AMETEK, Inc. (AME) Sets New 1-Year High on Analyst Upgrade
AMETEK, Inc. (NYSE:AME) reached a new 52-week high on Monday after Jefferies Group raised their price target on the stock from $66.00 to $77.00. Jefferies Group currently has a buy rating on the stock. AMETEK traded as high as $67.69 and last traded at $67.66, with a volume of 210,330 shares. The stock had previously closed at $67.20.
AME has been the subject of several other research reports. Zacks Investment Research downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Stifel Nicolaus set a $70.00 price objective on shares of AMETEK and gave the stock a “buy” rating in a report on Friday, October 6th. BMO Capital Markets upped their price objective on shares of AMETEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Cowen and Company reaffirmed an “outperform” rating and issued a $66.00 price objective (up previously from $62.00) on shares of AMETEK in a report on Friday, July 7th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $70.00 price objective on shares of AMETEK in a report on Friday, October 6th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $67.82.
In other AMETEK news, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total value of $189,720.00. Following the sale, the director now directly owns 117,880 shares in the company, valued at $7,454,731.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas M. Montgomery sold 1,500 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $64.49, for a total transaction of $96,735.00. Following the completion of the sale, the vice president now owns 21,747 shares in the company, valued at $1,402,464.03. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,255 shares of company stock worth $11,483,064. 2.10% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of AME. Janus Henderson Group PLC raised its position in AMETEK by 22,076.4% in the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock worth $387,870,000 after acquiring an additional 6,374,794 shares in the last quarter. Boston Partners raised its position in AMETEK by 25.1% in the second quarter. Boston Partners now owns 4,301,460 shares of the technology company’s stock worth $260,539,000 after acquiring an additional 862,044 shares in the last quarter. Vanguard Group Inc. raised its position in AMETEK by 3.1% in the second quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock worth $1,367,497,000 after acquiring an additional 687,292 shares in the last quarter. SG Americas Securities LLC raised its position in AMETEK by 2,013.0% in the second quarter. SG Americas Securities LLC now owns 631,958 shares of the technology company’s stock worth $38,278,000 after acquiring an additional 602,050 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in AMETEK in the second quarter worth about $17,144,000. Hedge funds and other institutional investors own 85.56% of the company’s stock.
The firm has a market cap of $15.68 billion, a PE ratio of 29.80 and a beta of 1.31. The company has a 50 day moving average of $65.35 and a 200 day moving average of $61.40.
AMETEK (NYSE:AME) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.03. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMETEK had a return on equity of 17.25% and a net margin of 14.13%. The firm’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. On average, equities analysts anticipate that AMETEK, Inc. will post $2.52 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Thursday, September 14th. AMETEK’s dividend payout ratio is 15.79%.
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AMETEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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