK stock opened at $165.67 on Tuesday. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $38.35 billion, a PE ratio of 29.12, a P/E/G ratio of 2.67 and a beta of 1.18. The firm has a fifty day simple moving average of $169.62 and a two-hundred day simple moving average of $171.69. AMETEK has a twelve month low of $136.89 and a twelve month high of $186.32.

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

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. bought a new position in AMETEK in the fourth quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of AMETEK in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in AMETEK during the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new position in AMETEK during the fourth quarter valued at $28,000. Finally, Rakuten Securities Inc. purchased a new position in AMETEK during the fourth quarter valued at $31,000. 87.43% of the stock is currently owned by institutional investors.

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.