Robert W. Baird Has Lowered Expectations for AMETEK (NYSE:AME) Stock Price

AMETEK (NYSE:AME) had its price objective cut by investment analysts at Robert W. Baird from $200.00 to $197.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s price objective would suggest a potential upside of 7.86% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Mizuho boosted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Tuesday, January 28th. KeyCorp boosted their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Stock Performance

Shares of AMETEK stock opened at $182.64 on Wednesday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. AMETEK has a twelve month low of $149.03 and a twelve month high of $198.33. The stock has a market cap of $42.25 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 2.67 and a beta of 1.16. The company’s fifty day moving average is $184.54 and its 200 day moving average is $176.61.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.85 by $0.02. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. During the same quarter in the previous year, the firm posted $1.68 earnings per share. AMETEK’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts forecast that AMETEK will post 6.8 EPS for the current year.

Insider Activity

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several hedge funds and other institutional investors have recently made changes to their positions in AME. Czech National Bank grew its position in AMETEK by 6.9% in the 3rd quarter. Czech National Bank now owns 47,166 shares of the technology company’s stock worth $8,099,000 after purchasing an additional 3,058 shares in the last quarter. GAMMA Investing LLC grew its position in AMETEK by 96.2% in the 3rd quarter. GAMMA Investing LLC now owns 4,828 shares of the technology company’s stock worth $829,000 after purchasing an additional 2,367 shares in the last quarter. Fulton Bank N.A. grew its position in AMETEK by 7.2% in the 3rd quarter. Fulton Bank N.A. now owns 3,078 shares of the technology company’s stock worth $529,000 after purchasing an additional 206 shares in the last quarter. CWM LLC grew its position in AMETEK by 6.1% in the 3rd quarter. CWM LLC now owns 11,236 shares of the technology company’s stock worth $1,929,000 after purchasing an additional 642 shares in the last quarter. Finally, Mountain Pacific Investment Advisers LLC grew its position in AMETEK by 0.8% in the 3rd quarter. Mountain Pacific Investment Advisers LLC now owns 373,569 shares of the technology company’s stock worth $64,146,000 after purchasing an additional 2,927 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

AMETEK Company Profile

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.