Robert W. Baird Cuts AMETEK (NYSE:AME) Price Target to $197.00

AMETEK (NYSE:AME) had its price target dropped by research analysts at Robert W. Baird from $200.00 to $197.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the technology company’s stock. Robert W. Baird’s target price suggests a potential upside of 8.65% from the company’s current price.

Several other brokerages have also recently commented on AME. BNP Paribas upgraded 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. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research note on Tuesday, January 28th. KeyCorp increased their target price on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their price target for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, Truist Financial boosted their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $204.67.

AMETEK Stock Performance

AMETEK stock opened at $181.32 on Wednesday. AMETEK has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock has a 50 day moving average of $184.84 and a 200-day moving average of $176.58. The stock has a market cap of $41.94 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 2.67 and a beta of 1.16.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.68 earnings per share. On average, analysts expect that AMETEK will post 6.8 EPS for the current fiscal year.

Insider Activity at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. The trade was a 18.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 29,200 shares of company stock worth $5,707,620. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp raised its position in AMETEK by 0.3% during the third quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock valued at $1,583,231,000 after acquiring an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of AMETEK by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock valued at $1,199,454,000 after purchasing an additional 250,538 shares during the last quarter. Geode Capital Management LLC lifted its holdings in AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after buying an additional 45,459 shares during the period. Bank of New York Mellon Corp raised its holdings in AMETEK by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 4,415,508 shares of the technology company’s stock worth $795,939,000 after purchasing an additional 99,505 shares during the period. Finally, Flossbach Von Storch SE increased its stake in AMETEK by 2.5% during the 4th quarter. Flossbach Von Storch SE now owns 3,724,352 shares of the technology company’s stock worth $671,352,000 after purchasing an additional 91,287 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.