AMETEK, Inc. (NYSE:AME) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of AMETEK, Inc. (NYSE:AME) have been given a consensus rating of “Moderate Buy” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $180.78.

A number of analysts recently commented on AME shares. Royal Bank of Canada dropped their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. KeyCorp boosted their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research note on Tuesday, February 27th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Finally, Truist Financial assumed coverage on AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company.

AMETEK Trading Down 0.2 %

NYSE AME opened at $177.91 on Friday. The business has a 50 day simple moving average of $180.05 and a 200 day simple moving average of $165.16. AMETEK has a one year low of $133.12 and a one year high of $186.32. The stock has a market capitalization of $41.13 billion, a P/E ratio of 31.38, a P/E/G ratio of 2.87 and a beta of 1.22. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter last year, the firm posted $1.52 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. Research analysts expect that AMETEK will post 6.82 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a yield of 0.63%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is currently 19.75%.

Insiders Place Their Bets

In other news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other AMETEK news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, the director now owns 10,240 shares in the company, valued at $1,863,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value of $1,008,839.70. Following the transaction, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,178,650.10. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 over the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Hedge funds have recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in AMETEK in the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of AMETEK during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of AMETEK during the fourth quarter worth about $26,000. Bruce G. Allen Investments LLC acquired a new position in AMETEK during the fourth quarter worth about $28,000. Finally, Rakuten Securities Inc. purchased a new stake in shares of AMETEK in the fourth quarter valued at about $31,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.