AMETEK (NYSE:AME) Price Target Cut to $197.00 by Analysts at Robert W. Baird

AMETEK (NYSE:AME) had its target price dropped by Robert W. Baird from $200.00 to $197.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 7.86% from the company’s previous close.

A number of other analysts have also recently commented on the stock. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Tuesday, January 28th. Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Mizuho upped their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and upped their price target for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Stock Up 1.3 %

AMETEK stock opened at $182.64 on Wednesday. AMETEK has a twelve month low of $149.03 and a twelve month high of $198.33. The firm has a 50 day moving average price of $184.54 and a 200-day moving average price of $176.61. The company has a market capitalization of $42.25 billion, a P/E ratio of 31.82, a P/E/G ratio of 2.67 and a beta of 1.16. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm earned $1.68 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that AMETEK will post 6.8 EPS for the current year.

Insiders Place Their Bets

In other news, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now owns 30,460 shares in the company, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new position in shares of AMETEK during the 3rd quarter valued at $3,724,000. Everence Capital Management Inc. bought a new position in shares of AMETEK during the 4th quarter valued at $999,000. BNP Paribas Financial Markets grew its holdings in shares of AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after purchasing an additional 67,025 shares during the last quarter. Czech National Bank grew its holdings in shares of AMETEK by 6.3% during the 4th quarter. Czech National Bank now owns 50,153 shares of the technology company’s stock valued at $9,041,000 after purchasing an additional 2,987 shares during the last quarter. Finally, Taurus Asset Management LLC grew its holdings in shares of AMETEK by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after purchasing an additional 3,210 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Company Profile

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.