AMETEK (NYSE:AME) PT Raised to $186.00 at Royal Bank of Canada

AMETEK (NYSE:AME) had its price objective upped by Royal Bank of Canada from $183.00 to $186.00 in a report published on Wednesday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

A number of other brokerages also recently issued reports on AME. KeyCorp lifted their price target on shares of AMETEK from $165.00 to $176.00 and gave the stock an overweight rating in a research note on Wednesday, August 2nd. Wells Fargo & Company boosted their target price on shares of AMETEK from $180.00 to $185.00 and gave the stock an overweight rating in a research note on Wednesday, August 2nd. StockNews.com began coverage on AMETEK in a research note on Thursday, October 5th. They issued a buy rating on the stock. BNP Paribas initiated coverage on AMETEK in a report on Thursday, October 5th. They issued a neutral rating and a $159.00 price objective on the stock. Finally, Mizuho raised their target price on AMETEK from $161.00 to $166.00 and gave the stock a buy rating in a research report on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $173.75.

AMETEK Stock Performance

Shares of AMETEK stock opened at $143.70 on Wednesday. The stock has a market capitalization of $33.17 billion, a price-to-earnings ratio of 26.03, a price-to-earnings-growth ratio of 2.46 and a beta of 1.19. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.86 and a quick ratio of 1.34. The business has a 50-day moving average of $149.84 and a 200 day moving average of $151.32. AMETEK has a 12 month low of $131.52 and a 12 month high of $164.75.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, October 31st. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.58 by $0.06. The company had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.66 billion. AMETEK had a net margin of 19.68% and a return on equity of 18.19%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.45 EPS. As a group, sell-side analysts forecast that AMETEK will post 6.33 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 22nd. Shareholders of record on Friday, December 8th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.70%. AMETEK’s dividend payout ratio (DPR) is currently 18.12%.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,565 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $160.37, for a total transaction of $250,979.05. Following the completion of the transaction, the director now owns 31,909 shares in the company, valued at approximately $5,117,246.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Steven W. Kohlhagen sold 1,645 shares of AMETEK stock in a transaction that occurred on Thursday, September 14th. The stock was sold at an average price of $152.74, for a total value of $251,257.30. Following the sale, the director now directly owns 30,264 shares in the company, valued at $4,622,523.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,565 shares of the stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $160.37, for a total value of $250,979.05. Following the completion of the transaction, the director now owns 31,909 shares of the company’s stock, valued at approximately $5,117,246.33. The disclosure for this sale can be found here. Insiders have sold a total of 37,140 shares of company stock worth $5,940,876 in the last three months. Insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several institutional investors have recently made changes to their positions in AME. Covestor Ltd boosted its holdings in AMETEK by 84.3% during the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after buying an additional 97 shares in the last quarter. Resurgent Financial Advisors LLC purchased a new stake in shares of AMETEK during the 4th quarter worth approximately $28,000. TFC Financial Management Inc. acquired a new stake in shares of AMETEK in the 1st quarter worth approximately $33,000. Fiduciary Alliance LLC purchased a new position in AMETEK in the 2nd quarter valued at approximately $34,000. Finally, Quarry LP acquired a new position in AMETEK during the first quarter worth $35,000. 85.70% of the stock is currently owned by hedge funds and other institutional investors.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.