AMETEK, Inc. (NYSE:AME) Stock Has Consensus Price Target of $278.06

Shares of AMETEK, Inc. (NYSE:AME) have been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $278.06.

A number of brokerages recently commented on AME. Citigroup raised their target price on AMETEK from $263.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 4th. DA Davidson set a $285.00 price target on AMETEK in a research report on Wednesday, October 7th. Vertical Research assumed coverage on AMETEK in a research note on Tuesday, September 8th. They issued a “buy” rating and a $255.00 price objective on the stock. Weiss Ratings cut AMETEK from a “buy (b+)” rating to a “buy (b)” rating in a research report on Monday, November 2nd. Finally, Mizuho cut their price objective on AMETEK from $285.00 to $275.00 and set an “outperform” rating for the company in a research note on Wednesday, November 4th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. BlackRock Inc. purchased a new stake in shares of AMETEK during the second quarter worth about $4,725,928,000. Wellington Management Group LLP lifted its holdings in AMETEK by 7.0% in the 2nd quarter. Wellington Management Group LLP now owns 2,994,077 shares of the technology company’s stock worth $724,387,000 after purchasing an additional 196,986 shares in the last quarter. Flossbach Von Storch SE purchased a new position in AMETEK in the 2nd quarter worth approximately $662,352,000. Bank of New York Mellon Corp bought a new position in AMETEK in the 2nd quarter worth approximately $624,725,000. Finally, Dimensional Fund Advisors LP boosted its stake in AMETEK by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,075,229 shares of the technology company’s stock worth $444,788,000 after purchasing an additional 29,001 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 0.6%

Shares of AMETEK stock opened at $239.66 on Friday. The stock has a market capitalization of $54.96 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.13 and a beta of 0.96. The company has a 50-day simple moving average of $243.17 and a two-hundred day simple moving average of $234.88. AMETEK has a 52-week low of $188.47 and a 52-week high of $261.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.91 and a current ratio of 1.43.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. The firm had revenue of $2.22 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the previous year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, analysts anticipate that AMETEK will post 8.58 EPS for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. AMETEK’s dividend payout ratio is 19.18%.

AMETEK Company Profile

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.