AMETEK (NYSE:AME) Lowered to Hold Rating by StockNews.com

StockNews.com lowered shares of AMETEK (NYSE:AME) from a buy rating to a hold rating in a research report released on Friday.

Several other brokerages have also weighed in on AME. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial upped their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised their price objective on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Mizuho lifted 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Trading Down 0.3 %

AME traded down $0.65 during trading on Friday, reaching $193.10. 2,148,706 shares of the stock traded hands, compared to its average volume of 1,155,791. The stock’s 50-day moving average is $173.59 and its 200 day moving average is $169.82. AMETEK has a 12 month low of $149.03 and a 12 month high of $196.70. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $44.67 billion, a PE ratio of 33.64, a P/E/G ratio of 3.19 and a beta of 1.16.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.64 earnings per share. Equities analysts anticipate that AMETEK will post 6.81 earnings per share for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Several hedge funds have recently bought and sold shares of the company. Itau Unibanco Holding S.A. raised its stake in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after purchasing an additional 77 shares in the last quarter. Family Firm Inc. purchased a new stake in AMETEK during the second quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new stake in AMETEK during the second quarter worth about $42,000. Headlands Technologies LLC purchased a new position in shares of AMETEK in the 1st quarter worth about $43,000. Finally, Princeton Global Asset Management LLC purchased a new position in shares of AMETEK during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.