AMETEK (NYSE:AME) had its target price raised by KeyCorp from $94.00 to $100.00 in a research report released on Wednesday morning, The Fly reports. KeyCorp also issued estimates for AMETEK’s Q3 2019 earnings at $1.02 EPS, FY2019 earnings at $4.10 EPS, Q1 2020 earnings at $1.04 EPS and Q3 2020 earnings at $1.07 EPS.
AME has been the topic of several other research reports. Morgan Stanley upped their price objective on shares of AMETEK from $95.00 to $97.00 and gave the company an overweight rating in a report on Wednesday. Zacks Investment Research upgraded shares of AMETEK from a hold rating to a buy rating and set a $90.00 price objective on the stock in a report on Thursday, June 13th. Berenberg Bank assumed coverage on shares of AMETEK in a report on Wednesday, May 15th. They set a buy rating and a $100.00 price objective on the stock. ValuEngine upgraded shares of AMETEK from a hold rating to a buy rating in a report on Wednesday, May 1st. Finally, Vertical Research reiterated a buy rating on shares of AMETEK in a report on Friday, May 3rd. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $94.36.
Shares of NYSE AME traded down $1.82 during trading on Wednesday, hitting $86.50. 1,662,847 shares of the company traded hands, compared to its average volume of 1,293,026. The firm has a fifty day moving average of $89.13. AMETEK has a fifty-two week low of $63.14 and a fifty-two week high of $92.30. The firm has a market cap of $20.12 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.28 and a beta of 1.22. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.17 and a quick ratio of 1.27.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.65%. AMETEK’s payout ratio is presently 17.02%.
In other news, Director Thomas A. Amato sold 1,790 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $83.57, for a total transaction of $149,590.30. Following the completion of the sale, the director now directly owns 9,370 shares of the company’s stock, valued at $783,050.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas M. Montgomery sold 5,602 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $88.50, for a total transaction of $495,777.00. Following the sale, the vice president now directly owns 26,419 shares of the company’s stock, valued at $2,338,081.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 91,800 shares of company stock valued at $7,936,112. 0.80% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of AME. Norges Bank bought a new stake in shares of AMETEK during the fourth quarter worth about $134,370,000. JPMorgan Chase & Co. increased its position in shares of AMETEK by 24.8% during the first quarter. JPMorgan Chase & Co. now owns 4,147,050 shares of the technology company’s stock worth $344,081,000 after acquiring an additional 823,704 shares in the last quarter. Argent Capital Management LLC bought a new stake in shares of AMETEK during the first quarter worth about $49,936,000. Marshall Wace North America L.P. increased its position in shares of AMETEK by 332.0% during the first quarter. Marshall Wace North America L.P. now owns 437,986 shares of the technology company’s stock worth $36,340,000 after acquiring an additional 336,593 shares in the last quarter. Finally, Pictet Asset Management Ltd. grew its position in AMETEK by 271.9% in the 1st quarter. Pictet Asset Management Ltd. now owns 448,710 shares of the technology company’s stock worth $37,229,000 after purchasing an additional 328,065 shares in the last quarter. 85.82% of the stock is owned by institutional investors.
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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