AMETEK (NYSE:AME) Price Target Raised to $145.00 at Morgan Stanley

AMETEK (NYSE:AMEGet Rating) had its price objective boosted by Morgan Stanley from $135.00 to $145.00 in a research report released on Wednesday, reports. Morgan Stanley currently has an overweight rating on the technology company’s stock.

Several other equities research analysts also recently weighed in on AME. Robert W. Baird decreased their price target on AMETEK from $156.00 to $140.00 and set a neutral rating for the company in a report on Tuesday, May 10th. Bank of America cut AMETEK from a buy rating to a neutral rating and dropped their price objective for the stock from $170.00 to $122.00 in a research report on Monday, July 11th. Loop Capital lowered their price target on AMETEK from $170.00 to $155.00 and set a buy rating for the company in a report on Tuesday, July 19th. Mizuho reduced their price target on AMETEK from $159.00 to $135.00 and set a buy rating on the stock in a research report on Monday, July 18th. Finally, KeyCorp lowered their price objective on AMETEK from $155.00 to $145.00 in a research note on Wednesday, May 4th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $147.13.

AMETEK Stock Up 0.7 %

Shares of AMETEK stock opened at $126.25 on Wednesday. The firm’s 50 day moving average price is $115.29 and its 200-day moving average price is $124.48. The company has a market cap of $29.15 billion, a P/E ratio of 26.86, a PEG ratio of 2.53 and a beta of 1.26. The company has a quick ratio of 0.88, a current ratio of 1.48 and a debt-to-equity ratio of 0.31. AMETEK has a 52-week low of $106.17 and a 52-week high of $148.07.

AMETEK (NYSE:AMEGet Rating) last released its earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share (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 business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same quarter in the prior year, the firm earned $1.15 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, sell-side analysts predict that AMETEK will post 5.5 EPS for the current fiscal year.

AMETEK announced that its Board of Directors has authorized a stock repurchase plan on Friday, May 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the technology company to purchase up to 3.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

AMETEK Announces Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Ascent Group LLC boosted its stake in shares of AMETEK by 20.5% in the 2nd quarter. Ascent Group LLC now owns 3,844 shares of the technology company’s stock worth $475,000 after buying an additional 655 shares during the last quarter. MQS Management LLC purchased a new stake in shares of AMETEK in the second quarter valued at approximately $964,000. M&T Bank Corp lifted its holdings in AMETEK by 6.3% during the second quarter. M&T Bank Corp now owns 32,323 shares of the technology company’s stock worth $3,441,000 after buying an additional 1,913 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of AMETEK during the second quarter worth $3,064,000. Finally, Bank of Nova Scotia increased its position in shares of AMETEK by 278.4% in the 2nd quarter. Bank of Nova Scotia now owns 314,493 shares of the technology company’s stock valued at $34,562,000 after acquiring an additional 231,380 shares during the period. Institutional investors own 86.72% of the company’s stock.


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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.

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Analyst Recommendations for AMETEK (NYSE:AME)

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