AMETEK (NYSE:AME) PT Lowered to $171.00

AMETEK (NYSE:AME) had its price target dropped by investment analysts at Robert W. Baird from $173.00 to $171.00 in a research note issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price would indicate a potential upside of 0.84% from the company’s previous close.

Several other equities analysts have also issued reports on the company. Truist Financial began coverage on AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Royal Bank of Canada lowered their price target on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Finally, KeyCorp lifted their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.80.

AMETEK Stock Performance

Shares of AME stock opened at $169.58 on Monday. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32. The stock has a market cap of $39.25 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The company’s fifty day moving average price is $179.26 and its 200-day moving average price is $166.69.

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

Insider Activity

In other news, CFO William Joseph Burke sold 5,973 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the completion of the sale, the chief financial officer now owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was 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 approximately $5,066,271.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at $17,178,650.10. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock valued at $10,689,758 in the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AME. Commonwealth Equity Services LLC boosted its stake in AMETEK by 1.6% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock worth $2,359,000 after purchasing an additional 257 shares during the period. Raymond James & Associates boosted its stake in AMETEK by 6.4% in the 3rd quarter. Raymond James & Associates now owns 168,898 shares of the technology company’s stock worth $24,956,000 after purchasing an additional 10,173 shares during the period. Stratos Wealth Partners LTD. boosted its stake in AMETEK by 60.0% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,241 shares of the technology company’s stock worth $479,000 after purchasing an additional 1,216 shares during the period. Lindbrook Capital LLC boosted its stake in AMETEK by 84.3% in the 3rd quarter. Lindbrook Capital LLC now owns 435 shares of the technology company’s stock worth $64,000 after purchasing an additional 199 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in AMETEK by 5.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,650 shares of the technology company’s stock worth $9,848,000 after purchasing an additional 3,443 shares during the period. 87.43% of the stock is currently owned by institutional investors.

About AMETEK

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.