AMETEK (NYSE:AME) Price Target Lowered to $171.00 at Robert W. Baird

AMETEK (NYSE:AME) had its price target reduced by stock analysts at Robert W. Baird from $173.00 to $171.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 2.67% from the company’s previous close.

Several other analysts have also recently commented on the company. Truist Financial assumed coverage on AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price on the stock. KeyCorp raised their target price on AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Royal Bank of Canada lowered their target price on AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 7th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $179.80.

AMETEK Stock Up 2.0 %

Shares of AMETEK stock opened at $166.56 on Monday. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. The business’s 50 day simple moving average is $179.64 and its 200-day simple moving average is $166.32. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.66 and a beta of 1.21. AMETEK has a twelve month low of $136.89 and a twelve month high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.49 EPS. Equities research analysts forecast that AMETEK will post 6.81 earnings per share for the current year.

Insider Transactions at AMETEK

In other news, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the completion of the sale, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total value of $5,070,370.00. Following the completion of the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the sale, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AMETEK

A number of institutional investors have recently modified their holdings of AME. Commonwealth Equity Services LLC boosted its stake in shares of AMETEK by 1.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 15,965 shares of the technology company’s stock valued at $2,359,000 after buying an additional 257 shares during the period. Raymond James & Associates grew its position in AMETEK by 6.4% in the third quarter. Raymond James & Associates now owns 168,898 shares of the technology company’s stock worth $24,956,000 after acquiring an additional 10,173 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in shares of AMETEK by 60.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,241 shares of the technology company’s stock worth $479,000 after purchasing an additional 1,216 shares during the last quarter. Lindbrook Capital LLC raised its holdings in shares of AMETEK by 84.3% during the 3rd quarter. Lindbrook Capital LLC now owns 435 shares of the technology company’s stock valued at $64,000 after purchasing an additional 199 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of AMETEK by 5.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,650 shares of the technology company’s stock valued at $9,848,000 after purchasing an additional 3,443 shares during the last quarter. Institutional investors and hedge funds 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.