AMETEK (NYSE:AME) Stock Rating Upgraded by StockNews.com

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

Other research analysts have also recently issued reports about the company. Robert W. Baird increased their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Mizuho increased their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. KeyCorp increased their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $199.29.

AMETEK Price Performance

NYSE AME traded up $0.67 on Wednesday, hitting $195.00. 890,922 shares of the company’s stock were exchanged, compared to its average volume of 1,155,035. The stock has a 50-day moving average of $180.49 and a 200-day moving average of $172.18. 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 has a 52 week low of $149.03 and a 52 week high of $198.33. The stock has a market cap of $45.11 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 3.19 and a beta of 1.15.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the company earned $1.64 EPS. AMETEK’s revenue was up 5.3% compared to the same quarter last year. Analysts expect that AMETEK will post 6.8 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction dated 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 in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,660 shares of company stock worth $5,958,141. Company insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Several large investors have recently made changes to their positions in AME. Itau Unibanco Holding S.A. lifted its position in AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after acquiring an additional 77 shares in the last quarter. Family Firm Inc. bought a new position in AMETEK in the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new position in AMETEK in the 2nd quarter valued at about $42,000. Princeton Global Asset Management LLC bought a new position in AMETEK in the 3rd quarter valued at about $44,000. Finally, Anchor Investment Management LLC lifted its position in AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after acquiring an additional 205 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.