AMETEK (NYSE:AME) had its target price raised by Morgan Stanley from $67.00 to $76.00 in a report released on Wednesday morning. They currently have an overweight rating on the technology company’s stock.
Several other brokerages have also recently weighed in on AME. Royal Bank of Canada reaffirmed a buy rating and issued a $70.00 price objective on shares of AMETEK in a report on Friday, October 13th. BMO Capital Markets lifted their price objective on AMETEK from $88.00 to $90.00 and gave the company an outperform rating in a report on Friday, February 2nd. Zacks Investment Research raised AMETEK from a hold rating to a buy rating and set a $87.00 price objective for the company in a report on Monday. Wells Fargo & Co set a $88.00 price objective on AMETEK and gave the company a buy rating in a report on Thursday, January 18th. Finally, Oppenheimer lifted their price target on AMETEK to $75.00 and gave the company an outperform rating in a research note on Friday, November 3rd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. AMETEK currently has a consensus rating of Buy and an average target price of $80.00.
AMETEK (AME) opened at $74.16 on Wednesday. The firm has a market capitalization of $17,266.77, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 2.15 and a beta of 1.32. The company has a quick ratio of 1.22, a current ratio of 1.70 and a debt-to-equity ratio of 0.46. AMETEK has a fifty-two week low of $51.31 and a fifty-two week high of $78.51.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Friday, March 16th will be paid a $0.14 dividend. This is a positive change from AMETEK’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, March 15th. This represents a $0.56 annualized dividend and a dividend yield of 0.76%. AMETEK’s dividend payout ratio (DPR) is presently 12.24%.
In related news, insider David A. Zapico sold 25,965 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $71.77, for a total transaction of $1,863,508.05. Following the sale, the insider now owns 200,548 shares in the company, valued at approximately $14,393,329.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas M. Montgomery sold 1,800 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $70.35, for a total value of $126,630.00. Following the sale, the vice president now owns 19,947 shares in the company, valued at approximately $1,403,271.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,478 shares of company stock worth $3,939,918. Corporate insiders own 2.10% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. New Mexico Educational Retirement Board grew its position in AMETEK by 3.7% during the 4th quarter. New Mexico Educational Retirement Board now owns 22,200 shares of the technology company’s stock worth $1,609,000 after acquiring an additional 800 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in AMETEK by 15.6% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 49,192 shares of the technology company’s stock worth $3,565,000 after acquiring an additional 6,644 shares during the last quarter. LS Investment Advisors LLC grew its position in AMETEK by 83.6% during the 4th quarter. LS Investment Advisors LLC now owns 25,028 shares of the technology company’s stock worth $1,814,000 after acquiring an additional 11,393 shares during the last quarter. KBC Group NV grew its position in AMETEK by 0.9% during the 4th quarter. KBC Group NV now owns 224,584 shares of the technology company’s stock worth $16,275,000 after acquiring an additional 2,077 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its position in AMETEK by 33.5% during the 4th quarter. Daiwa Securities Group Inc. now owns 167,705 shares of the technology company’s stock worth $12,153,000 after acquiring an additional 42,129 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.
AMETEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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