AMETEK, Inc. (NYSE:AME) had its price objective upped by Morgan Stanley from $57.00 to $62.00 in a research report sent to investors on Monday, May 8th. The brokerage currently has an equal weight rating on the technology company’s stock.
AME has been the topic of several other reports. Royal Bank of Canada lifted their target price on AMETEK from $57.00 to $60.00 and gave the company an outperform rating in a research report on Wednesday, February 8th. Zacks Investment Research downgraded AMETEK from a hold rating to a sell rating in a research report on Tuesday, April 11th. Atlantic Securities upgraded AMETEK from a neutral rating to an overweight rating and boosted their price objective for the company from $48.00 to $62.00 in a research report on Wednesday, February 15th. BMO Capital Markets restated a buy rating and issued a $65.00 price objective on shares of AMETEK in a research report on Monday, March 27th. Finally, Jefferies Group LLC restated a buy rating and issued a $66.00 price objective (up from $63.00) on shares of AMETEK in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $59.50.
AMETEK (NYSE:AME) traded up 1.56% during mid-day trading on Monday, reaching $60.06. The company had a trading volume of 1,455,643 shares. The firm has a market capitalization of $13.82 billion, a P/E ratio of 27.07 and a beta of 1.11. The firm’s 50-day moving average is $56.71 and its 200-day moving average is $52.25. AMETEK has a one year low of $43.28 and a one year high of $60.69.
AMETEK (NYSE:AME) last released its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.57 by $0.03. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $961.36 million. AMETEK had a return on equity of 16.19% and a net margin of 13.34%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.57 EPS. On average, equities research analysts anticipate that AMETEK will post $2.47 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.61%. AMETEK’s payout ratio is 16.44%.
In related news, Director Anthony James Conti sold 4,756 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $60.42, for a total value of $287,357.52. Following the completion of the sale, the director now owns 15,124 shares in the company, valued at $913,792.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP William Joseph Burke sold 14,483 shares of the business’s stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $55.26, for a total value of $800,330.58. Following the completion of the sale, the vice president now owns 70,645 shares of the company’s stock, valued at approximately $3,903,842.70. The disclosure for this sale can be found here. Insiders sold 64,751 shares of company stock valued at $3,725,073 in the last quarter. 2.00% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of AME. Vanguard Group Inc. raised its stake in AMETEK by 2.3% in the first quarter. Vanguard Group Inc. now owns 21,889,853 shares of the technology company’s stock worth $1,183,804,000 after buying an additional 484,592 shares in the last quarter. FMR LLC raised its stake in AMETEK by 3.4% in the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock worth $1,172,925,000 after buying an additional 717,489 shares in the last quarter. BlackRock Inc. raised its stake in AMETEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock worth $747,572,000 after buying an additional 13,392,716 shares in the last quarter. Wellington Management Group LLP raised its stake in AMETEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock worth $569,372,000 after buying an additional 868,895 shares in the last quarter. Finally, State Street Corp raised its stake in AMETEK by 5.3% in the fourth quarter. State Street Corp now owns 9,571,155 shares of the technology company’s stock worth $465,162,000 after buying an additional 479,261 shares in the last quarter. Institutional investors own 89.39% of the company’s stock.
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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