TD Cowen Trims AMETEK (NYSE:AME) Target Price to $158.00

AMETEK (NYSE:AME) had its price target trimmed by TD Cowen from $165.00 to $158.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other equities analysts have also weighed in on the stock. Royal Bank of Canada cut their price objective on shares of AMETEK from $216.00 to $215.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Truist Financial cut their price objective on shares of AMETEK from $204.00 to $201.00 and set a buy rating for the company in a research report on Friday, August 2nd. Oppenheimer raised shares of AMETEK from a market perform rating to an outperform rating and set a $200.00 price target for the company in a research report on Wednesday, May 22nd. Robert W. Baird dropped their price target on shares of AMETEK from $173.00 to $171.00 and set a neutral rating for the company in a research report on Monday, May 6th. Finally, StockNews.com raised shares of AMETEK from a hold rating to a buy rating in a research report on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $186.29.

AMETEK Stock Up 1.3 %

Shares of NYSE AME opened at $158.83 on Monday. AMETEK has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a market capitalization of $36.76 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66. The firm’s 50-day moving average is $167.90 and its two-hundred day moving average is $172.36.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.57 earnings per share. Equities analysts anticipate that AMETEK will post 6.78 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.71%. AMETEK’s dividend payout ratio is currently 19.68%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the completion of the transaction, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank bought a new position in AMETEK during the 4th quarter valued at $589,098,000. JPMorgan Chase & Co. boosted its stake in AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after acquiring an additional 926,657 shares during the last quarter. Principal Financial Group Inc. boosted its stake in AMETEK by 256.3% during the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after acquiring an additional 702,674 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich boosted its stake in AMETEK by 4,845.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after acquiring an additional 663,385 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.