AMETEK (NYSE:AME) Cut to Hold at Melius

Melius lowered shares of AMETEK (NYSE:AME - Free Report) from a buy rating to a hold rating in a research note released on Monday morning, Marketbeat.com reports. The firm currently has $192.00 target price on the technology company's stock.

Several other research analysts also recently weighed in on the company. Truist Financial increased their price target on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Robert W. Baird decreased their price objective on AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. Royal Bank Of Canada raised their price objective on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Wall Street Zen raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, May 12th. Finally, Mizuho set a $212.00 target price on AMETEK in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $197.30.

AMETEK Stock Up 0.3%

Shares of NYSE:AME traded up $0.57 during trading on Monday, reaching $177.01. 1,717,298 shares of the stock were exchanged, compared to its average volume of 1,308,561. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.41 and a quick ratio of 0.86. AMETEK has a 1-year low of $145.02 and a 1-year high of $198.33. The stock has a fifty day moving average of $178.98 and a two-hundred day moving average of $176.92. The firm has a market cap of $40.87 billion, a price-to-earnings ratio of 28.97, a price-to-earnings-growth ratio of 2.67 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last announced its 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. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the firm posted $1.64 EPS. The business's revenue was down .2% compared to the same quarter last year. Research analysts anticipate that AMETEK will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business 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. This represents a $1.24 annualized dividend and a yield of 0.70%. The ex-dividend date was Friday, June 13th. AMETEK's dividend payout ratio (DPR) is 20.29%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bank Pictet & Cie Europe AG increased its position in AMETEK by 23.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 183,024 shares of the technology company's stock valued at $32,992,000 after acquiring an additional 34,866 shares during the last quarter. Independent Advisor Alliance bought a new position in shares of AMETEK in the fourth quarter worth about $430,000. Sequoia Financial Advisors LLC boosted its stake in shares of AMETEK by 11.6% in the fourth quarter. Sequoia Financial Advisors LLC now owns 5,670 shares of the technology company's stock worth $1,022,000 after acquiring an additional 591 shares during the period. Avantax Advisory Services Inc. boosted its stake in AMETEK by 35.4% during the fourth quarter. Avantax Advisory Services Inc. now owns 4,971 shares of the technology company's stock valued at $896,000 after buying an additional 1,299 shares during the last quarter. Finally, Frank Rimerman Advisors LLC boosted its stake in AMETEK by 14.0% during the fourth quarter. Frank Rimerman Advisors LLC now owns 2,698 shares of the technology company's stock valued at $486,000 after buying an additional 332 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

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.