AMETEK (NYSE:AME) Downgraded to “Hold” Rating by StockNews.com

by · The Markets Daily

AMETEK (NYSE:AME – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

AME has been the subject of several other research reports. Robert W. Baird lifted their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. KeyCorp lifted their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $202.50.

Get Our Latest Stock Analysis on AME

AMETEK Price Performance

Shares of AME opened at $178.33 on Wednesday. The firm’s 50-day simple moving average is $187.13 and its two-hundred day simple moving average is $174.33. AMETEK has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The stock has a market cap of $41.25 billion, a PE ratio of 31.07, a price-to-earnings-growth 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 (NYSE:AME – Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.64 EPS. Analysts anticipate that AMETEK will post 6.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % 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. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

A number of institutional investors have recently bought and sold shares of AME. Itau Unibanco Holding S.A. raised its stake in 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 during the period. Princeton Global Asset Management LLC purchased a new stake in shares of AMETEK in the third quarter worth $44,000. Anchor Investment Management LLC raised its position in shares of AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares during the period. Rothschild Investment LLC purchased a new position in shares of AMETEK during the 2nd quarter valued at $50,000. Finally, Quarry LP boosted its holdings in AMETEK by 226.1% in the 3rd quarter. Quarry LP now owns 300 shares of the technology company’s stock worth $52,000 after buying an additional 208 shares during the period. 87.43% of the stock is 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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