Robert W. Baird Cuts AMETEK (NYSE:AME) Price Target to $171.00

AMETEK (NYSE:AME - Get Free Report) had its price target reduced by analysts at Robert W. Baird from $173.00 to $171.00 in a research note issued to investors on Monday, 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 1.76% from the stock's previous close.

Several other research analysts have also recently weighed in on the stock. Truist Financial initiated coverage on shares of AMETEK in a report on Thursday, March 14th. They set a "buy" rating and a $210.00 price objective for the company. Royal Bank of Canada reduced their target price on shares of AMETEK from $192.00 to $188.00 and set an "outperform" rating for the company in a report on Wednesday, February 7th. StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a report on Saturday, March 2nd. Finally, KeyCorp lifted their target price on AMETEK from $182.00 to $205.00 and gave the company an "overweight" rating in a research report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $179.80.

AMETEK Trading Up 0.9 %

Shares of AME traded up $1.49 during trading hours on Monday, reaching $168.05. 1,448,527 shares of the company traded hands, compared to its average volume of 977,973. The company's fifty day moving average price is $179.42 and its two-hundred day moving average price is $166.49. The company has a market capitalization of $38.90 billion, a price-to-earnings ratio of 29.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the company posted $1.49 EPS. AMETEK's revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that AMETEK will post 6.81 earnings per share for the current fiscal year.

Insider Activity at AMETEK

In related news, VP Thomas M. Montgomery sold 6,891 shares of the company's stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares of the company's stock, valued at approximately $3,993,641.34. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, VP Thomas M. Montgomery sold 6,891 shares of the firm's stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the sale, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,400 shares of the firm's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock valued at $10,689,758 in the last ninety days. Company insiders own 0.61% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of AMETEK by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company's stock valued at $4,217,601,000 after buying an additional 84,832 shares during the period. Capital International Investors raised its position in shares of AMETEK by 5.0% during the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company's stock valued at $692,051,000 after buying an additional 198,777 shares during the period. Morgan Stanley raised its position in shares of AMETEK by 19.2% during the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company's stock valued at $618,983,000 after buying an additional 674,549 shares during the period. Norges Bank purchased a new stake in shares of AMETEK during the 4th quarter valued at approximately $589,098,000. Finally, Flossbach Von Storch AG raised its position in shares of AMETEK by 3.4% during the 1st quarter. Flossbach Von Storch AG now owns 2,673,507 shares of the technology company's stock valued at $488,984,000 after buying an additional 87,477 shares during the period. 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.