AMETEK (NYSE:AME) Upgraded at Melius Research

Melius Research upgraded shares of AMETEK (NYSE:AME) to a hold rating in a research note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Royal Bank Of Canada raised their price objective on AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research note on Friday, May 2nd. Mizuho set a $212.00 price target on AMETEK in a report on Friday, May 16th. Morgan Stanley initiated coverage on AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target on the stock. Melius downgraded AMETEK from a “buy” rating to a “hold” rating and set a $192.00 price target on the stock. in a report on Monday. Finally, Truist Financial lifted their price target on AMETEK from $196.00 to $200.00 and gave the company a “buy” rating in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.30.

AMETEK Stock Up 0.3%

AME opened at $177.01 on Monday. AMETEK has a 12 month low of $145.02 and a 12 month high of $198.33. The stock has a market cap of $40.87 billion, a P/E ratio of 28.97, a P/E/G ratio of 2.64 and a beta of 1.09. The stock’s 50 day moving average price is $179.13 and its 200 day moving average price is $176.92. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.06. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The company had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the firm earned $1.64 EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. As a group, research analysts predict that AMETEK will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

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

Hedge Funds Weigh In On AMETEK

Several institutional investors and hedge funds have recently added to or reduced their stakes in AME. DAVENPORT & Co LLC raised its position in shares of AMETEK by 0.8% in the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company’s stock valued at $1,226,000 after buying an additional 60 shares during the last quarter. Alps Advisors Inc. increased its position in AMETEK by 1.0% during the first quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 60 shares during the last quarter. EWA LLC increased its position in AMETEK by 4.9% during the first quarter. EWA LLC now owns 1,382 shares of the technology company’s stock worth $238,000 after purchasing an additional 65 shares during the last quarter. Buckhead Capital Management LLC increased its position in AMETEK by 0.3% during the first quarter. Buckhead Capital Management LLC now owns 22,830 shares of the technology company’s stock worth $3,930,000 after purchasing an additional 65 shares during the last quarter. Finally, Signaturefd LLC increased its position in AMETEK by 1.5% during the first quarter. Signaturefd LLC now owns 4,625 shares of the technology company’s stock worth $796,000 after purchasing an additional 67 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

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.