Mizuho Boosts AMETEK (NYSE:AME) Price Target to $190.00

AMETEK (NYSE:AME) had its target price hoisted by Mizuho from $180.00 to $190.00 in a research note published on Thursday morning, Benzinga reports. They currently have an outperform rating on the technology company’s stock.

AME has been the subject of several other reports. Robert W. Baird lowered their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada decreased their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $193.29.

AMETEK Stock Performance

NYSE AME opened at $169.40 on Thursday. 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 company has a market cap of $39.21 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.77 and a beta of 1.17. The stock has a 50-day moving average of $167.84 and a two-hundred day moving average of $169.53. AMETEK has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, topping 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 firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the firm earned $1.57 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts anticipate that AMETEK will post 6.76 EPS for the current year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.66%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of AME. Nomura Holdings Inc. acquired a new stake in shares of AMETEK during the fourth quarter worth about $768,000. Czech National Bank grew its stake in shares of AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after purchasing an additional 3,499 shares during the last quarter. Duality Advisers LP acquired a new position in shares of AMETEK in the first quarter valued at approximately $1,676,000. CWM LLC raised its stake in shares of AMETEK by 53.9% during the second quarter. CWM LLC now owns 10,594 shares of the technology company’s stock worth $1,766,000 after purchasing an additional 3,711 shares during the last quarter. Finally, American National Bank & Trust Co. VA purchased a new position in AMETEK in the 1st quarter valued at $6,978,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.