AMETEK (NYSE:AME) Raised to Outperform at BNP Paribas

AMETEK (NYSE:AME) was upgraded by equities researchers at BNP Paribas from a “neutral” rating to an “outperform” rating in a research report issued on Thursday,Briefing.com Automated Import reports. The firm presently has a $210.00 target price on the technology company’s stock. BNP Paribas’ price target indicates a potential upside of 16.65% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Robert W. Baird raised their price objective on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Mizuho upped their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their price objective for the company from $195.00 to $225.00 in a research note on Monday, December 16th. Finally, KeyCorp boosted their target price on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average price target of $203.33.

AMETEK Stock Performance

NYSE AME opened at $180.02 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The business’s 50 day moving average is $187.75 and its two-hundred day moving average is $174.94. The stock has a market capitalization of $41.64 billion, a price-to-earnings ratio of 31.36, a PEG ratio of 3.08 and a beta of 1.16. AMETEK has a 12-month low of $149.03 and a 12-month high of $198.33.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company posted $1.64 earnings per share. AMETEK’s quarterly revenue was up 5.3% on a year-over-year basis. Research analysts expect that AMETEK will post 6.8 EPS for the current year.

Insider Activity at AMETEK

In related news, insider Emanuela Speranza sold 6,747 shares of the company’s 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 transaction, the insider now owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock valued at $5,707,620 over the last quarter. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Hutchens & Kramer Investment Management Group LLC grew its position in shares of AMETEK by 3.8% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,764 shares of the technology company’s stock valued at $298,000 after purchasing an additional 65 shares during the period. Miracle Mile Advisors LLC boosted its stake in AMETEK by 0.9% in the 3rd quarter. Miracle Mile Advisors LLC now owns 7,178 shares of the technology company’s stock worth $1,233,000 after buying an additional 66 shares during the last quarter. EP Wealth Advisors LLC grew its holdings in AMETEK by 1.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 6,330 shares of the technology company’s stock valued at $1,055,000 after buying an additional 71 shares during the period. Wallace Advisory Group LLC increased its stake in shares of AMETEK by 5.8% during the 4th quarter. Wallace Advisory Group LLC now owns 1,371 shares of the technology company’s stock valued at $235,000 after acquiring an additional 75 shares during the last quarter. Finally, Itau Unibanco Holding S.A. lifted its holdings 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 during the period. 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.