AMETEK (NYSE:AME) Stock Rating Upgraded by Melius Research

Melius Research upgraded shares of AMETEK (NYSE:AME - Free Report) to a hold rating in a report published on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on AME. Royal Bank Of Canada lifted their price target on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a research note on Friday, May 2nd. Truist Financial lifted their price objective on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Wall Street Zen upgraded shares of AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Robert W. Baird reduced their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, Morgan Stanley assumed coverage on shares of AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $197.30.

AMETEK Price Performance

Shares of AMETEK stock traded down $1.15 during midday trading on Monday, reaching $178.55. The company had a trading volume of 1,011,971 shares, compared to its average volume of 1,308,425. The stock has a fifty day simple moving average of $179.43 and a 200 day simple moving average of $176.91. The company has a market capitalization of $41.22 billion, a price-to-earnings ratio of 29.22, a price-to-earnings-growth ratio of 2.69 and a beta of 1.09. AMETEK has a 1-year low of $145.02 and a 1-year high of $198.33. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The firm's revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 EPS. As a group, equities research analysts forecast that AMETEK will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.31 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK's dividend payout ratio (DPR) is presently 20.29%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. DAVENPORT & Co LLC grew its position in AMETEK by 0.8% during the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock valued at $1,226,000 after buying an additional 60 shares during the period. Alps Advisors Inc. boosted its position in shares of AMETEK by 1.0% during the first quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company's stock worth $1,078,000 after acquiring an additional 60 shares during the last quarter. EWA LLC boosted its position in shares of AMETEK by 4.9% during the first quarter. EWA LLC now owns 1,382 shares of the technology company's stock worth $238,000 after acquiring an additional 65 shares during the last quarter. Buckhead Capital Management LLC boosted its position in shares of AMETEK by 0.3% during the first quarter. Buckhead Capital Management LLC now owns 22,830 shares of the technology company's stock worth $3,930,000 after acquiring an additional 65 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of AMETEK by 1.5% during the first quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock worth $796,000 after acquiring an additional 67 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.