AMETEK (NYSE:AME) Rating Increased to Outperform at Oppenheimer

Oppenheimer upgraded shares of AMETEK (NYSE:AME) from a market perform rating to an outperform rating in a report issued on Wednesday, Marketbeat.com reports. The brokerage currently has $200.00 target price on the technology company’s stock.

Several other analysts have also recently issued reports on AME. Royal Bank of Canada cut their price objective on AMETEK from $192.00 to $188.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. StockNews.com upgraded AMETEK from a hold rating to a buy rating in a research note on Monday, May 13th. Robert W. Baird lowered their target price on shares of AMETEK from $173.00 to $171.00 and set a neutral rating for the company in a research note on Monday, May 6th. KeyCorp raised their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an overweight rating in a research report on Tuesday, February 27th. Finally, Truist Financial started coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a buy rating and a $210.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $181.64.

AMETEK Stock Performance

Shares of AME opened at $173.66 on Wednesday. The firm has a market cap of $40.20 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.77 and a beta of 1.21. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The business’s 50 day moving average is $176.46 and its two-hundred day moving average is $169.09. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 earnings per share. Analysts forecast that AMETEK will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.64%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling

In other AMETEK news, CFO William Joseph Burke sold 27,400 shares of AMETEK 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 sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AMETEK news, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the transaction, the chief financial officer now 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 can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was 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 of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. Insiders sold 37,941 shares of company stock valued at $6,992,804 in the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of AMETEK

Hedge funds and other institutional investors have recently modified their holdings of the company. Cetera Advisors LLC raised its position in AMETEK by 15.6% in the first quarter. Cetera Advisors LLC now owns 13,374 shares of the technology company’s stock worth $2,446,000 after acquiring an additional 1,800 shares in the last quarter. Cetera Investment Advisers raised its holdings in shares of AMETEK by 573.2% in the 1st quarter. Cetera Investment Advisers now owns 59,754 shares of the technology company’s stock worth $10,929,000 after purchasing an additional 50,878 shares in the last quarter. Atria Investments Inc lifted its stake in AMETEK by 33.7% during the first quarter. Atria Investments Inc now owns 10,020 shares of the technology company’s stock valued at $1,833,000 after purchasing an additional 2,527 shares during the last quarter. Swedbank AB bought a new stake in AMETEK during the first quarter worth approximately $3,833,000. Finally, Virtu Financial LLC grew its position in AMETEK by 859.7% in the first quarter. Virtu Financial LLC now owns 18,176 shares of the technology company’s stock worth $3,324,000 after buying an additional 16,282 shares during 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.