AMETEK (NYSE:AME) PT Raised to $165.00 at KeyCorp

AMETEK (NYSE:AMEGet Rating) had its target price upped by KeyCorp from $145.00 to $165.00 in a research note issued to investors on Monday, The Fly reports. The brokerage currently has an overweight rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the company. StockNews.com raised AMETEK from a hold rating to a buy rating in a research report on Tuesday, November 15th. DA Davidson increased their price target on AMETEK to $160.00 in a research report on Tuesday, August 9th. Mizuho increased their price target on AMETEK from $140.00 to $145.00 and gave the company a buy rating in a research report on Wednesday, November 2nd. Morgan Stanley increased their price target on AMETEK from $137.00 to $144.00 and gave the company an overweight rating in a research report on Wednesday, November 2nd. Finally, Royal Bank of Canada increased their price target on AMETEK from $135.00 to $136.00 and gave the company an outperform rating in a research report on Wednesday, November 2nd. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, AMETEK has an average rating of Moderate Buy and an average price target of $149.80.

AMETEK Price Performance

AME opened at $142.08 on Monday. The stock’s 50-day moving average price is $124.73 and its 200 day moving average price is $120.92. AMETEK has a 12-month low of $106.17 and a 12-month high of $148.07. The company has a current ratio of 1.53, a quick ratio of 0.88 and a debt-to-equity ratio of 0.29. The firm has a market cap of $32.63 billion, a price-to-earnings ratio of 29.06, a PEG ratio of 2.59 and a beta of 1.24.

AMETEK (NYSE:AMEGet Rating) last posted its earnings results on Tuesday, November 1st. The technology company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.08. AMETEK had a return on equity of 18.40% and a net margin of 18.81%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the prior year, the company earned $1.26 EPS. AMETEK’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts expect that AMETEK will post 5.63 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Wednesday, December 7th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 6th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.62%. AMETEK’s payout ratio is currently 18.00%.

Insider Activity

In other news, insider Thomas C. Marecic sold 2,318 shares of the stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $141.01, for a total value of $326,861.18. Following the transaction, the insider now owns 31,622 shares in the company, valued at approximately $4,459,018.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Steven W. Kohlhagen sold 3,100 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $123.75, for a total transaction of $383,625.00. Following the transaction, the director now owns 42,864 shares in the company, valued at approximately $5,304,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas C. Marecic sold 2,318 shares of the firm’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $141.01, for a total value of $326,861.18. Following the transaction, the insider now owns 31,622 shares in the company, valued at approximately $4,459,018.22. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky purchased a new position in AMETEK during the 3rd quarter worth approximately $21,208,000. Power Corp of Canada acquired a new position in shares of AMETEK in the third quarter valued at approximately $470,000. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of AMETEK by 2.1% in the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 844,061 shares of the technology company’s stock valued at $95,725,000 after purchasing an additional 17,398 shares during the period. Captrust Financial Advisors increased its holdings in shares of AMETEK by 20.1% in the third quarter. Captrust Financial Advisors now owns 10,665 shares of the technology company’s stock valued at $1,210,000 after purchasing an additional 1,782 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund increased its holdings in shares of AMETEK by 4.3% in the third quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 8,227 shares of the technology company’s stock valued at $933,000 after purchasing an additional 338 shares during the period. Hedge funds and other institutional investors own 85.46% of the company’s stock.

AMETEK Company Profile

(Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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