Analysts Set AMETEK, Inc. (NYSE:AME) PT at $204.67

AMETEK, Inc. (NYSE:AME) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $204.67.

A number of equities research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. KeyCorp lifted their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial boosted their target price on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Finally, Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,320 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Versant Capital Management Inc grew its position in AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after acquiring an additional 187 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after acquiring an additional 77 shares in the last quarter. Banque Transatlantique SA purchased a new position in AMETEK in the fourth quarter worth $37,000. AdvisorNet Financial Inc grew its position in AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after acquiring an additional 200 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its position in AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Price Performance

AMETEK stock opened at $177.22 on Monday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The stock has a market cap of $40.89 billion, a P/E ratio of 29.89, a P/E/G ratio of 2.73 and a beta of 1.14. The company’s 50 day moving average price is $183.00 and its two-hundred day moving average price is $180.44. AMETEK has a 52 week low of $149.03 and a 52 week high of $198.33.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. AMETEK’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. On average, equities analysts predict that AMETEK will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.31 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Friday, March 14th. AMETEK’s payout ratio is 20.91%.

AMETEK declared that its board has approved a share repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to repurchase up to 2.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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.