AME has been the topic of several other reports. Bank of America cut shares of AMETEK from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $122.00 in a research report on Monday, July 11th. Loop Capital dropped their price objective on shares of AMETEK from $170.00 to $155.00 and set a “buy” rating for the company in a report on Tuesday, July 19th. Royal Bank of Canada reissued an “outperform” rating on shares of AMETEK in a research note on Wednesday, August 3rd. Mizuho lifted their price target on AMETEK from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Finally, DA Davidson increased their price objective on AMETEK to $160.00 in a research report on Tuesday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.56.
AMETEK Stock Performance
AMETEK stock opened at $121.44 on Friday. The firm’s 50 day simple moving average is $121.21 and its 200 day simple moving average is $122.84. The company has a current ratio of 1.48, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31. AMETEK has a 1-year low of $106.17 and a 1-year high of $148.07. The firm has a market capitalization of $27.88 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 2.39 and a beta of 1.26.
Insiders Place Their Bets
In other news, Director Steven W. Kohlhagen sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total value of $380,430.00. Following the transaction, the director now owns 45,964 shares in the company, valued at $5,828,694.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $123.75, for a total transaction of $383,625.00. Following the transaction, the director now owns 42,864 shares in the company, valued at approximately $5,304,420. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven W. Kohlhagen sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $126.81, for a total value of $380,430.00. Following the completion of the sale, the director now owns 45,964 shares of the company’s stock, valued at approximately $5,828,694.84. The disclosure for this sale can be found here. Insiders own 0.72% of the company’s stock.
Hedge Funds Weigh In On AMETEK
Several hedge funds have recently made changes to their positions in the business. Gryphon Financial Partners LLC purchased a new position in AMETEK during the 1st quarter valued at $25,000. Quent Capital LLC raised its stake in AMETEK by 177.8% in the first quarter. Quent Capital LLC now owns 200 shares of the technology company’s stock worth $27,000 after buying an additional 128 shares in the last quarter. Covestor Ltd lifted its holdings in AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after buying an additional 97 shares during the period. Prospera Financial Services Inc bought a new stake in AMETEK during the 1st quarter valued at approximately $29,000. Finally, Intelligent Financial Strategies bought a new stake in AMETEK during the 4th quarter valued at approximately $35,000. 85.46% of the stock is owned by hedge funds and other institutional investors.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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