AME has been the subject of several other reports. TD Cowen downgraded shares of AMETEK from an outperform rating to a market perform rating and decreased their target price for the stock from $165.00 to $160.00 in a research report on Monday, November 27th. KeyCorp upped their price target on shares of AMETEK from $176.00 to $182.00 and gave the company an overweight rating in a research note on Wednesday, February 7th. Finally, Royal Bank of Canada lowered their target price on shares of AMETEK from $192.00 to $188.00 and set an outperform rating on the stock in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, AMETEK presently has an average rating of Moderate Buy and an average price target of $174.25.
AMETEK Price Performance
AMETEK (NYSE:AME – Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.73 billion. AMETEK had a net margin of 19.91% and a return on equity of 17.96%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.52 earnings per share. On average, analysts expect that AMETEK will post 6.84 earnings per share for the current year.
AMETEK Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 8th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is currently 17.64%.
Institutional Investors Weigh In On AMETEK
A number of large investors have recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of AMETEK in the 4th quarter worth about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of AMETEK in the fourth quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in AMETEK during the fourth quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new stake in AMETEK during the fourth quarter valued at approximately $28,000. Finally, Covestor Ltd grew its position in AMETEK by 84.3% during the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after buying an additional 97 shares during the period. Institutional investors own 85.70% of the company’s stock.
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.
- Five stocks we like better than AMETEK
- What is Short Interest? How to Use It
- 3 attractive stocks that insiders are buying
- Mega Cap Stocks: What They Are and How to Invest
- Alpha and Omega Semiconductor ready to bounce, DOJ cloud lifts
- How to Invest in Casino Stocks
- Wendy’s vs Shake Shack: Out with the new, in with the old?
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.