Robert W. Baird Trims AMETEK (NYSE:AME) Target Price to $171.00

AMETEK (NYSE:AME) had its price target decreased by research analysts at Robert W. Baird from $173.00 to $171.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective suggests a potential upside of 0.84% from the stock’s previous close.

A number of other analysts also recently commented on AME. StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. KeyCorp boosted their target price on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Truist Financial started coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 target price on the stock. Finally, Royal Bank of Canada reduced their price objective on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

AMETEK Trading Up 0.9 %

Shares of AME stock opened at $169.58 on Monday. The business’s fifty day moving average price is $179.26 and its 200 day moving average price is $166.69. AMETEK has a 1-year low of $136.89 and a 1-year high of $186.32. The firm has a market capitalization of $39.25 billion, a PE ratio of 29.80, a P/E/G ratio of 2.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company posted $1.49 earnings per share. AMETEK’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that AMETEK will post 6.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Steven W. Kohlhagen sold 1,400 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total transaction of $252,826.00. Following the completion of the sale, the director now owns 28,054 shares of the company’s stock, valued at approximately $5,066,271.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO William Joseph Burke sold 17,437 shares of the firm’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,138,983.59. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the sale, the director now owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock worth $10,689,758 over the last three months. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On AMETEK

A number of institutional investors have recently made changes to their positions in the business. McGlone Suttner Wealth Management Inc. bought a new position in AMETEK during the 4th quarter valued at $25,000. Wetzel Investment Advisors Inc. bought a new stake in AMETEK in the fourth quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK during the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK during the 4th quarter worth approximately $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of AMETEK in the 4th quarter worth approximately $31,000. 87.43% of the stock is owned by institutional investors and hedge funds.

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.