AMETEK (NYSE:AME) Upgraded to Hold at Wolfe Research

Wolfe Research upgraded shares of AMETEK (NYSE:AME) to a hold rating in a report released on Wednesday, Zacks.com reports.

Other analysts also recently issued research reports about the company. TD Cowen reduced their price objective on AMETEK from $165.00 to $158.00 and set a hold rating for the company in a research report on Monday, August 5th. Royal Bank of Canada reduced their target price on AMETEK from $216.00 to $215.00 and set an outperform rating for the company in a research report on Friday, August 2nd. Redburn Atlantic upgraded shares of AMETEK to a strong-buy rating in a research note on Friday, August 2nd. Truist Financial dropped their price objective on shares of AMETEK from $204.00 to $201.00 and set a buy rating for the company in a research note on Friday, August 2nd. Finally, Robert W. Baird decreased their target price on shares of AMETEK from $171.00 to $166.00 and set a neutral rating on the stock in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $186.29.

AMETEK Price Performance

NYSE:AME opened at $171.10 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK has a one year low of $136.89 and a one year high of $186.32. The company has a fifty day moving average price of $166.57 and a 200 day moving average price of $171.39. The stock has a market cap of $39.60 billion, a P/E ratio of 30.07, a PEG ratio of 2.71 and a beta of 1.17.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business earned $1.57 earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts anticipate that AMETEK will post 6.77 earnings per share for the current year.

AMETEK Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in AMETEK by 0.3% in 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 purchasing an additional 84,832 shares during 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 worth $1,294,121,000 after acquiring an additional 2,306,535 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in AMETEK by 0.7% in 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 acquiring an additional 44,899 shares in the last quarter. Capital International Investors raised its stake in shares of AMETEK by 5.0% in the fourth quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock worth $692,051,000 after acquiring an additional 198,777 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of AMETEK by 34.6% during 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 during the last quarter. Institutional investors own 87.43% of the company’s stock.

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.