Wells Fargo & Co set a $88.00 target price on AMETEK (NYSE:AME) in a research report report published on Thursday, January 18th. The firm currently has a buy rating on the technology company’s stock.
A number of other equities research analysts also recently weighed in on AME. Zacks Investment Research raised shares of AMETEK from a hold rating to a buy rating and set a $74.00 price target for the company in a report on Thursday, September 21st. Stifel Nicolaus set a $70.00 price target on shares of AMETEK and gave the company a buy rating in a report on Friday, October 6th. Robert W. Baird reissued a buy rating and issued a $70.00 price target on shares of AMETEK in a report on Friday, October 6th. Royal Bank of Canada reissued a buy rating and issued a $70.00 price target on shares of AMETEK in a report on Friday, October 13th. Finally, Jefferies Group upped their price objective on shares of AMETEK from $66.00 to $77.00 and gave the company a buy rating in a research note on Friday, October 13th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of Buy and an average target price of $80.00.
Shares of AMETEK (NYSE AME) traded up $1.70 on Thursday, reaching $74.00. 1,739,764 shares of the company were exchanged, compared to its average volume of 1,300,000. AMETEK has a 12-month low of $52.42 and a 12-month high of $78.51. The company has a quick ratio of 1.22, a current ratio of 1.70 and a debt-to-equity ratio of 0.46. The company has a market cap of $17,100.00, a price-to-earnings ratio of 25.17, a PEG ratio of 2.07 and a beta of 1.31.
AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, February 1st. The technology company reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.03. AMETEK had a net margin of 15.85% and a return on equity of 16.39%. The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the company earned $0.58 EPS. AMETEK’s revenue was up 17.5% on a year-over-year basis. research analysts anticipate that AMETEK will post 3.04 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Shareholders of record on Friday, March 16th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from AMETEK’s previous quarterly dividend of $0.09. This represents a $0.56 dividend on an annualized basis and a yield of 0.76%. AMETEK’s dividend payout ratio is currently 12.24%.
In other news, insider David A. Zapico sold 25,965 shares of the company’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $71.77, for a total value of $1,863,508.05. Following the transaction, the insider now owns 200,548 shares in the company, valued at approximately $14,393,329.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William D. Eginton sold 16,368 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $77.00, for a total value of $1,260,336.00. Following the completion of the transaction, the vice president now owns 59,054 shares in the company, valued at approximately $4,547,158. The disclosure for this sale can be found here. Insiders have sold 53,478 shares of company stock valued at $3,939,918 over the last ninety days. Insiders own 2.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. QS Investors LLC increased its holdings in AMETEK by 0.9% in the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock worth $172,000 after buying an additional 25 shares during the last quarter. M&T Bank Corp increased its holdings in AMETEK by 0.3% in the second quarter. M&T Bank Corp now owns 33,724 shares of the technology company’s stock worth $2,043,000 after buying an additional 101 shares during the last quarter. Sentry Investment Management LLC increased its holdings in AMETEK by 1.1% in the second quarter. Sentry Investment Management LLC now owns 15,008 shares of the technology company’s stock worth $909,000 after buying an additional 157 shares during the last quarter. Stephens Inc. AR increased its holdings in AMETEK by 3.5% in the second quarter. Stephens Inc. AR now owns 6,222 shares of the technology company’s stock worth $377,000 after buying an additional 213 shares during the last quarter. Finally, Commonwealth Bank of Australia increased its holdings in AMETEK by 17.7% in the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after buying an additional 263 shares during the last quarter. Institutional investors own 85.94% of the company’s stock.
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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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