Gordon Haskett Initiates Coverage on AMETEK (NYSE:AME)

Equities researchers at Gordon Haskett assumed coverage on shares of AMETEK (NYSE:AME) in a research note issued to investors on Tuesday, MarketBeat reports. The firm set a “buy” rating and a $125.00 price target on the technology company’s stock. Gordon Haskett’s price objective indicates a potential upside of 26.92% from the stock’s current price.

Several other analysts have also issued reports on AME. ValuEngine upgraded shares of AMETEK from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Morgan Stanley set a $102.00 target price on shares of AMETEK and gave the company a “buy” rating in a research report on Friday, November 1st. KeyCorp lifted their price target on shares of AMETEK from $94.00 to $100.00 in a report on Wednesday, July 31st. Royal Bank of Canada set a $95.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Wolfe Research set a $100.00 price target on shares of AMETEK and gave the company a “buy” rating in a report on Friday, November 1st. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. AMETEK currently has a consensus rating of “Buy” and a consensus target price of $100.29.

Shares of NYSE AME opened at $98.49 on Tuesday. The firm has a 50 day moving average of $91.76 and a 200 day moving average of $88.40. The company has a current ratio of 2.05, a quick ratio of 1.48 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $22.44 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 2.17 and a beta of 1.20. AMETEK has a 12-month low of $63.14 and a 12-month high of $99.23.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.05. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 earnings per share. Sell-side analysts predict that AMETEK will post 4.14 EPS for the current year.

In other AMETEK news, CFO William Joseph Burke sold 12,510 shares of AMETEK stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $98.51, for a total transaction of $1,232,360.10. Following the transaction, the chief financial officer now owns 81,526 shares of the company’s stock, valued at $8,031,126.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Elizebeth R. Varet sold 4,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $85.69, for a total transaction of $342,760.00. Following the completion of the transaction, the director now directly owns 95,670 shares in the company, valued at approximately $8,197,962.30. The disclosure for this sale can be found here. Insiders have sold 53,070 shares of company stock worth $5,088,662 in the last ninety days. Insiders own 0.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC lifted its holdings in shares of AMETEK by 0.9% in the third quarter. Commonwealth Equity Services LLC now owns 13,097 shares of the technology company’s stock worth $1,202,000 after buying an additional 121 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its holdings in shares of AMETEK by 67.8% in the third quarter. Shine Investment Advisory Services Inc. now owns 302 shares of the technology company’s stock worth $28,000 after buying an additional 122 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in shares of AMETEK by 1.5% in the third quarter. Park Avenue Securities LLC now owns 8,125 shares of the technology company’s stock worth $746,000 after buying an additional 124 shares in the last quarter. 180 Wealth Advisors LLC lifted its holdings in shares of AMETEK by 4.1% in the second quarter. 180 Wealth Advisors LLC now owns 3,411 shares of the technology company’s stock worth $301,000 after buying an additional 134 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of AMETEK by 4.6% in the second quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock worth $278,000 after buying an additional 137 shares in the last quarter. 87.28% of the stock is currently owned by hedge funds and other institutional investors.

AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Analyst Recommendations for AMETEK (NYSE:AME)

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