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

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

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

AMETEK Price Performance

Shares of NYSE AME opened at $168.05 on Monday. AMETEK has a twelve month low of $136.89 and a twelve month high of $186.32. The firm has a market capitalization of $38.90 billion, a P/E ratio of 29.53, a P/E/G ratio of 2.66 and a beta of 1.21. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock’s 50-day simple moving average is $179.42 and its two-hundred day simple moving average is $166.49.

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

AMETEK Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were paid a dividend of $0.28 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. AMETEK’s payout ratio is presently 19.68%.

Insider Activity at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $168.90, for a total value of $1,008,839.70. Following the completion of the sale, the chief financial officer now directly owns 101,709 shares in the company, valued at $17,178,650.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 1,400 shares of AMETEK stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the transaction, the director now directly owns 28,054 shares in the company, valued at $5,066,271.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total value 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 59,881 shares of company stock worth $10,689,758 over the last 90 days. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. purchased a new stake in AMETEK in the fourth quarter worth approximately $25,000. Wetzel Investment Advisors Inc. bought a new position in shares of AMETEK during the 4th quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of AMETEK in the 4th quarter worth $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of AMETEK in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. purchased a new stake in AMETEK during the fourth quarter valued at $31,000. Hedge funds and other institutional investors 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.