AMETEK (NYSE:AME) Cut to “Hold” at StockNews.com

StockNews.com cut shares of AMETEK (NYSE:AME) from a buy rating to a hold rating in a report published on Monday.

A number of other equities analysts also recently commented on AME. Truist Financial lifted their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Mizuho raised their target price on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $195.00 to $225.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $202.50.

AMETEK Trading Down 3.2 %

Shares of AMETEK stock opened at $180.76 on Monday. AMETEK has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market cap of $41.81 billion, a P/E ratio of 31.49, a P/E/G ratio of 3.08 and a beta of 1.15. The stock’s 50 day simple moving average is $184.30 and its 200-day simple moving average is $173.45.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the previous year, the company posted $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict that AMETEK will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. AMETEK’s dividend payout ratio is presently 19.51%.

Insider Activity at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction 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 completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,660 shares of company stock worth $5,958,141. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

A number of large investors have recently modified their holdings of the company. Itau Unibanco Holding S.A. raised its stake in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after buying an additional 77 shares in the last quarter. Family Firm Inc. purchased a new position in shares of AMETEK in the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of AMETEK during the 2nd quarter worth about $42,000. Princeton Global Asset Management LLC purchased a new stake in AMETEK during the third quarter worth approximately $44,000. Finally, Anchor Investment Management LLC boosted its holdings in AMETEK by 366.1% in the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares in the last quarter. 87.43% of the stock is owned by hedge funds and other 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.