AMETEK, Inc. (NYSE:AME) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of AMETEK, Inc. (NYSE:AME) have earned an average rating of “Moderate Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $256.2857.

Several research analysts recently weighed in on AME shares. Robert W. Baird set a $244.00 price objective on shares of AMETEK in a research note on Friday, May 1st. Barclays increased their target price on shares of AMETEK from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Mizuho set a $270.00 price target on shares of AMETEK in a research report on Friday, May 1st. Truist Financial raised their price objective on AMETEK from $275.00 to $303.00 and gave the stock a “buy” rating in a research note on Thursday, July 2nd. Finally, Rothschild & Co Redburn set a $265.00 target price on AMETEK in a research note on Thursday, June 18th.

AMETEK Price Performance

AMETEK stock opened at $244.02 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.72 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $55.93 billion, a P/E ratio of 36.86, a PEG ratio of 3.39 and a beta of 0.98. The business has a 50-day moving average of $233.95 and a 200-day moving average of $228.88. AMETEK has a 1 year low of $179.24 and a 1 year high of $244.97.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, June 15th. AMETEK’s payout ratio is 20.54%.

Institutional Investors Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently bought and sold shares of AME. Norges Bank acquired a new stake in shares of AMETEK in the fourth quarter valued at about $831,372,000. Wellington Management Group LLP boosted its position in AMETEK by 302.9% during the fourth quarter. Wellington Management Group LLP now owns 2,807,664 shares of the technology company’s stock valued at $576,441,000 after purchasing an additional 2,110,818 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in AMETEK by 539.2% in the fourth quarter. Balyasny Asset Management L.P. now owns 1,070,555 shares of the technology company’s stock valued at $219,796,000 after purchasing an additional 903,061 shares in the last quarter. Lazard Asset Management LLC increased its position in shares of AMETEK by 35.7% during the 3rd quarter. Lazard Asset Management LLC now owns 2,645,977 shares of the technology company’s stock worth $497,444,000 after purchasing an additional 695,419 shares during the last quarter. Finally, Man Group plc increased its position in shares of AMETEK by 411.8% during the 3rd quarter. Man Group plc now owns 785,020 shares of the technology company’s stock worth $147,584,000 after purchasing an additional 631,649 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.