KeyCorp Boosts AMETEK (NYSE:AME) Price Target to $182.00

AMETEK (NYSE:AMEFree Report) had its target price raised by KeyCorp from $176.00 to $182.00 in a research report sent to investors on Wednesday morning, Marketbeat Ratings reports. KeyCorp currently has an overweight rating on the technology company’s stock.

Several other equities analysts have also recently commented on the stock. TD Cowen cut shares of AMETEK from an outperform rating to a market perform rating and cut their target price for the company from $165.00 to $160.00 in a research note on Monday, November 27th. Royal Bank of Canada upped their price objective on shares of AMETEK from $183.00 to $186.00 and gave the company an outperform rating in a research report on Wednesday, November 1st. Finally, upgraded AMETEK from a hold rating to a buy rating in a research note on Wednesday, January 10th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, AMETEK presently has an average rating of Moderate Buy and an average price target of $174.25.

Read Our Latest Stock Report on AME

AMETEK Trading Up 1.3 %

Shares of NYSE:AME opened at $168.50 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.21 and a current ratio of 0.98. The stock’s 50-day moving average is $162.94 and its 200-day moving average is $156.04. The company has a market cap of $38.89 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.65 and a beta of 1.21. AMETEK has a 52-week low of $131.52 and a 52-week high of $168.63.

AMETEK (NYSE:AMEGet Free Report) last released its earnings results on Tuesday, February 6th. The technology company reported $1.68 earnings per share (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 for the quarter, compared to analyst estimates of $1.73 billion. During the same quarter last year, the firm posted $1.52 EPS. The company’s revenue was up 6.1% on a year-over-year basis. Equities research analysts predict that AMETEK will post 6.84 earnings per share for the current year.

AMETEK Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 8th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Thursday, March 7th. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio is 17.64%.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 810 shares of the 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 transaction, the director now directly owns 29,454 shares of the company’s stock, valued at approximately $4,568,020.86. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several large investors have recently made changes to their positions in the company. Norges Bank bought a new stake in AMETEK during the fourth quarter worth about $509,944,000. Price T Rowe Associates Inc. MD grew its position in AMETEK by 643.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock worth $552,332,000 after acquiring an additional 3,421,558 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in AMETEK by 39,681.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock valued at $255,348,000 after purchasing an additional 1,822,975 shares in the last quarter. Morgan Stanley raised its position in AMETEK by 93.2% in the 4th quarter. Morgan Stanley now owns 3,678,094 shares of the technology company’s stock valued at $513,903,000 after purchasing an additional 1,774,651 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in AMETEK by 5.4% in the second quarter. BlackRock Inc. now owns 17,085,162 shares of the technology company’s stock worth $2,765,746,000 after purchasing an additional 870,060 shares in the last quarter. Institutional investors own 85.70% of the company’s stock.

AMETEK Company Profile

(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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Analyst Recommendations for AMETEK (NYSE:AME)

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