AMETEK (NYSE:AME) Downgraded by StockNews.com to “Hold”

AMETEK (NYSE:AME) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Other analysts have also issued research reports about the stock. Royal Bank of Canada dropped their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Truist Financial upped their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Robert W. Baird boosted their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Stock Performance

Shares of AME stock traded down $0.65 during mid-day trading on Friday, reaching $193.10. The stock had a trading volume of 2,103,201 shares, compared to its average volume of 1,155,791. AMETEK has a 1-year low of $149.03 and a 1-year high of $196.70. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a market cap of $44.67 billion, a price-to-earnings ratio of 33.64, a PEG ratio of 3.19 and a beta of 1.16. The business’s fifty day moving average is $173.00 and its 200-day moving average is $169.71.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 earnings per share. On average, research analysts forecast that AMETEK will post 6.81 earnings per share for the current year.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in shares of AMETEK by 7.3% during the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after buying an additional 61 shares during the period. MorganRosel Wealth Management LLC boosted its position in shares of AMETEK by 1.6% in the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after purchasing an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI raised its holdings in shares of AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after acquiring an additional 61 shares during the period. First Horizon Advisors Inc. boosted its stake in AMETEK by 2.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after purchasing an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC grew its position in AMETEK by 2.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after purchasing an additional 63 shares in the last quarter. 87.43% of the stock is currently 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.