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

by · The Cerbat Gem

StockNews.com upgraded shares of AMETEK (NYSE:AME – Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

A number of other research analysts have also recently commented on the company. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. 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 report on Monday, November 4th. Finally, Truist Financial upped their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $202.50.

Get Our Latest Stock Report on AME

AMETEK Stock Performance

Shares of AMETEK stock opened at $178.27 on Thursday. 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 business’s 50 day moving average price is $187.92 and its 200 day moving average price is $174.65. The company has a market cap of $41.24 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 3.08 and a beta of 1.16. AMETEK has a one year low of $149.03 and a one year high of $198.33.

AMETEK (NYSE:AME – Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company posted $1.64 EPS. The company’s revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that AMETEK will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The firm 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 yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insiders Place Their Bets

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock worth $5,707,620 over the last 90 days. 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 bought and sold shares of the business. Itau Unibanco Holding S.A. raised its position in shares of AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after acquiring an additional 77 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 187 shares in the last quarter. Princeton Global Asset Management LLC acquired a new stake in AMETEK during the 3rd quarter worth $44,000. Anchor Investment Management LLC lifted its position 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 acquiring an additional 205 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of AMETEK by 226.1% during the third quarter. Quarry LP now owns 300 shares of the technology company’s stock worth $52,000 after purchasing an additional 208 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Company Profile

(Get Free Report)

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.

Read More