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

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

Several other analysts also recently commented on AME. KeyCorp increased their price objective on shares of 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 dropped their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. Truist Financial assumed coverage on shares of AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 price target on the stock. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $179.80.

AMETEK Stock Up 2.0 %

Shares of NYSE AME opened at $166.56 on Monday. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32. 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 firm has a fifty day simple moving average of $179.64 and a two-hundred day simple moving average of $166.32. The firm has a market capitalization of $38.55 billion, a PE ratio of 29.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last announced its quarterly earnings data 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. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. Equities analysts expect that AMETEK will post 6.81 earnings per share for the current year.

Insiders Place Their Bets

In other AMETEK news, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares in the company, valued at approximately $1,863,680. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the sale, the vice president now directly owns 21,543 shares in the company, valued at $3,993,641.34. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Thomas A. Amato sold 780 shares of AMETEK 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 sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,881 shares of company stock worth $10,689,758. Company insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Several institutional investors and hedge funds have recently made changes to their positions in AME. Norges Bank bought a new stake in shares of AMETEK in the fourth quarter valued at about $589,098,000. Morgan Stanley lifted its position in shares of AMETEK by 19.2% during the third quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after buying an additional 674,549 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of AMETEK by 4,845.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after buying an additional 663,385 shares in the last quarter. Qube Research & Technologies Ltd purchased a new position in shares of AMETEK in the 3rd quarter worth approximately $90,248,000. Finally, Adage Capital Partners GP L.L.C. grew its position in shares of AMETEK by 84.9% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,081,557 shares of the technology company’s stock worth $159,811,000 after buying an additional 496,523 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

About AMETEK

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.