AMETEK (NYSE:AME) Reaches New 12-Month High at $166.65

AMETEK, Inc. (NYSE:AMEGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $166.65 and last traded at $165.20, with a volume of 51507 shares trading hands. The stock had previously closed at $165.12.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AME. Royal Bank of Canada upped their target price on AMETEK from $183.00 to $186.00 and gave the company an “outperform” rating in a report on Wednesday, November 1st. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. BNP Paribas started coverage on AMETEK in a research note on Thursday, October 5th. They issued a “neutral” rating and a $159.00 price target on the stock. Finally, TD Cowen lowered AMETEK from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $165.00 to $160.00 in a research note on Monday, November 27th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.25.

View Our Latest Stock Analysis on AMETEK

AMETEK Stock Down 0.4 %

The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 1.86. The company has a market cap of $37.74 billion, a price-to-earnings ratio of 29.62, a price-to-earnings-growth ratio of 2.51 and a beta of 1.21. The business has a 50-day simple moving average of $160.54 and a 200-day simple moving average of $155.45.

AMETEK (NYSE:AMEGet Free Report) last released its quarterly earnings data on Tuesday, October 31st. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.06. AMETEK had a return on equity of 18.19% and a net margin of 19.68%. The business had revenue of $1.62 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the business posted $1.45 EPS. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that AMETEK, Inc. will post 6.33 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 22nd. Stockholders of record on Friday, December 8th were issued a $0.25 dividend. The ex-dividend date was Thursday, December 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.61%. AMETEK’s dividend payout ratio is currently 18.12%.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 810 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $155.09, for a total value of $125,622.90. Following the completion of the sale, the director now directly owns 29,454 shares of the company’s stock, valued at approximately $4,568,020.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.72% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Hedge funds and other institutional investors have recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of AMETEK in the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of AMETEK during the 4th quarter valued at $26,000. Bruce G. Allen Investments LLC purchased a new stake in AMETEK during the 4th quarter worth $28,000. Covestor Ltd boosted its position in AMETEK by 84.3% in the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of AMETEK in the 4th quarter valued at about $28,000. 85.70% of the stock is owned by institutional investors and hedge funds.

About AMETEK

(Get Free Report)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.

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