Berenberg Bank assumed coverage on shares of AMETEK (NYSE:AME) in a research report released on Wednesday, BenzingaRatingsTable reports. The firm issued a buy rating and a $100.00 price objective on the technology company’s stock.
Several other research firms have also recently commented on AME. Morgan Stanley set a $95.00 target price on AMETEK and gave the company a buy rating in a research note on Friday, May 3rd. Vertical Research restated a buy rating on shares of AMETEK in a research note on Friday, May 3rd. BMO Capital Markets boosted their target price on AMETEK from $99.00 to $101.00 and gave the company an outperform rating in a research note on Thursday, May 2nd. KeyCorp upped their price objective on AMETEK from $86.00 to $94.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. Finally, DA Davidson upped their price objective on AMETEK to $101.00 and gave the stock a buy rating in a research note on Thursday, May 2nd. Fifteen research analysts have rated the stock with a buy rating, The stock currently has a consensus rating of Buy and an average target price of $91.00.
NYSE AME traded up $1.53 during trading on Wednesday, hitting $86.55. The stock had a trading volume of 194,356 shares, compared to its average volume of 1,199,851. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 2.14 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.27 and a current ratio of 1.91. AMETEK has a 12 month low of $63.14 and a 12 month high of $88.76.
AMETEK (NYSE:AME) last released its earnings results on Wednesday, May 1st. The technology company reported $1.00 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.28 billion. AMETEK had a return on equity of 18.56% and a net margin of 16.14%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 EPS. On average, equities research analysts forecast that AMETEK will post 4.07 EPS for the current year.
AMETEK announced that its board has authorized a share repurchase plan on Wednesday, February 13th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Thursday, June 13th. AMETEK’s dividend payout ratio (DPR) is presently 17.02%.
In related news, VP Thomas M. Montgomery sold 3,536 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $79.95, for a total value of $282,703.20. Following the sale, the vice president now owns 20,191 shares in the company, valued at approximately $1,614,270.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP William D. Eginton sold 15,546 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $80.00, for a total value of $1,243,680.00. Following the completion of the sale, the vice president now owns 59,516 shares in the company, valued at approximately $4,761,280. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,826 shares of company stock worth $7,815,997. 0.80% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Dudley & Shanley Inc. grew its holdings in AMETEK by 54.4% in the 1st quarter. Dudley & Shanley Inc. now owns 51,849 shares of the technology company’s stock valued at $4,302,000 after buying an additional 18,275 shares in the last quarter. Gotham Asset Management LLC grew its holdings in shares of AMETEK by 10.8% during the 4th quarter. Gotham Asset Management LLC now owns 172,158 shares of the technology company’s stock worth $11,655,000 after purchasing an additional 16,829 shares in the last quarter. Forte Capital LLC ADV grew its holdings in shares of AMETEK by 1.1% during the 4th quarter. Forte Capital LLC ADV now owns 91,626 shares of the technology company’s stock worth $6,203,000 after purchasing an additional 973 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of AMETEK by 8.7% during the 4th quarter. IFM Investors Pty Ltd now owns 14,087 shares of the technology company’s stock worth $954,000 after purchasing an additional 1,131 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of AMETEK by 12.8% during the 4th quarter. Diversified Trust Co now owns 3,849 shares of the technology company’s stock worth $261,000 after purchasing an additional 436 shares in the last quarter. 85.72% of the stock is currently owned by hedge funds and other 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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