Brokerages Set AMETEK, Inc. (NYSE:AME) PT at $204.67

AMETEK, Inc. (NYSE:AME) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $204.67.

Several brokerages have weighed in on AME. Robert W. Baird cut their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Sunday, March 9th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and upped their price target for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, Truist Financial upped their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a report on Thursday, January 16th.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares of the company’s stock, valued at approximately $4,172,512.89. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

A number of hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in AMETEK by 4.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after acquiring an additional 63 shares during the period. Kensington Investment Counsel LLC lifted its position in AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after acquiring an additional 66 shares during the period. AlphaMark Advisors LLC lifted its position in AMETEK by 2.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after acquiring an additional 70 shares during the period. Geneos Wealth Management Inc. lifted its position in AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the period. Finally, Quotient Wealth Partners LLC lifted its position in AMETEK by 3.9% during the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after acquiring an additional 70 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Price Performance

AME stock opened at $174.50 on Monday. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $40.26 billion, a PE ratio of 29.43, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK has a 12-month low of $149.03 and a 12-month high of $198.33. The business’s fifty day moving average price is $182.92 and its 200 day moving average price is $180.62.

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

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 given 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 dividend on an annualized basis and a dividend yield of 0.71%. AMETEK’s dividend payout ratio is 20.91%.

AMETEK announced that its Board of Directors has initiated a share 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 generally an indication that the company’s leadership believes its shares are undervalued.

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.