Robert W. Baird Cuts AMETEK (NYSE:AME) Price Target to $171.00

AMETEK (NYSE:AME) had its price objective trimmed by Robert W. Baird from $173.00 to $171.00 in a research report report published on Monday morning, Benzinga reports. The firm currently has a neutral rating on the technology company’s stock.

AME has been the subject of a number of other research reports. Royal Bank of Canada decreased their price target on shares of AMETEK from $192.00 to $188.00 and set an outperform rating for the company in a research note on Wednesday, February 7th. KeyCorp upped their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. StockNews.com downgraded shares of AMETEK from a buy rating to a hold rating in a research report on Saturday, March 2nd. Finally, Truist Financial began coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a buy rating and a $210.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $179.80.

AMETEK Trading Down 0.3 %

Shares of AMETEK stock opened at $169.14 on Monday. The stock has a market cap of $39.15 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.66 and a beta of 1.21. The company has a fifty day simple moving average of $179.26 and a 200-day simple moving average of $166.69. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. AMETEK has a 12-month low of $136.89 and a 12-month high of $186.32.

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

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date was Thursday, March 7th. This is an increase from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Insider Activity

In other news, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 101,709 shares in the company, valued at approximately $17,178,650.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the transaction, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of the firm’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 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 worth $10,689,758 in the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Several hedge funds have recently added to or reduced their stakes in AME. Commonwealth Equity Services LLC increased its holdings in AMETEK by 1.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock valued at $2,359,000 after acquiring an additional 257 shares in the last quarter. Raymond James & Associates boosted its stake in shares of AMETEK by 6.4% during 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 last quarter. Stratos Wealth Partners LTD. boosted its stake in shares of AMETEK by 60.0% during 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 last quarter. Lindbrook Capital LLC boosted its stake in shares of AMETEK by 84.3% during 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of AMETEK by 5.4% during 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 last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.