StockNews.com Upgrades AMETEK (NYSE:AME) to Buy

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

A number of other equities analysts also recently weighed in on AME. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial boosted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised their target price on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday. Mizuho boosted their price target on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Stock Performance

Shares of AME stock opened at $182.02 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK has a 52 week low of $141.65 and a 52 week high of $186.32. The company’s 50 day moving average price is $169.69 and its two-hundred day moving average price is $168.91. The company has a market capitalization of $42.10 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 2.91 and a beta of 1.16.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. AMETEK’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share. On average, analysts expect that AMETEK will post 6.81 earnings per share for the current fiscal year.

Insider Transactions at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AMETEK

Institutional investors have recently added to or reduced their stakes in the stock. Czech National Bank increased its holdings in shares of AMETEK by 8.6% during the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after buying an additional 3,499 shares in the last quarter. Duality Advisers LP bought a new position in AMETEK in the first quarter valued at about $1,676,000. CWM LLC boosted its stake in shares of AMETEK by 53.9% during the second quarter. CWM LLC now owns 10,594 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 3,711 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of AMETEK by 3.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 258,677 shares of the technology company’s stock worth $47,312,000 after purchasing an additional 8,189 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of AMETEK in the first quarter valued at approximately $3,833,000. 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.