AMETEK (NYSE:AME) Upgraded to Buy by StockNews.com

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

A number of other brokerages have also recently commented on AME. Truist Financial decreased their price target on AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday, July 2nd. Robert W. Baird cut their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Finally, Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.20.

AMETEK Trading Down 0.2 %

Shares of AMETEK stock traded down $0.39 during trading on Monday, reaching $171.88. The company’s stock had a trading volume of 882,767 shares, compared to its average volume of 1,050,927. The company has a market cap of $39.79 billion, a price-to-earnings ratio of 30.21, a PEG ratio of 2.77 and a beta of 1.18. The firm’s 50-day moving average is $169.52 and its two-hundred day moving average is $172.60. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. The business had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company’s revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.49 earnings per share. On average, sell-side analysts anticipate that AMETEK will post 6.81 earnings per share for the current year.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the sale, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the transaction, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. purchased a new position in shares of AMETEK during the fourth quarter valued at approximately $25,000. Caprock Group LLC increased its position in shares of AMETEK by 3.6% during the 4th quarter. Caprock Group LLC now owns 3,038 shares of the technology company’s stock valued at $501,000 after purchasing an additional 106 shares during the last quarter. apricus wealth LLC bought a new position in shares of AMETEK in the 4th quarter worth approximately $349,000. Prio Wealth Limited Partnership bought a new stake in AMETEK during the fourth quarter valued at approximately $209,000. Finally, Carderock Capital Management Inc. increased its holdings in AMETEK by 14.0% during the fourth quarter. Carderock Capital Management Inc. now owns 48,946 shares of the technology company’s stock valued at $8,071,000 after buying an additional 6,004 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

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.