AMETEK, Inc. (NYSE:AME) had its price target raised by Oppenheimer Holdings, Inc. to $75.00 in a report published on Friday, November 3rd. They currently have an outperform rating on the technology company’s stock. Oppenheimer Holdings also issued estimates for AMETEK’s Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.58 EPS, Q1 2018 earnings at $0.67 EPS, Q2 2018 earnings at $0.71 EPS, Q3 2018 earnings at $0.70 EPS, Q4 2018 earnings at $0.72 EPS, FY2018 earnings at $2.80 EPS and FY2019 earnings at $3.05 EPS.
Several other brokerages have also recently weighed in on AME. Zacks Investment Research raised shares of AMETEK from a hold rating to a buy rating and set a $71.00 price target for the company in a research report on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a buy rating and issued a $70.00 price target on shares of AMETEK in a research report on Friday, October 13th. Cowen and Company reaffirmed an outperform rating and issued a $66.00 price target (up previously from $62.00) on shares of AMETEK in a research report on Friday, July 7th. Morgan Stanley boosted their price objective on shares of AMETEK from $64.00 to $67.00 and gave the stock an equal weight rating in a research note on Friday, November 3rd. Finally, BMO Capital Markets boosted their price objective on shares of AMETEK from $67.00 to $69.00 and gave the stock an outperform rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. AMETEK presently has a consensus rating of Buy and a consensus target price of $71.60.
AMETEK (NYSE:AME) traded up $0.22 during trading on Friday, hitting $68.23. 1,039,700 shares of the stock were exchanged, compared to its average volume of 1,334,935. AMETEK has a 12-month low of $45.78 and a 12-month high of $70.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59. The company has a market cap of $15,770.00, a P/E ratio of 27.40, a PEG ratio of 2.32 and a beta of 1.33.
AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMETEK had a net margin of 14.15% and a return on equity of 16.74%. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.56 EPS. sell-side analysts forecast that AMETEK will post 2.58 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be paid a $0.09 dividend. The ex-dividend date is Tuesday, December 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.53%. AMETEK’s payout ratio is currently 15.13%.
In related news, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total transaction of $189,720.00. Following the completion of the sale, the director now directly owns 117,880 shares in the company, valued at $7,454,731.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frank S. Hermance sold 150,840 shares of AMETEK stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total transaction of $10,012,759.20. Following the sale, the insider now owns 2,191,341 shares of the company’s stock, valued at $145,461,215.58. The disclosure for this sale can be found here. Insiders have sold 169,155 shares of company stock worth $11,218,603 over the last three months. 2.10% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. QS Investors LLC increased its holdings in shares of AMETEK by 0.9% in the 2nd quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock valued at $172,000 after acquiring an additional 25 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of AMETEK by 0.3% in the 1st quarter. OppenheimerFunds Inc. now owns 8,735 shares of the technology company’s stock valued at $472,000 after acquiring an additional 30 shares during the period. Contravisory Investment Management Inc. increased its stake in AMETEK by 0.7% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,798 shares of the technology company’s stock valued at $291,000 after buying an additional 32 shares during the period. Cadence Capital Management LLC increased its stake in AMETEK by 0.9% in the 2nd quarter. Cadence Capital Management LLC now owns 6,960 shares of the technology company’s stock valued at $422,000 after buying an additional 62 shares during the period. Finally, Shufro Rose & Co. LLC increased its stake in AMETEK by 1.4% in the 2nd quarter. Shufro Rose & Co. LLC now owns 5,224 shares of the technology company’s stock valued at $316,000 after buying an additional 74 shares during the period. 85.31% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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