AMETEK (NYSE:AME) Price Target Raised to $174.00

Posted by on Aug 6th, 2023

AMETEK (NYSE:AME – Free Report) had its price objective hoisted by Morgan Stanley from $162.00 to $174.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the technology company’s stock.

Several other research analysts have also recently weighed in on the stock. DA Davidson upped their price objective on shares of AMETEK from $177.00 to $180.00 in a research report on Thursday, June 8th. Wells Fargo & Company upped their price objective on shares of AMETEK from $180.00 to $185.00 and gave the stock an overweight rating in a research report on Wednesday. Mizuho upped their price objective on shares of AMETEK from $161.00 to $166.00 and gave the stock a buy rating in a research report on Wednesday. StockNews.com initiated coverage on shares of AMETEK in a research report on Thursday, May 18th. They issued a buy rating on the stock. Finally, Royal Bank of Canada upped their price objective on shares of AMETEK from $174.00 to $182.00 and gave the stock an outperform rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $175.29.

AMETEK Trading Down 0.8 %

Shares of AMETEK stock opened at $156.57 on Wednesday. AMETEK has a 12-month low of $110.87 and a 12-month high of $164.75. The company has a market cap of $36.12 billion, a price-to-earnings ratio of 29.32, a PEG ratio of 2.76 and a beta of 1.21. The company has a current ratio of 2.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $155.85 and its 200-day moving average price is $146.71.

AMETEK (NYSE:AME – Get Free Report) last announced its quarterly earnings results on Tuesday, August 1st. The technology company reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.05. AMETEK had a net margin of 19.23% and a return on equity of 18.32%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm posted $1.38 earnings per share. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts expect that AMETEK will post 6.26 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Thursday, September 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Wednesday, September 13th. AMETEK’s payout ratio is currently 18.73%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich grew its holdings in shares of AMETEK by 97,096.7% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 13,834,006 shares of the technology company’s stock worth $2,239,449,000 after purchasing an additional 13,819,773 shares during the last quarter. Norges Bank bought a new position in shares of AMETEK in the fourth quarter worth approximately $509,944,000. Price T Rowe Associates Inc. MD grew its holdings in shares of AMETEK by 643.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,953,131 shares of the technology company’s stock worth $552,332,000 after purchasing an additional 3,421,558 shares during the last quarter. FMR LLC grew its holdings in shares of AMETEK by 34.9% in the first quarter. FMR LLC now owns 10,042,152 shares of the technology company’s stock worth $1,459,426,000 after purchasing an additional 2,597,135 shares during the last quarter. Finally, Moneta Group Investment Advisors LLC grew its holdings in shares of AMETEK by 39,681.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 1,827,569 shares of the technology company’s stock worth $255,348,000 after purchasing an additional 1,822,975 shares during the last quarter. 85.13% of the stock is currently owned by institutional investors.

AMETEK Company Profile

(Get Free Report)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.

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Analyst Recommendations for AMETEK (NYSE:AME)

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