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

AMETEK, Inc. (NYSE:AME) has been given an average recommendation of “Moderate Buy” by the eight analysts that are currently covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $186.29.

AME has been the topic of several recent analyst reports. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Royal Bank of Canada lowered their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday. TD Cowen decreased their target price on AMETEK from $165.00 to $158.00 and set a “hold” rating on the stock in a report on Monday. Finally, Truist Financial cut their price target on AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in AMETEK by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after buying an additional 84,832 shares in the last quarter. JPMorgan Chase & Co. increased its stake in AMETEK by 48.4% in the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in AMETEK by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after purchasing an additional 44,899 shares in the last quarter. Capital International Investors lifted its stake in AMETEK by 5.0% during the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock worth $692,051,000 after purchasing an additional 198,777 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Price Performance

Shares of NYSE AME opened at $158.83 on Friday. AMETEK has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The stock has a market capitalization of $36.76 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66. The business has a 50-day moving average of $167.90 and a 200-day moving average of $172.36.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the firm earned $1.57 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that AMETEK will post 6.78 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.71%. AMETEK’s payout ratio is 19.68%.

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.