AMETEK, Inc. (NYSE:AME) Receives Average Recommendation of “Moderate Buy” from Analysts

AMETEK, Inc. (NYSE:AME) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $186.29.

Several equities analysts have recently weighed in on AME shares. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Royal Bank of Canada lowered their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Truist Financial reduced their target price on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a report on Friday, August 2nd.

Institutional Investors Weigh In On AMETEK

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in AMETEK by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock valued at $4,217,601,000 after buying an additional 84,832 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after buying an additional 2,306,535 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in AMETEK by 0.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after buying an additional 44,899 shares in the last quarter. Capital International Investors grew its holdings in AMETEK by 5.0% during the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock valued at $692,051,000 after buying an additional 198,777 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Price Performance

AME opened at $171.10 on Monday. The stock has a 50-day moving average price of $166.57 and a 200-day moving average price of $171.27. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a market cap of $39.60 billion, a PE ratio of 30.07, a P/E/G ratio of 2.71 and a beta of 1.17. AMETEK has a 1 year low of $136.89 and a 1 year high of $186.32.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the prior year, the business earned $1.57 EPS. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. Sell-side analysts predict that AMETEK will post 6.77 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in the North America, Europe, Asia, and South America, and internationally. 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; instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets; power quality monitoring and c devices, uninterruptible power supplies, programmable power and electromagnetic compatibility test equipment, and sensors for gas turbines and dashboard instruments; heavy trucks, instrumentation, and controls for the food and beverage industries; and aircraft and engine sensors, power supplies, embedded computing, monitoring, fuel and fluid measurement, and data acquisition systems for aerospace and defense industry.