AMETEK (NYSE:AME) Upgraded at StockNews.com

StockNews.com upgraded shares of AMETEK (NYSE:AME) from a hold rating to a buy rating in a research note released on Wednesday morning.

AME has been the subject of a number of other research reports. Robert W. Baird boosted their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Mizuho increased their target price on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Truist Financial raised their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. KeyCorp upped their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $199.29.

AMETEK Stock Down 1.1 %

AME stock opened at $191.51 on Wednesday. The firm has a market cap of $44.30 billion, a price-to-earnings ratio of 33.36, a PEG ratio of 3.17 and a beta of 1.15. AMETEK has a 1-year low of $149.03 and a 1-year high of $198.33. The firm has a fifty day moving average price of $180.92 and a two-hundred day moving average price of $172.33. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. Research analysts predict that AMETEK will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s dividend payout ratio is 19.51%.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction 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 in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,660 shares of company stock worth $5,958,141 over the last 90 days. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position in AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after buying an additional 24,072 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of AMETEK by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock valued at $924,308,000 after purchasing an additional 45,459 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after buying an additional 926,657 shares during the period. EdgePoint Investment Group Inc. raised its position in shares of AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of AMETEK by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock worth $313,777,000 after purchasing an additional 148,447 shares during the period. 87.43% of the stock is owned by institutional investors.

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.