AMETEK, Inc. (NYSE:AME) Receives $197.89 Consensus Price Target from Brokerages

AMETEK, Inc. (NYSE:AME) has been given an average rating of “Moderate Buy” by the eleven research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $197.89.

Several research analysts have recently issued reports on AME shares. Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Morgan Stanley assumed coverage on shares of AMETEK in a report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 target price for the company. Mizuho set a $212.00 target price on shares of AMETEK in a report on Friday, May 16th. Robert W. Baird decreased their price objective on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. Finally, Truist Financial boosted their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th.

AMETEK Price Performance

Shares of AME opened at $178.44 on Friday. AMETEK has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a market cap of $41.20 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.73 and a beta of 1.12. The company’s fifty day simple moving average is $169.22 and its 200 day simple moving average is $178.89. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the company posted $1.64 earnings per share. On average, research analysts forecast that AMETEK will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a $0.31 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. AMETEK’s dividend payout ratio is currently 20.29%.

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 outstanding shares. This repurchase authorization permits the technology company to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 710 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at $1,865,318.40. The trade was a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On AMETEK

A number of hedge funds have recently added to or reduced their stakes in the company. Bares Capital Management Inc. acquired a new position in AMETEK in the 1st quarter valued at about $26,000. Olde Wealth Management LLC acquired a new stake in AMETEK during the 1st quarter worth approximately $29,000. Annis Gardner Whiting Capital Advisors LLC increased its position in AMETEK by 57.7% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 194 shares of the technology company’s stock worth $33,000 after purchasing an additional 71 shares in the last quarter. Banque Transatlantique SA acquired a new stake in AMETEK during the 4th quarter worth approximately $37,000. Finally, Geneos Wealth Management Inc. boosted its holdings in AMETEK by 42.9% in 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. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.