Research Analysts’ Weekly Ratings Updates for AMETEK (AME)

AMETEK (NYSE: AME) has recently received a number of price target changes and ratings updates:

• 8/7/2024 – AMETEK had its price target lowered by analysts at Robert W. Baird from $171.00 to $166.00. They now have a “neutral” rating on the stock.
• 8/6/2024 – AMETEK was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/5/2024 – AMETEK had its price target lowered by analysts at TD Cowen from $165.00 to $158.00. They now have a “hold” rating on the stock.
• 8/2/2024 – AMETEK was upgraded by analysts at Redburn Atlantic to a “strong-buy” rating.
• 8/2/2024 – AMETEK had its price target lowered by analysts at Royal Bank of Canada from $216.00 to $215.00. They now have an “outperform” rating on the stock.
• 8/2/2024 – AMETEK had its price target lowered by analysts at Truist Financial Co. from $204.00 to $201.00. They now have a “buy” rating on the stock.
• 7/29/2024 – AMETEK was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 7/2/2024 – AMETEK had its price target lowered by analysts at Truist Financial Co. from $210.00 to $204.00. They now have a “buy” rating on the stock.
• 6/18/2024 – AMETEK was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

AMETEK Stock Up 1.1 %

NYSE:AME traded up $1.73 during mid-day trading on Monday, hitting $161.25. 1,469,555 shares of the company’s stock were exchanged, compared to its average volume of 1,130,822. The business has a fifty day moving average price of $167.70 and a 200 day moving average price of $172.45. The company has a market cap of $37.32 billion, a PE ratio of 28.34, a P/E/G ratio of 2.57 and a beta of 1.18. AMETEK, Inc. has a one year low of $136.89 and a one year high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.57 EPS. Equities analysts predict that AMETEK, Inc. will post 6.78 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction 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 completion of the sale, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK 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 completion of the sale, the director now directly owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction 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 sale, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently made changes to their positions in AME. Norges Bank bought a new stake in shares of AMETEK in the fourth quarter worth $589,098,000. JPMorgan Chase & Co. lifted its holdings in shares of AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after buying an additional 926,657 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of AMETEK by 256.3% in the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after purchasing an additional 702,674 shares during the period. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of AMETEK by 4,845.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after purchasing an additional 663,385 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

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.