AMETEK (NYSE:AME) Upgraded 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 report released on Tuesday.

Other equities analysts have also issued reports about the company. Truist Financial upped their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Mizuho increased their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Robert W. Baird boosted their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Finally, KeyCorp increased their target price on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $202.50.

Check Out Our Latest Stock Report on AMETEK

AMETEK Stock Performance

Shares of NYSE:AME opened at $183.72 on Tuesday. The business’s 50-day simple moving average is $185.90 and its 200 day simple moving average is $174.04. The company has a market cap of $42.50 billion, a P/E ratio of 32.01, a PEG ratio of 3.08 and a beta of 1.15. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK has a one year low of $149.03 and a one year high of $198.33.

AMETEK (NYSE:AME – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. 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 posted $1.64 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts forecast that AMETEK will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio is presently 19.51%.

Insiders Place Their Bets

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the company’s 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 transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the transaction, the insider now directly owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % 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 ninety days. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMETEK

Large investors have recently bought and sold shares of the business. State Street Corp lifted its stake in shares of AMETEK by 0.3% in the third quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after buying an additional 24,072 shares during the last quarter. JPMorgan Chase & Co. lifted its position in AMETEK by 3.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company’s stock worth $1,199,454,000 after acquiring an additional 250,538 shares during the last quarter. Geode Capital Management LLC boosted its holdings in AMETEK by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after acquiring an additional 45,459 shares during the period. EdgePoint Investment Group Inc. boosted its holdings in AMETEK by 87.9% during 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 during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of AMETEK by 8.6% in the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock valued at $313,777,000 after purchasing an additional 148,447 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

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.

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