AMETEK (NYSE:AME) Rating Increased to Buy at StockNews.com

AMETEK (NYSE:AME) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday.

A number of other research firms have also weighed in on AME. Truist Financial upped their target price on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday, January 16th. KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company 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 boosted their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. Robert W. Baird raised their price target on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Mizuho upped their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $203.44.

AMETEK Stock Performance

NYSE:AME opened at $182.59 on Tuesday. AMETEK has a 52 week low of $149.03 and a 52 week high of $198.33. The company has a fifty day simple moving average of $186.09 and a two-hundred day simple moving average of $176.20. 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 company has a market cap of $42.23 billion, a price-to-earnings ratio of 31.81, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16.

AMETEK (NYSE:AME) last issued 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%. AMETEK’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.64 EPS. As a group, equities analysts anticipate that AMETEK will post 6.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 value of $1,321,737.30. Following the sale, the insider now directly 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 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. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of AME. Public Sector Pension Investment Board increased its stake in AMETEK by 75.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,967 shares of the technology company’s stock valued at $1,495,000 after buying an additional 3,849 shares during the period. Marshall Wace LLP increased its stake in shares of AMETEK by 2,987.2% during the second quarter. Marshall Wace LLP now owns 33,959 shares of the technology company’s stock worth $5,661,000 after acquiring an additional 32,859 shares during the period. Squarepoint Ops LLC raised its holdings in AMETEK by 41.6% during the second quarter. Squarepoint Ops LLC now owns 24,744 shares of the technology company’s stock worth $4,125,000 after purchasing an additional 7,270 shares in the last quarter. AXA S.A. lifted its position in AMETEK by 358.6% in the second quarter. AXA S.A. now owns 13,184 shares of the technology company’s stock valued at $2,198,000 after purchasing an additional 10,309 shares during the period. Finally, Creative Planning lifted its position in AMETEK by 4.9% in the second quarter. Creative Planning now owns 23,946 shares of the technology company’s stock valued at $3,992,000 after purchasing an additional 1,121 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.