AMETEK, Inc. (NYSE:AME) Receives $199.29 Average Price Target from Brokerages

AMETEK, Inc. (NYSE:AME - Get Free Report) has received an average rating of "Moderate Buy" from the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $199.29.

Several research analysts have weighed in on the company. Truist Financial boosted their price target on AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a report on Friday, November 1st. Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research note on Wednesday. KeyCorp upped their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, TD Cowen cut shares of AMETEK from a "hold" rating to a "sell" rating in a research report on Monday, October 7th.

AMETEK Price Performance

Shares of NYSE:AME traded down $2.14 on Friday, hitting $191.54. The company had a trading volume of 995,677 shares, compared to its average volume of 1,157,755. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The company has a market cap of $44.31 billion, a PE ratio of 33.37, a PEG ratio of 3.18 and a beta of 1.15. AMETEK has a 52-week low of $149.03 and a 52-week high of $198.33. The business has a 50 day moving average of $181.31 and a 200 day moving average of $172.52.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.64 EPS. As a group, equities analysts anticipate that AMETEK will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Friday, December 6th. AMETEK's payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm's stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the company's stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,660 shares of company stock valued at $5,958,141 over the last three months. 0.61% of the stock is owned by company insiders.

Institutional Trading of AMETEK

A number of hedge funds and other institutional investors have recently made changes to their positions in AME. State Street Corp raised its position in shares of AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock valued at $1,583,231,000 after acquiring an additional 24,072 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of AMETEK by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company's stock worth $924,308,000 after purchasing an additional 45,459 shares during the period. Bank of New York Mellon Corp lifted its position in shares of AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company's stock worth $600,615,000 after buying an additional 926,657 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in shares of AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company's stock valued at $337,279,000 after buying an additional 918,737 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of AMETEK by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company's stock valued at $313,777,000 after buying an additional 148,447 shares during the last quarter. Institutional investors own 87.43% of the company's stock.

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.