AMETEK (NYSE:AME) Sets New 12-Month High After Analyst Upgrade

AMETEK, Inc. (NYSE:AME)’s stock price reached a new 52-week high during trading on Thursday after Morgan Stanley raised their price target on the stock from $102.00 to $109.00. Morgan Stanley currently has an overweight rating on the stock. AMETEK traded as high as $99.84 and last traded at $99.22, with a volume of 196017 shares changing hands. The stock had previously closed at $98.67.

Several other equities research analysts have also commented on AME. Gordon Haskett initiated coverage on shares of AMETEK in a report on Wednesday, November 27th. They issued a “buy” rating and a $125.00 price target for the company. Rosenblatt Securities initiated coverage on shares of AMETEK in a report on Thursday, November 7th. They issued a “buy” rating and a $115.00 price target for the company. 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. ValuEngine upgraded shares of AMETEK from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Bank of America lowered shares of AMETEK from a “buy” rating to a “neutral” rating and reduced their price target for the company from $105.00 to $95.00 in a report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. AMETEK presently has an average rating of “Buy” and an average target price of $100.79.

In other AMETEK news, insider Thomas C. Marecic sold 13,990 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $95.02, for a total transaction of $1,329,329.80. Following the sale, the insider now owns 36,014 shares of the company’s stock, valued at approximately $3,422,050.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas M. Montgomery sold 7,036 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total transaction of $676,159.60. Following the sale, the vice president now directly owns 27,853 shares in the company, valued at approximately $2,676,673.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 50,130 shares of company stock valued at $4,850,238. 0.80% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC grew its position in AMETEK by 0.9% during the 3rd quarter. Commonwealth Equity Services LLC now owns 13,097 shares of the technology company’s stock worth $1,202,000 after purchasing an additional 121 shares during the last quarter. Shine Investment Advisory Services Inc. grew its position in AMETEK by 67.8% during the 3rd quarter. Shine Investment Advisory Services Inc. now owns 302 shares of the technology company’s stock worth $28,000 after purchasing an additional 122 shares during the last quarter. Park Avenue Securities LLC grew its position in AMETEK by 1.5% during the 3rd quarter. Park Avenue Securities LLC now owns 8,125 shares of the technology company’s stock worth $746,000 after purchasing an additional 124 shares during the last quarter. 180 Wealth Advisors LLC grew its position in AMETEK by 4.1% during the 2nd quarter. 180 Wealth Advisors LLC now owns 3,411 shares of the technology company’s stock worth $301,000 after purchasing an additional 134 shares during the last quarter. Finally, Parallel Advisors LLC grew its position in AMETEK by 30.7% during the 3rd quarter. Parallel Advisors LLC now owns 596 shares of the technology company’s stock worth $55,000 after purchasing an additional 140 shares during the last quarter. 85.97% of the stock is currently owned by institutional investors.

The company has a market cap of $22.48 billion, a PE ratio of 30.12, a P/E/G ratio of 2.18 and a beta of 1.23. 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’s 50-day simple moving average is $96.02 and its two-hundred day simple moving average is $89.72.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.05. The company had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. AMETEK’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.91 EPS. As a group, analysts predict that AMETEK, Inc. will post 4.14 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, December 5th. AMETEK’s dividend payout ratio (DPR) is currently 17.02%.

AMETEK Company Profile (NYSE:AME)

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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