AMETEK (NYSE:AME) Price Target Raised to $140.00 at Mizuho

AMETEK (NYSE:AMEGet Rating) had its target price raised by Mizuho from $135.00 to $140.00 in a research report sent to investors on Wednesday, Benzinga reports. Mizuho currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also commented on AME. Bank of America lowered shares of AMETEK from a buy rating to a neutral rating and decreased their price objective for the stock from $170.00 to $122.00 in a research note on Monday, July 11th. KeyCorp decreased their target price on shares of AMETEK from $155.00 to $145.00 in a research note on Wednesday, May 4th. Robert W. Baird decreased 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. Loop Capital decreased their target price on shares of AMETEK from $170.00 to $155.00 and set a buy rating for the company in a research note on Tuesday, July 19th. Finally, Morgan Stanley lifted their target price on shares of AMETEK from $135.00 to $145.00 and gave the company an overweight rating in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, AMETEK presently has an average rating of Moderate Buy and an average target price of $147.13.

AMETEK Trading Up 0.7 %

Shares of NYSE:AME opened at $126.25 on Wednesday. The company has a 50 day moving average price of $115.29 and a 200 day moving average price of $124.48. AMETEK has a 1-year low of $106.17 and a 1-year high of $148.07. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.88 and a current ratio of 1.48. The stock has a market capitalization of $29.15 billion, a price-to-earnings ratio of 26.86, a PEG ratio of 2.53 and a beta of 1.26.

AMETEK (NYSE:AMEGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The technology company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.09. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter last year, the business posted $1.15 EPS. The company’s revenue was up 9.2% on a year-over-year basis. On average, research analysts anticipate that AMETEK will post 5.5 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Wednesday, September 14th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.70%. AMETEK’s dividend payout ratio is currently 18.72%.

AMETEK declared that its board has authorized a share repurchase plan on Friday, May 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the technology company to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Whittier Trust Co. raised its holdings in shares of AMETEK by 4.6% during the 1st quarter. Whittier Trust Co. now owns 2,063 shares of the technology company’s stock valued at $275,000 after purchasing an additional 91 shares in the last quarter. Brinker Capital Investments LLC raised its holdings in AMETEK by 0.8% in the 1st quarter. Brinker Capital Investments LLC now owns 12,602 shares of the technology company’s stock worth $1,679,000 after acquiring an additional 94 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in AMETEK by 22.6% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 521 shares of the technology company’s stock worth $69,000 after acquiring an additional 96 shares during the period. Covestor Ltd raised its holdings in AMETEK by 84.3% in the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after acquiring an additional 97 shares during the period. Finally, Clark Capital Management Group Inc. raised its holdings in AMETEK by 0.8% in the 1st quarter. Clark Capital Management Group Inc. now owns 12,680 shares of the technology company’s stock worth $1,689,000 after acquiring an additional 98 shares during the period. Institutional investors own 86.72% of the company’s stock.

About AMETEK

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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.

Further Reading

Analyst Recommendations for AMETEK (NYSE:AME)

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