AMETEK (NYSE:AME) Stock Price Expected to Rise, Robert W. Baird Analyst Says

AMETEK (NYSE:AME) had its price objective raised by Robert W. Baird from $166.00 to $186.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada reduced their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Mizuho lifted their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK Stock Performance

AMETEK stock opened at $179.92 on Monday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $169.41 and its 200 day moving average is $168.88. AMETEK has a twelve month low of $141.65 and a twelve month high of $186.32. The company has a market capitalization of $41.62 billion, a P/E ratio of 31.34, a PEG ratio of 2.91 and a beta of 1.16.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. AMETEK’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.64 EPS. On average, equities research analysts predict that AMETEK will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.62%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AME. Norden Group LLC bought a new position in shares of AMETEK in the first quarter worth about $251,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of AMETEK by 6.2% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,926 shares of the technology company’s stock valued at $6,571,000 after buying an additional 2,105 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of AMETEK by 4.0% in the first quarter. Nordea Investment Management AB now owns 24,756 shares of the technology company’s stock worth $4,539,000 after buying an additional 961 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its position in shares of AMETEK by 1.9% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 3,477 shares of the technology company’s stock worth $636,000 after acquiring an additional 64 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in AMETEK during the first quarter valued at $637,000. Institutional investors 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.