Shares of AMETEK, Inc. (NYSE:AME – Get Rating) have earned a consensus rating of "Moderate Buy" from the ten research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $146.63.
A number of research firms have recently weighed in on AME. Royal Bank of Canada restated an "outperform" rating on shares of AMETEK in a report on Wednesday, August 3rd. StockNews.com upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a report on Friday, September 16th. Morgan Stanley raised their price target on shares of AMETEK from $135.00 to $145.00 and gave the company an "overweight" rating in a report on Wednesday, August 3rd. Loop Capital lowered their price target on shares of AMETEK from $170.00 to $155.00 and set a "buy" rating on the stock in a report on Tuesday, July 19th. Finally, DA Davidson lifted their target price on shares of AMETEK to $160.00 in a research note on Tuesday, August 9th.
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Insiders Place Their Bets
In other AMETEK news, Director Steven W. Kohlhagen sold 3,100 shares of the firm's stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the completion of the transaction, the director now directly owns 42,864 shares of the company's stock, valued at approximately $5,304,420. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Steven W. Kohlhagen sold 3,000 shares of AMETEK stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total transaction of $380,430.00. Following the completion of the transaction, the director now directly owns 45,964 shares of the company's stock, valued at approximately $5,828,694.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 3,100 shares of AMETEK stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the transaction, the director now directly owns 42,864 shares of the company's stock, valued at $5,304,420. The disclosure for this sale can be found here. 0.72% of the stock is currently owned by insiders.
Hedge Funds Weigh In On AMETEK
Several institutional investors have recently made changes to their positions in AME. ETF Managers Group LLC purchased a new position in shares of AMETEK during the 4th quarter valued at approximately $410,000. LPL Financial LLC grew its stake in AMETEK by 15.8% in the 4th quarter. LPL Financial LLC now owns 51,282 shares of the technology company's stock valued at $7,541,000 after acquiring an additional 6,993 shares during the period. Guggenheim Capital LLC grew its stake in AMETEK by 28.7% in the 4th quarter. Guggenheim Capital LLC now owns 59,896 shares of the technology company's stock valued at $8,808,000 after acquiring an additional 13,357 shares during the period. PDT Partners LLC acquired a new stake in AMETEK in the 4th quarter valued at $775,000. Finally, Wetherby Asset Management Inc. grew its stake in AMETEK by 3.0% in the 4th quarter. Wetherby Asset Management Inc. now owns 8,079 shares of the technology company's stock valued at $1,188,000 after acquiring an additional 239 shares during the period. 85.46% of the stock is owned by hedge funds and other institutional investors.
AMETEK Stock Up 2.3 %
Shares of AMETEK stock opened at $114.36 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.48 and a quick ratio of 0.88. AMETEK has a 1 year low of $106.17 and a 1 year high of $148.07. The firm's 50-day moving average is $122.26 and its two-hundred day moving average is $121.96. The stock has a market cap of $26.25 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.21 and a beta of 1.26.
AMETEK (NYSE:AME – Get Rating) last issued its earnings results on Tuesday, August 2nd. The technology company reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.09. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The company had revenue of $1.51 billion for the quarter, compared to analysts' expectations of $1.46 billion. During the same period in the prior year, the business earned $1.15 EPS. The firm's quarterly revenue was up 9.2% on a year-over-year basis. As a group, research analysts expect that AMETEK will post 5.52 earnings per share for the current fiscal year.
AMETEK Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Tuesday, September 13th. AMETEK's dividend payout ratio is presently 18.72%.
About AMETEK
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AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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