Brokerages Set AMETEK, Inc. (NYSE:AME) Price Target at $197.86

Shares of AMETEK, Inc. (NYSE:AME) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $197.86.

AME has been the subject of several research analyst reports. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Friday. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial raised their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Robert W. Baird lifted their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th.

AMETEK Stock Down 0.3 %

AMETEK stock opened at $193.10 on Tuesday. AMETEK has a 52 week low of $149.03 and a 52 week high of $196.70. The stock has a market cap of $44.67 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.19 and a beta of 1.16. The company’s 50-day moving average price is $173.59 and its two-hundred day moving average price is $169.82. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $1.64 earnings per share. On average, analysts expect that AMETEK will post 6.81 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s payout ratio is currently 19.51%.

Insider Transactions at AMETEK

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

Hedge Funds Weigh In On AMETEK

A number of hedge funds have recently modified their holdings of the stock. Empowered Funds LLC increased its position in AMETEK by 14.7% in the 1st quarter. Empowered Funds LLC now owns 9,064 shares of the technology company’s stock worth $1,658,000 after purchasing an additional 1,162 shares during the last quarter. Headlands Technologies LLC bought a new position in AMETEK during the first quarter valued at approximately $43,000. QRG Capital Management Inc. lifted its stake in AMETEK by 4.8% in the first quarter. QRG Capital Management Inc. now owns 10,910 shares of the technology company’s stock valued at $1,995,000 after acquiring an additional 496 shares during the last quarter. Qsemble Capital Management LP bought a new stake in AMETEK in the first quarter worth approximately $510,000. Finally, Russell Investments Group Ltd. increased its stake in shares of AMETEK by 1.7% during the 1st quarter. Russell Investments Group Ltd. now owns 90,724 shares of the technology company’s stock worth $16,609,000 after purchasing an additional 1,522 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.