AMETEK (NYSE:AME) Given New $165.00 Price Target at KeyCorp

AMETEK (NYSE:AMEGet Rating) had its target price increased by KeyCorp from $145.00 to $165.00 in a report published on Monday morning, The Fly reports. They currently have an overweight rating on the technology company’s stock.

AME has been the subject of several other research reports. Mizuho increased their target price on shares of AMETEK from $140.00 to $145.00 and gave the stock a buy rating in a research note on Wednesday, November 2nd. Royal Bank of Canada boosted their target price on AMETEK from $135.00 to $136.00 and gave the company an outperform rating in a research report on Wednesday, November 2nd. StockNews.com raised AMETEK from a hold rating to a buy rating in a research note on Tuesday, November 15th. DA Davidson lifted their target price on AMETEK to $160.00 in a research report on Tuesday, August 9th. Finally, Morgan Stanley increased their price target on shares of AMETEK from $137.00 to $144.00 and gave the stock an overweight rating in a research report on Wednesday, November 2nd. Two equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, AMETEK currently has an average rating of Moderate Buy and an average target price of $149.80.

AMETEK Stock Performance

NYSE AME opened at $140.48 on Monday. The stock’s fifty day moving average is $123.99 and its two-hundred day moving average is $120.64. The firm has a market capitalization of $32.26 billion, a P/E ratio of 28.73, a price-to-earnings-growth ratio of 2.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.88 and a current ratio of 1.53. AMETEK has a fifty-two week low of $106.17 and a fifty-two week high of $148.07.

AMETEK (NYSE:AMEGet Rating) last released its quarterly earnings data on Tuesday, November 1st. The technology company reported $1.45 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.08. The company had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.51 billion. AMETEK had a return on equity of 18.40% and a net margin of 18.81%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.26 earnings per share. On average, research analysts anticipate that AMETEK will post 5.63 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 23rd. Stockholders of record on Wednesday, December 7th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, December 6th. AMETEK’s dividend payout ratio is currently 18.00%.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 3,100 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $123.75, for a total value of $383,625.00. Following the completion of the transaction, the director now owns 42,864 shares in the company, valued at $5,304,420. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.72% of the company’s stock.

Institutional Trading of AMETEK

A number of large investors have recently made changes to their positions in AME. CI Investments Inc. boosted its stake in shares of AMETEK by 159.2% during the first quarter. CI Investments Inc. now owns 1,169,628 shares of the technology company’s stock valued at $155,771,000 after acquiring an additional 718,396 shares during the last quarter. CCLA Investment Management acquired a new stake in AMETEK in the 3rd quarter worth about $69,179,000. Renaissance Technologies LLC lifted its stake in shares of AMETEK by 127.5% in the 2nd quarter. Renaissance Technologies LLC now owns 994,518 shares of the technology company’s stock valued at $109,288,000 after purchasing an additional 557,368 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of AMETEK by 45.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,549,101 shares of the technology company’s stock valued at $206,310,000 after purchasing an additional 485,407 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of AMETEK by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company’s stock valued at $3,277,369,000 after buying an additional 463,926 shares during the period. Institutional investors and hedge funds own 85.46% of the company’s stock.

About AMETEK

(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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