AMETEK (NYSE:AME) Raised to “Buy” at StockNews.com

AMETEK (NYSE:AME) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

AME has been the topic of several other research reports. Truist Financial boosted their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. KeyCorp lifted their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Mizuho upped their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $199.29.

AMETEK Stock Performance

Shares of NYSE AME opened at $193.85 on Wednesday. The company has a market cap of $44.84 billion, a P/E ratio of 33.77, a P/E/G ratio of 3.17 and a beta of 1.15. AMETEK has a 52-week low of $149.03 and a 52-week high of $198.33. 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 firm’s fifty day moving average is $180.92 and its two-hundred day moving average is $172.33.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates 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 revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 earnings per share. As a group, analysts anticipate that AMETEK will post 6.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David F. Hermance sold 6,243 shares of the firm’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 transaction of $1,192,350.57. Following the transaction, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction that occurred on Tuesday, November 26th. The shares were 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 $5,967,114. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,660 shares of company stock worth $5,958,141 over the last quarter. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of AME. Itau Unibanco Holding S.A. grew 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 buying an additional 77 shares in the last quarter. Family Firm Inc. bought a new position in AMETEK during the 2nd quarter worth about $39,000. Industrial Alliance Investment Management Inc. purchased a new position in AMETEK during the 2nd quarter valued at about $42,000. Princeton Global Asset Management LLC bought a new stake in shares of AMETEK in the 3rd quarter valued at about $44,000. Finally, Anchor Investment Management LLC lifted its position in shares of AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after purchasing an additional 205 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

About AMETEK

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.