AMETEK (NYSE:AME) Raised to Buy at StockNews.com

AMETEK (NYSE:AME) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

A number of other research firms have also recently commented on AME. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research report on Thursday, January 16th. Mizuho upped 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. Robert W. Baird lifted their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial upped their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned 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 an average target price of $203.44.

AMETEK Stock Down 0.2 %

Shares of AME stock opened at $182.59 on Tuesday. AMETEK has a twelve month low of $149.03 and a twelve month high of $198.33. The stock has a market cap of $42.23 billion, a P/E ratio of 31.81, a P/E/G ratio of 2.73 and a beta of 1.16. The stock has a 50 day moving average of $186.09 and a 200 day moving average of $176.20. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

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 the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $1.64 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts expect that AMETEK will post 6.8 EPS for the current year.

Insider Activity at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction on 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 transaction, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,200 shares of company stock valued at $5,707,620. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Oddo BHF Asset Management Sas purchased a new position in AMETEK in the third quarter worth approximately $3,724,000. Everence Capital Management Inc. purchased a new position in shares of AMETEK during the 4th quarter worth $999,000. BNP Paribas Financial Markets increased its position in shares of AMETEK by 23.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock worth $61,099,000 after purchasing an additional 67,025 shares during the last quarter. Taurus Asset Management LLC raised its holdings in AMETEK by 2.9% in the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock valued at $19,752,000 after buying an additional 3,210 shares during the period. Finally, Sawgrass Asset Management LLC lifted its position in AMETEK by 36.5% in the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock valued at $12,837,000 after buying an additional 20,001 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.