AMETEK (NYSE:AME) Cut to “Hold” at StockNews.com

StockNews.com cut shares of AMETEK (NYSE:AME) from a buy rating to a hold rating in a research note published on Monday morning.

Other research analysts have also issued reports about the stock. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. KeyCorp upped their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Wolfe Research upgraded AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird upped their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Finally, Truist Financial lifted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, AMETEK presently has a consensus rating of “Moderate Buy” and a consensus target price of $202.50.

AMETEK Stock Down 3.2 %

AMETEK stock opened at $180.76 on Monday. The stock has a 50-day simple moving average of $184.30 and a 200-day simple moving average of $173.45. The company has a market capitalization of $41.81 billion, a P/E ratio of 31.49, 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 fifty-two week low of $149.03 and a fifty-two week high of $198.33.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during 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 company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.64 earnings per share. Equities research analysts expect that AMETEK will post 6.8 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. Stockholders of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. AMETEK’s dividend payout ratio is presently 19.51%.

Insider Activity at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of AMETEK 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 completion of the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock worth $5,958,141 over the last 90 days. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AME. Itau Unibanco Holding S.A. increased its stake 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 purchasing an additional 77 shares in the last quarter. Family Firm Inc. acquired a new stake in AMETEK during the 2nd quarter valued at $39,000. Industrial Alliance Investment Management Inc. purchased a new position in AMETEK during the second quarter worth $42,000. Princeton Global Asset Management LLC acquired a new position in shares of AMETEK in the third quarter worth $44,000. Finally, Anchor Investment Management LLC lifted its position in shares of AMETEK by 366.1% in the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after acquiring an additional 205 shares in the last quarter. Institutional investors and hedge funds 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.