AMETEK (NYSE:AME) Price Target Raised to $198.00

AMETEK (NYSE:AME) had its price target upped by Morgan Stanley from $185.00 to $198.00 in a research note published on Friday,Benzinga reports. They currently have an equal weight rating on the technology company’s stock.

Other equities analysts have also issued reports about the company. KeyCorp boosted their price target on AMETEK from $195.00 to $205.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Melius Research raised AMETEK to a “hold” rating in a research note on Monday, July 14th. Wall Street Zen raised AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, May 12th. Mizuho boosted their price target on AMETEK from $212.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Robert W. Baird boosted their price target on AMETEK from $190.00 to $198.00 and gave the company a “neutral” rating in a research note on Monday, August 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $208.00.

AMETEK Price Performance

AMETEK stock opened at $181.94 on Friday. AMETEK has a one year low of $145.02 and a one year high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.63 and a quick ratio of 1.04. The stock’s 50 day moving average is $179.90 and its 200 day moving average is $176.91. The firm has a market cap of $42.02 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.63 and a beta of 1.10.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.09. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the firm earned $1.66 earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. As a group, research analysts expect that AMETEK will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK’s dividend payout ratio (DPR) is currently 19.97%.

Institutional Investors Weigh In On AMETEK

Several institutional investors have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI bought a new stake in AMETEK during the second quarter worth $406,000. Cetera Investment Advisers grew its holdings in AMETEK by 0.3% during the second quarter. Cetera Investment Advisers now owns 42,590 shares of the technology company’s stock worth $7,707,000 after buying an additional 107 shares in the last quarter. Creative Planning grew its holdings in AMETEK by 20.0% during the second quarter. Creative Planning now owns 35,022 shares of the technology company’s stock worth $6,338,000 after buying an additional 5,826 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in AMETEK by 7.0% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 56,624 shares of the technology company’s stock worth $10,247,000 after buying an additional 3,727 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in AMETEK by 4.3% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 34,877 shares of the technology company’s stock worth $6,311,000 after buying an additional 1,430 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

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.