Analysts Set AMETEK, Inc. (AME) PT at $86.80

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.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oregon Public Employees Retirement Fund grew its stake in shares of AMETEK by 6,587.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,702,384 shares of the technology company’s stock valued at $25,000 after purchasing an additional 1,676,926 shares during the period. IFP Advisors Inc raised its position in AMETEK by 76.4% in the fourth quarter. IFP Advisors Inc now owns 441 shares of the technology company’s stock worth $29,000 after acquiring an additional 191 shares during the period. Laurel Wealth Advisors LLC purchased a new position in AMETEK during the fourth quarter valued at $32,000. SRS Capital Advisors Inc. grew its holdings in AMETEK by 183.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 749 shares of the technology company’s stock valued at $51,000 after purchasing an additional 485 shares during the period. Finally, Financial Gravity Companies Inc. purchased a new stake in AMETEK in the fourth quarter worth about $65,000. Institutional investors and hedge funds own 85.88% 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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Analyst Recommendations for AMETEK (NYSE:AME)

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