AMETEK (NYSE:AME) Upgraded at Bank of America

Bank of America upgraded shares of AMETEK (NYSE:AME) from a neutral rating to a buy rating in a report issued on Monday morning, MarketBeat.com reports. They currently have $225.00 price target on the technology company’s stock, up from their prior price target of $195.00.

AME has been the subject of a number of other research reports. Mizuho raised their price objective on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Truist Financial lifted their price target 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 increased their price objective on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $202.50.

AMETEK Trading Up 1.1 %

Shares of AMETEK stock opened at $189.45 on Monday. The company has a market cap of $43.82 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 3.08 and a beta of 1.15. AMETEK has a 1 year low of $149.03 and a 1 year high of $198.33. The company’s fifty day simple moving average is $183.67 and its 200-day simple moving average is $173.27. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $1.64 EPS. As a group, sell-side analysts expect that AMETEK will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.59%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Transactions at AMETEK

In related news, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This represents a 24.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,660 shares of company stock valued at $5,958,141. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of AME. Itau Unibanco Holding S.A. increased its stake in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock valued at $34,000 after buying an additional 77 shares during the period. Family Firm Inc. bought a new position in AMETEK in the second quarter valued at about $39,000. Industrial Alliance Investment Management Inc. acquired a new stake in AMETEK in the second quarter worth about $42,000. Princeton Global Asset Management LLC acquired a new stake in AMETEK in the third quarter worth about $44,000. Finally, Anchor Investment Management LLC raised its holdings in AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after purchasing an additional 205 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.