AMETEK (NYSE:AME) had its price objective raised by Oppenheimer from $94.00 to $100.00 in a research note released on Wednesday morning, The Fly reports. Oppenheimer currently has an outperform rating on the technology company’s stock. Oppenheimer also issued estimates for AMETEK’s FY2019 earnings at $4.09 EPS.
Other equities research analysts have also issued research reports about the stock. Berenberg Bank initiated coverage on shares of AMETEK in a report on Wednesday, May 15th. They issued a buy rating and a $100.00 price target on the stock. BMO Capital Markets raised their target price on shares of AMETEK from $99.00 to $101.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Vertical Research reaffirmed a buy rating on shares of AMETEK in a research report on Friday, May 3rd. Zacks Investment Research raised shares of AMETEK from a hold rating to a buy rating and set a $90.00 target price for the company in a research report on Thursday, June 13th. Finally, KeyCorp raised their target price on shares of AMETEK from $94.00 to $100.00 in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $94.36.
AMETEK stock traded down $1.82 during trading hours on Wednesday, reaching $86.50. The stock had a trading volume of 1,662,847 shares, compared to its average volume of 1,293,026. The stock has a market cap of $20.12 billion, a PE ratio of 26.29, a PEG ratio of 2.28 and a beta of 1.22. AMETEK has a 52 week low of $63.14 and a 52 week high of $92.30. The company has a current ratio of 2.17, a quick ratio of 1.27 and a debt-to-equity ratio of 0.51. The company’s fifty day simple moving average is $89.13.
AMETEK (NYSE:AME) last announced its quarterly earnings results on Tuesday, July 30th. The technology company reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.02. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.32 billion. AMETEK had a net margin of 16.32% and a return on equity of 19.27%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. Research analysts predict that AMETEK will post 4.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.65%. AMETEK’s dividend payout ratio is 17.02%.
In other news, VP Thomas M. Montgomery sold 5,602 shares of the firm’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $88.50, for a total value of $495,777.00. Following the completion of the sale, the vice president now directly owns 26,419 shares of the company’s stock, valued at approximately $2,338,081.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas A. Amato sold 1,790 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $83.57, for a total transaction of $149,590.30. Following the completion of the sale, the director now directly owns 9,370 shares of the company’s stock, valued at $783,050.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 91,800 shares of company stock valued at $7,936,112. Corporate insiders own 0.80% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CENTRAL TRUST Co lifted its position in AMETEK by 4.6% during the 2nd quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock valued at $278,000 after acquiring an additional 137 shares during the period. Cornerstone Advisors Inc. lifted its position in AMETEK by 55.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after acquiring an additional 138 shares during the period. ETF Managers Group LLC lifted its position in AMETEK by 7.9% during the 1st quarter. ETF Managers Group LLC now owns 1,890 shares of the technology company’s stock valued at $157,000 after acquiring an additional 139 shares during the period. Berman Capital Advisors LLC lifted its position in AMETEK by 51.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after acquiring an additional 154 shares during the period. Finally, Sapience Investments LLC lifted its position in AMETEK by 0.4% during the 1st quarter. Sapience Investments LLC now owns 39,405 shares of the technology company’s stock valued at $3,269,000 after acquiring an additional 155 shares during the period. 85.82% of the stock is owned by institutional investors.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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