Brokerages Set AMETEK, Inc. (NYSE:AME) Price Target at $201.78

AMETEK, Inc. (NYSE:AME - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twelve brokerages that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $198.60.

A number of equities analysts have recently weighed in on AME shares. Robert W. Baird cut their price target on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. BNP Paribas upgraded shares of AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. Truist Financial lowered their price target on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Morgan Stanley started coverage on AMETEK in a report on Monday. They set an "equal weight" rating and a $170.00 price objective on the stock.

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Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the transaction, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the transaction, the director now owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Oddo BHF Asset Management Sas acquired a new position in shares of AMETEK during the third quarter valued at $3,724,000. Everence Capital Management Inc. acquired a new position in AMETEK during the 4th quarter valued at about $999,000. National Bank of Canada FI boosted its holdings in shares of AMETEK by 17.4% in the fourth quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after acquiring an additional 21,009 shares in the last quarter. Czech National Bank boosted its stake in 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 in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in AMETEK by 434.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company's stock valued at $97,614,000 after buying an additional 440,197 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

AMETEK Price Performance

Shares of AME stock traded down $1.06 during mid-day trading on Friday, reaching $159.15. The stock had a trading volume of 29,170 shares, compared to its average volume of 1,413,562. AMETEK has a 12-month low of $145.02 and a 12-month high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The business has a 50-day simple moving average of $175.91 and a 200 day simple moving average of $179.94. The company has a market cap of $36.72 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.85 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. During the same quarter in the previous year, the business posted $1.68 earnings per share. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that AMETEK will post 7.15 earnings per share for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $0.31 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from AMETEK's previous quarterly dividend of $0.28. This represents a $1.24 annualized dividend and a yield of 0.78%. AMETEK's dividend payout ratio (DPR) is 20.91%.

AMETEK announced that its Board of Directors has initiated a stock buyback plan on Friday, February 7th that permits the company to repurchase $1.25 billion in shares. This repurchase authorization permits the technology company to reacquire up to 2.9% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

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.