AMETEK (NYSE:AME) Upgraded to Outperform at Oppenheimer

Oppenheimer upgraded shares of AMETEK (NYSE:AME) from a market perform rating to an outperform rating in a research report report published on Wednesday morning, Marketbeat.com reports. Oppenheimer currently has $200.00 price objective on the technology company’s stock.

AME has been the subject of a number of other research reports. StockNews.com upgraded shares of AMETEK from a hold rating to a buy rating in a research report on Monday, May 13th. KeyCorp lifted their price target on AMETEK from $182.00 to $205.00 and gave the company an overweight rating in a research note on Tuesday, February 27th. Robert W. Baird cut their price objective on AMETEK from $173.00 to $171.00 and set a neutral rating for the company in a research report on Monday, May 6th. Truist Financial started coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a buy rating and a $210.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on shares of AMETEK from $192.00 to $188.00 and set an outperform rating for the company in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, AMETEK presently has an average rating of Moderate Buy and a consensus target price of $181.64.

AMETEK Trading Up 3.0 %

Shares of AMETEK stock opened at $174.13 on Wednesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The company has a market capitalization of $40.31 billion, a P/E ratio of 30.60, a PEG ratio of 2.70 and a beta of 1.21. AMETEK has a 1 year low of $136.89 and a 1 year high of $186.32. The company’s fifty day moving average is $176.80 and its two-hundred day moving average is $168.69.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business’s revenue was up 9.0% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. Analysts forecast that AMETEK will post 6.83 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,941 shares of company stock valued at $6,992,804. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Several institutional investors have recently added to or reduced their stakes in AME. Atria Investments Inc increased its stake in shares of AMETEK by 33.7% during the 1st quarter. Atria Investments Inc now owns 10,020 shares of the technology company’s stock valued at $1,833,000 after acquiring an additional 2,527 shares during the last quarter. Swedbank AB purchased a new stake in AMETEK in the first quarter valued at approximately $3,833,000. Virtu Financial LLC increased its position in AMETEK by 859.7% during the first quarter. Virtu Financial LLC now owns 18,176 shares of the technology company’s stock worth $3,324,000 after purchasing an additional 16,282 shares during the last quarter. Citizens Financial Group Inc. RI purchased a new position in shares of AMETEK in the 1st quarter worth $542,000. Finally, EdgePoint Investment Group Inc. lifted its stake in shares of AMETEK by 1.1% in the 1st quarter. EdgePoint Investment Group Inc. now owns 945,183 shares of the technology company’s stock valued at $172,874,000 after purchasing an additional 10,428 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.