Brokerages Set AMETEK, Inc. (NYSE:AME) PT at $204.67

Shares of AMETEK, Inc. (NYSE:AME - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eleven research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $204.67.

A number of analysts recently issued reports on the stock. Truist Financial raised their target price on shares of AMETEK from $221.00 to $222.00 and gave the stock a "buy" rating in a research report on Thursday, January 16th. 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 research report on Thursday, January 16th. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a research report on Sunday, March 9th. Finally, Bank of America upgraded shares of AMETEK from a "neutral" rating to a "buy" rating and lifted their price target for the company from $195.00 to $225.00 in a report on Monday, December 16th.

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Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the company's stock in a transaction that occurred 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 sale, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in AMETEK by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 26,147,772 shares of the technology company's stock worth $4,713,397,000 after buying an additional 282,208 shares in the last quarter. State Street Corp lifted its position in AMETEK by 0.3% in the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock worth $1,583,231,000 after buying an additional 24,072 shares in the last quarter. FMR LLC increased its stake in shares of AMETEK by 1.1% during the 4th quarter. FMR LLC now owns 8,956,329 shares of the technology company's stock worth $1,614,468,000 after purchasing an additional 98,546 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after purchasing an additional 250,538 shares during the last quarter. Finally, Capital World Investors increased its stake in shares of AMETEK by 70.0% during the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock worth $1,038,301,000 after purchasing an additional 2,371,062 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

AMETEK Price Performance

Shares of AME traded down $1.00 during mid-day trading on Monday, reaching $176.07. 305,177 shares of the company's stock were exchanged, compared to its average volume of 1,156,849. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The company has a 50-day simple moving average of $183.00 and a two-hundred day simple moving average of $180.44. AMETEK has a 52-week low of $149.03 and a 52-week high of $198.33. The company has a market cap of $40.63 billion, a price-to-earnings ratio of 29.66, a PEG ratio of 2.73 and a beta of 1.14.

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

AMETEK announced that its board has approved a stock repurchase plan on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to purchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's board of directors believes its shares are undervalued.

AMETEK Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.31 per share. The ex-dividend date of this dividend is 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 0.70%. AMETEK's dividend payout ratio is currently 20.91%.

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.