AMETEK (NYSE:AME) Price Target Lowered to $215.00 at Royal Bank of Canada

AMETEK (NYSE:AME) had its target price reduced by Royal Bank of Canada from $216.00 to $215.00 in a research note released on Friday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

AME has been the topic of a number of other reports. StockNews.com upgraded shares of AMETEK from a hold rating to a buy rating in a research report on Monday, July 29th. Truist Financial dropped their target price on shares of AMETEK from $204.00 to $201.00 and set a buy rating for the company in a research note on Friday. Robert W. Baird dropped their target price on shares of AMETEK from $173.00 to $171.00 and set a neutral rating for the company in a research note on Monday, May 6th. Finally, Oppenheimer raised shares of AMETEK from a market perform rating to an outperform rating and set a $200.00 target price for the company in a research note on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $187.29.

AMETEK Price Performance

NYSE:AME opened at $152.74 on Friday. The firm has a market cap of $35.35 billion, a PE ratio of 26.84, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $168.88 and its two-hundred day moving average price is $172.50.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.57 earnings per share. On average, equities analysts anticipate that AMETEK will post 6.78 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now directly owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMETEK

Several large investors have recently bought and sold shares of AME. Arizona State Retirement System increased its stake in AMETEK by 0.8% in the fourth quarter. Arizona State Retirement System now owns 63,409 shares of the technology company’s stock valued at $10,456,000 after purchasing an additional 531 shares in the last quarter. Boston Trust Walden Corp increased its stake in AMETEK by 0.4% in the fourth quarter. Boston Trust Walden Corp now owns 68,235 shares of the technology company’s stock valued at $11,251,000 after purchasing an additional 275 shares in the last quarter. International Assets Investment Management LLC bought a new stake in AMETEK in the fourth quarter valued at approximately $205,270,000. Fulton Bank N.A. increased its stake in AMETEK by 10.8% in the fourth quarter. Fulton Bank N.A. now owns 1,863 shares of the technology company’s stock valued at $307,000 after purchasing an additional 181 shares in the last quarter. Finally, Stratos Wealth Partners LTD. increased its stake in AMETEK by 20.0% in the fourth quarter. Stratos Wealth Partners LTD. now owns 3,890 shares of the technology company’s stock valued at $642,000 after purchasing an additional 649 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Company Profile

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.