Robert W. Baird Cuts AMETEK (NYSE:AME) Price Target to $171.00

AMETEK (NYSE:AME) had its price objective lowered by Robert W. Baird from $173.00 to $171.00 in a report published on Monday, Benzinga reports. The brokerage currently has a neutral rating on the technology company’s stock.

A number of other equities analysts also recently commented on the company. Royal Bank of Canada dropped their price objective on AMETEK from $192.00 to $188.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. KeyCorp increased their price objective on AMETEK from $182.00 to $205.00 and gave the stock an overweight rating in a report on Tuesday, February 27th. StockNews.com downgraded AMETEK from a buy rating to a hold rating in a report on Saturday, March 2nd. Finally, Truist Financial started coverage on AMETEK in a report on Thursday, March 14th. They issued a buy rating and a $210.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $179.80.

AMETEK Price Performance

NYSE AME opened at $169.14 on Monday. The company has a 50 day simple moving average of $179.26 and a 200-day simple moving average of $166.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The firm has a market capitalization of $39.15 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 earnings per share. Equities research analysts predict that AMETEK will post 6.81 earnings per share for the current fiscal year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date was Thursday, March 7th. This is an increase from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the transaction, the chief financial officer now owns 101,709 shares in the company, valued at $17,178,650.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the completion of the sale, the chief financial officer now owns 101,709 shares in the company, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock worth $10,689,758 over the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several hedge funds and other institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. bought a new position in AMETEK in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new position in AMETEK in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new position in AMETEK in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new position in AMETEK in the fourth quarter worth $31,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Company Profile

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.