AMETEK, Inc. (NYSE:AME) Given Average Rating of “Buy” by Analysts

AMETEK, Inc. (NYSE:AMEGet Rating) has earned an average recommendation of “Buy” from the ten research firms that are covering the company, reports. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $146.56.

AME has been the topic of a number of recent research reports. Morgan Stanley cut their price objective on AMETEK from $144.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 31st. started coverage on shares of AMETEK in a report on Thursday, March 31st. They set a “hold” rating for the company. Robert W. Baird lowered their target price on shares of AMETEK from $156.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday, May 10th. Finally, KeyCorp decreased their price target on AMETEK from $155.00 to $145.00 in a report on Wednesday, May 4th.

In related news, Director Anthony James Conti sold 5,160 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $133.37, for a total transaction of $688,189.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 615 shares of the stock in a transaction on Monday, March 28th. The stock was sold at an average price of $133.03, for a total value of $81,813.45. The disclosure for this sale can be found here. 0.72% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of AME. Amundi Pioneer Asset Management Inc. boosted its holdings in AMETEK by 16.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 242,237 shares of the technology company’s stock valued at $20,098,000 after acquiring an additional 33,825 shares during the last quarter. Tudor Investment Corp Et Al raised its position in AMETEK by 173.3% in the third quarter. Tudor Investment Corp Et Al now owns 38,226 shares of the technology company’s stock valued at $4,740,000 after purchasing an additional 24,237 shares during the period. MML Investors Services LLC raised its position in AMETEK by 7.6% in the third quarter. MML Investors Services LLC now owns 13,701 shares of the technology company’s stock valued at $1,699,000 after purchasing an additional 966 shares during the period. Wellington Management Group LLP raised its position in AMETEK by 9.6% in the third quarter. Wellington Management Group LLP now owns 1,665,251 shares of the technology company’s stock valued at $206,509,000 after purchasing an additional 146,199 shares during the period. Finally, Toroso Investments LLC raised its position in AMETEK by 17.4% in the third quarter. Toroso Investments LLC now owns 2,029 shares of the technology company’s stock valued at $252,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 86.72% of the company’s stock.

Shares of AMETEK stock opened at $107.14 on Tuesday. AMETEK has a fifty-two week low of $106.17 and a fifty-two week high of $148.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.88 and a current ratio of 1.43. The firm has a market capitalization of $24.74 billion, a price-to-earnings ratio of 23.92, a PEG ratio of 2.10 and a beta of 1.27. The stock has a 50 day moving average of $121.67 and a 200 day moving average of $130.98.

AMETEK (NYSE:AMEGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The technology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to the consensus estimate of $1.46 billion. AMETEK had a net margin of 18.02% and a return on equity of 17.82%. The business’s revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 EPS. Analysts forecast that AMETEK will post 5.44 EPS for the current year.

AMETEK declared that its Board of Directors has authorized a share repurchase plan on Friday, May 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the technology company to reacquire up to 3.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 10th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 9th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.82%. AMETEK’s payout ratio is 19.64%.

AMETEK Company Profile (Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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