Shares of AMETEK, Inc. (NYSE:AME) have received an average rating of “Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. Twelve investment analysts have rated the stock with a buy recommendation. The average 1-year price target among brokers that have issued a report on the stock in the last year is $86.80.
AME has been the topic of several recent research reports. Cowen reaffirmed a “buy” rating and issued a $91.00 price target on shares of AMETEK in a research note on Wednesday, December 12th. Morgan Stanley raised AMETEK from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $81.00 to $85.00 in a research report on Tuesday, December 18th. Royal Bank of Canada restated a “buy” rating and set a $82.00 target price on shares of AMETEK in a report on Wednesday, December 19th. Zacks Investment Research downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Thursday, January 3rd. Finally, Stephens reaffirmed a “buy” rating and issued a $79.00 target price on shares of AMETEK in a research report on Sunday, January 6th.
In related news, Director Elizebeth R. Varet sold 1,950 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $78.38, for a total transaction of $152,841.00. Following the transaction, the director now owns 104,810 shares in the company, valued at $8,215,007.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Timothy N. Jones sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $82.20, for a total transaction of $411,000.00. Following the completion of the sale, the insider now owns 37,177 shares in the company, valued at approximately $3,055,949.40. The disclosure for this sale can be found here. Insiders sold 119,563 shares of company stock worth $9,513,354 over the last three months. Corporate insiders own 0.80% of the company’s stock.
AMETEK stock traded up $0.26 during trading hours on Wednesday, hitting $84.55. 248,060 shares of the stock traded hands, compared to its average volume of 1,168,488. AMETEK has a one year low of $63.14 and a one year high of $84.74. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46. The stock has a market cap of $19.18 billion, a price-to-earnings ratio of 25.70, a PEG ratio of 2.18 and a beta of 1.21.
AMETEK (NYSE:AME) last announced its earnings results on Tuesday, February 5th. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.26 billion. AMETEK had a return on equity of 17.72% and a net margin of 16.05%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS. On average, analysts predict that AMETEK will post 4.04 earnings per share for the current year.
AMETEK declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 13th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the technology company to reacquire up to 2.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date was Thursday, March 14th. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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