AMETEK, Inc. (NYSE:AME) Receives $202.50 Consensus Price Target from Brokerages

AMETEK, Inc. (NYSE:AME) has received an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $202.50.

Several equities analysts have issued reports on AME shares. Mizuho lifted their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial lifted their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Robert W. Baird increased 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. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st.

Insider Buying and Selling

In related news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now owns 30,460 shares of the company’s stock, valued at $5,967,114. This trade represents a 18.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David F. Hermance sold 6,243 shares of the company’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 completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock valued at $5,707,620 over the last three months. Company insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

A number of large investors have recently made changes to their positions in AME. EdgePoint Investment Group Inc. grew its stake in AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares during the period. Meridiem Investment Management Ltd. bought a new position in shares of AMETEK during the 3rd quarter valued at about $130,579,000. Principal Financial Group Inc. grew its position in shares of AMETEK by 72.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares during the period. D1 Capital Partners L.P. bought a new stake in AMETEK during the 3rd quarter worth approximately $79,782,000. Finally, James Hambro & Partners LLP acquired a new stake in AMETEK during the 3rd quarter worth approximately $60,188,000. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 0.7 %

Shares of NYSE:AME opened at $179.57 on Wednesday. The company has a market capitalization of $41.54 billion, a PE ratio of 31.28, a P/E/G ratio of 3.08 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. The company’s fifty day moving average is $187.38 and its 200-day moving average is $174.45. AMETEK has a 52 week low of $149.03 and a 52 week high of $198.33.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share 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 firm had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts predict that AMETEK will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

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.