KeyCorp Issues Positive Forecast for AMETEK (NYSE:AME) Stock Price

AMETEK (NYSE:AME) had its price objective increased by KeyCorp from $205.00 to $215.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

Other equities analysts have also issued reports about the stock. Mizuho raised their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Wolfe Research raised shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. Truist Financial raised their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $199.29.

AMETEK Price Performance

Shares of AMETEK stock opened at $197.37 on Friday. AMETEK has a twelve month low of $149.03 and a twelve month high of $197.83. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The company has a 50-day simple moving average of $176.46 and a two-hundred day simple moving average of $170.70. The stock has a market capitalization of $45.65 billion, a price-to-earnings ratio of 34.38, a price-to-earnings-growth ratio of 3.16 and a beta of 1.16.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $1.64 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Analysts forecast that AMETEK will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Activity at AMETEK

In related news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK 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 sale, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMETEK

Hedge funds have recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. boosted its position in AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after buying an additional 77 shares during the period. Family Firm Inc. acquired a new stake in AMETEK during the 2nd quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK during the 2nd quarter worth approximately $42,000. Princeton Global Asset Management LLC acquired a new stake in AMETEK during the 3rd quarter worth approximately $44,000. Finally, Anchor Investment Management LLC lifted its position in shares of AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after purchasing an additional 205 shares during the period. 87.43% of the stock is currently 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.