AMETEK (NYSE:AME) Shares Gap Down – Time to Sell?

AMETEK, Inc. (NYSE:AME)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $184.13, but opened at $176.00. AMETEK shares last traded at $178.69, with a volume of 449,532 shares trading hands.

Analyst Ratings Changes

AME has been the subject of a number of research analyst reports. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Wednesday. Mizuho raised their price target 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 decreased their price target on AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday. KeyCorp raised their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, Truist Financial raised their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $204.67.

AMETEK Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The company has a 50 day simple moving average of $184.54 and a two-hundred day simple moving average of $176.61. The firm has a market cap of $41.75 billion, a PE ratio of 31.42, a P/E/G ratio of 2.67 and a beta of 1.16.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.02. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.68 EPS. Analysts expect that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. AMETEK’s payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In related news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the transaction, the insider now directly owns 30,460 shares in the company, valued at approximately $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,200 shares of company stock valued at $5,707,620 over the last quarter. 0.61% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. raised its stake in shares of AMETEK by 87.9% in the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares in the last quarter. Meridiem Investment Management Ltd. acquired a new stake in shares of AMETEK in the third quarter valued at $130,579,000. Principal Financial Group Inc. raised its stake in shares of AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares in the last quarter. Bryn Mawr Capital Management LLC raised its stake in shares of AMETEK by 10,506.5% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 476,442 shares of the technology company’s stock valued at $812,000 after acquiring an additional 471,950 shares in the last quarter. Finally, D1 Capital Partners L.P. acquired a new stake in shares of AMETEK in the third quarter valued at $79,782,000. 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.