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

Wolfe Research upgraded shares of AMETEK (NYSE:AME) to a hold rating in a research note issued to investors on Wednesday, Zacks.com reports.

Several other analysts also recently issued reports on AME. TD Cowen cut their price target on AMETEK from $165.00 to $158.00 and set a hold rating on the stock in a report on Monday, August 5th. Oppenheimer raised AMETEK from a market perform rating to an outperform rating and set a $200.00 target price on the stock in a research note on Wednesday, May 22nd. StockNews.com downgraded AMETEK from a buy rating to a hold rating in a research note on Tuesday, August 6th. Redburn Atlantic raised AMETEK to a strong-buy rating in a research note on Friday, August 2nd. Finally, Robert W. Baird cut their target price on AMETEK from $171.00 to $166.00 and set a neutral rating on the stock in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $186.29.

AMETEK Trading Down 0.7 %

NYSE:AME opened at $171.10 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average is $166.57 and its two-hundred day moving average is $171.33. AMETEK has a 52 week low of $136.89 and a 52 week high of $186.32. The company 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 (NYSE:AME) last announced its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the business posted $1.57 EPS. On average, analysts predict that AMETEK will post 6.77 EPS for the current year.

AMETEK Dividend Announcement

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

Institutional Investors Weigh In On AMETEK

Institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in AMETEK by 48.4% during the first 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 during the period. Bank of New York Mellon Corp increased its position in AMETEK by 34.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after purchasing an additional 926,657 shares during the last quarter. Principal Financial Group Inc. increased its position in AMETEK by 256.3% in the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock worth $162,844,000 after purchasing an additional 702,674 shares during the last quarter. Maren Capital LLC acquired a new position in AMETEK in the 4th quarter worth about $64,284,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in AMETEK in the 1st quarter worth about $46,343,000. 87.43% of the stock is owned by institutional investors and hedge funds.

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.