StockNews.com Downgrades AMETEK (NYSE:AME) to Hold

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

A number of other research firms have also recently commented on AME. Mizuho lifted their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Robert W. Baird increased their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. Finally, Truist Financial increased their target price on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $202.50.

AMETEK Trading Down 0.3 %

Shares of NYSE AME opened at $180.26 on Wednesday. AMETEK has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The business’s 50 day moving average is $186.62 and its two-hundred day moving average is $174.26. The stock has a market capitalization of $41.70 billion, a P/E ratio of 31.40, a PEG ratio of 3.08 and a beta of 1.15.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The firm 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%. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS. As a group, research analysts expect that AMETEK will post 6.8 EPS for the current year.

Insider Buying and Selling

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the sale, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the sale, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock worth $5,707,620 in the last 90 days. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AMETEK

Large investors have recently bought and sold shares of the company. Oddo BHF Asset Management Sas purchased a new stake in AMETEK in the third quarter valued at $3,724,000. BNP Paribas Financial Markets lifted its holdings in shares of AMETEK by 23.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after buying an additional 67,025 shares during the period. Sawgrass Asset Management LLC boosted its stake in shares of AMETEK by 36.5% in the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock worth $12,837,000 after buying an additional 20,001 shares during the last quarter. Taurus Asset Management LLC grew its holdings in AMETEK by 2.9% during the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after acquiring an additional 3,210 shares during the period. Finally, Dudley & Shanley Inc. raised its position in AMETEK by 11.3% during the third quarter. Dudley & Shanley Inc. now owns 139,434 shares of the technology company’s stock valued at $23,942,000 after acquiring an additional 14,105 shares in the last quarter. Hedge funds and other institutional investors 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.