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

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

A number of other equities research analysts also recently issued reports on AME. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird increased their target price on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday. Mizuho increased their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Truist Financial increased their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday. Finally, Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK Stock Up 0.8 %

AME stock traded up $1.49 during trading on Monday, reaching $179.92. The stock had a trading volume of 959,607 shares, compared to its average volume of 1,143,249. AMETEK has a one year low of $141.65 and a one year high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The company’s 50 day moving average is $169.41 and its two-hundred day moving average is $168.88. The company has a market capitalization of $41.66 billion, a price-to-earnings ratio of 31.34, a P/E/G ratio of 3.01 and a beta of 1.16.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the firm posted $1.64 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities research analysts forecast that AMETEK will post 6.76 EPS for the current year.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred 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 directly owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Institutional investors and hedge funds have recently bought and sold shares of the company. Washington Trust Advisors Inc. purchased a new stake in shares of AMETEK during the 1st quarter valued at $37,000. Family Firm Inc. purchased a new stake in shares of AMETEK during the 2nd quarter valued at $39,000. Headlands Technologies LLC purchased a new stake in shares of AMETEK during the 1st quarter valued at $43,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK during the 2nd quarter valued at $42,000. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of AMETEK during the 3rd quarter valued at $44,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.