AMETEK (NYSE:AME) Downgraded to Hold Rating by Melius

Melius downgraded shares of AMETEK (NYSE:AME) from a buy rating to a hold rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $192.00 price target on the technology company’s stock.

Several other equities analysts have also recently commented on the company. Mizuho set a $212.00 target price on AMETEK in a research note on Friday, May 16th. Royal Bank Of Canada increased their target price on AMETEK from $194.00 to $201.00 and gave the company an “outperform” rating in a research note on Friday, May 2nd. Wall Street Zen upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Robert W. Baird reduced their target price on AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial increased their target price on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $197.30.

AMETEK Price Performance

Shares of NYSE AME opened at $178.20 on Monday. The firm has a market capitalization of $41.14 billion, a P/E ratio of 29.17, a PEG ratio of 2.71 and a beta of 1.09. AMETEK has a one year low of $145.02 and a one year high of $198.33. The company’s fifty day moving average is $178.82 and its two-hundred day moving average is $176.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.86 and a current ratio of 1.41.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. Analysts forecast that AMETEK will post 7.15 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.31 dividend. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.70%. AMETEK’s payout ratio is 20.29%.

Institutional Investors Weigh In On AMETEK

Several large investors have recently made changes to their positions in AME. DAVENPORT & Co LLC boosted its position in AMETEK by 0.8% during the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company’s stock worth $1,226,000 after purchasing an additional 60 shares during the period. Sowell Financial Services LLC bought a new stake in AMETEK during the first quarter worth approximately $293,000. Wealth Enhancement Advisory Services LLC boosted its position in AMETEK by 10.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company’s stock worth $19,829,000 after purchasing an additional 10,685 shares during the period. National Bank of Canada FI boosted its position in AMETEK by 17.4% during the fourth quarter. National Bank of Canada FI now owns 142,093 shares of the technology company’s stock worth $25,616,000 after purchasing an additional 21,009 shares during the period. Finally, Fenimore Asset Management Inc boosted its position in AMETEK by 1.6% during the first quarter. Fenimore Asset Management Inc now owns 277,371 shares of the technology company’s stock worth $47,747,000 after purchasing an additional 4,502 shares during the period. Institutional investors own 87.43% of the company’s stock.

About AMETEK

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.