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

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

Several other brokerages have also issued reports on AME. Truist Financial decreased their price objective on AMETEK from $210.00 to $204.00 and set a “buy” rating for the company in a research report on Tuesday, July 2nd. Robert W. Baird lowered their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Finally, Oppenheimer raised shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $181.20.

AMETEK Trading Down 0.2 %

Shares of AME stock traded down $0.39 on Monday, reaching $171.88. The company had a trading volume of 882,767 shares, compared to its average volume of 1,050,927. The stock has a market cap of $39.79 billion, a PE ratio of 30.21, a PEG ratio of 2.77 and a beta of 1.18. The company has a 50-day moving average of $169.52 and a 200-day moving average of $172.60. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the firm posted $1.49 earnings per share. On average, equities analysts forecast that AMETEK will post 6.81 earnings per share for the current year.

Insider Activity

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

Hedge Funds Weigh In On AMETEK

Institutional investors and hedge funds have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. bought a new stake in AMETEK in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new stake in AMETEK during the fourth quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new position in AMETEK during the 4th quarter worth $26,000. Rakuten Securities Inc. acquired a new position in AMETEK in the 4th quarter valued at $31,000. Finally, Washington Trust Advisors Inc. acquired a new position in AMETEK in the 1st quarter valued at $37,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.