AMETEK (NYSE:AME) Price Target Raised to $270.00

AMETEK (NYSE:AME – Free Report) had its target price hoisted by Citigroup from $263.00 to $270.00 in a report issued on Wednesday morning,Benzinga reports. Citigroup currently has a neutral rating on the technology company’s stock.

Other research analysts have also issued reports about the company. DA Davidson set a $285.00 price objective on AMETEK in a research report on Wednesday, October 7th. Vertical Research began coverage on AMETEK in a research report on Tuesday, September 8th. They set a “buy” rating and a $255.00 target price on the stock. TD Cowen reaffirmed a “buy” rating on shares of AMETEK in a research note on Thursday, August 6th. KeyCorp lifted their target price on AMETEK from $260.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, Mizuho dropped their price target on AMETEK from $285.00 to $275.00 and set an “outperform” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $278.06.

View Our Latest Research Report on AMETEK

AMETEK Trading Up 2.4%

Shares of AME traded up $5.41 during trading hours on Wednesday, hitting $228.40. 1,737,921 shares of the stock were exchanged, compared to its average volume of 1,376,260. AMETEK has a fifty-two week low of $188.47 and a fifty-two week high of $261.16. The business has a 50-day moving average of $242.89 and a 200-day moving average of $234.62. The firm has a market capitalization of $52.35 billion, a P/E ratio of 32.21, a price-to-earnings-growth ratio of 2.29 and a beta of 0.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.76.

AMETEK (NYSE:AME – Get Free Report) last released its earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.11 by $0.10. The business had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.12 billion. AMETEK had a net margin of 20.04% and a return on equity of 16.93%. AMETEK’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. On average, research analysts expect that AMETEK will post 8.59 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.34 per share. The ex-dividend date is Friday, December 4th. This represents a $1.36 annualized dividend and a dividend yield of 0.6%. AMETEK’s dividend payout ratio is currently 19.18%.

Institutional Trading of AMETEK

Several large investors have recently made changes to their positions in AME. BlackRock Inc. acquired a new stake in AMETEK in the second quarter valued at approximately $4,725,928,000. Wellington Management Group LLP increased its holdings in shares of AMETEK by 7.0% during the second quarter. Wellington Management Group LLP now owns 2,994,077 shares of the technology company’s stock valued at $724,387,000 after acquiring an additional 196,986 shares in the last quarter. Flossbach Von Storch SE acquired a new position in shares of AMETEK during the second quarter worth approximately $662,352,000. Bank of New York Mellon Corp acquired a new position in shares of AMETEK during the second quarter worth approximately $624,725,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of AMETEK by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,075,229 shares of the technology company’s stock worth $444,788,000 after purchasing an additional 29,001 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting AMETEK

Here are the key news stories impacting AMETEK this week:

About AMETEK

(Get Free Report)

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation.

The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical.

Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.

Further Reading

Analyst Recommendations for AMETEK (NYSE:AME)

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