AMETEK, Inc. (NYSE:AME) Stock Has Average Target Price of $278.06 According to Analysts

Shares of AMETEK, Inc. (NYSE:AME) have received a consensus recommendation of “Moderate Buy” from the nineteen analysts that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $278.06.

AME has been the topic of several recent research reports. Mizuho lowered their price target on shares of AMETEK from $285.00 to $275.00 and set an “outperform” rating on the stock in a report on Wednesday, November 4th. Zacks Research upgraded AMETEK from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. KeyCorp boosted their price objective on AMETEK from $260.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, August 5th. Royal Bank Of Canada upped their target price on AMETEK from $291.00 to $308.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. Finally, Truist Financial lifted their price target on AMETEK from $303.00 to $316.00 and gave the company a “buy” rating in a research report on Thursday, August 6th.

Hedge Funds Weigh In On AMETEK

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

AMETEK Price Performance

Shares of NYSE AME opened at $238.53 on Friday. AMETEK has a 52 week low of $188.47 and a 52 week high of $261.16. The business’s 50 day moving average price is $242.93 and its 200 day moving average price is $234.71. The company has a quick ratio of 0.76, a current ratio of 1.43 and a debt-to-equity ratio of 0.52. The firm has a market cap of $54.70 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.11 and a beta of 0.96.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, November 3rd. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.11 by $0.10. The business had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.12 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.89 EPS. On average, sell-side analysts expect that AMETEK will post 8.59 earnings per share for the current year.

AMETEK Announces Dividend

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

AMETEK Company Profile

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.