AMETEK (NYSE:AME) Stock Rating Upgraded by BNP Paribas

AMETEK (NYSE:AME) was upgraded by stock analysts at BNP Paribas from a “neutral” rating to an “outperform” rating in a note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $210.00 target price on the technology company’s stock. BNP Paribas’ price target indicates a potential upside of 16.19% from the company’s current price.

A number of other equities analysts have also weighed in on AME. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Truist Financial increased their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a 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. Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. Finally, KeyCorp raised their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $203.44.

AMETEK Trading Down 0.1 %

Shares of AME stock opened at $180.74 on Thursday. 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 has a 1-year low of $149.03 and a 1-year high of $198.33. The stock has a market capitalization of $41.81 billion, a PE ratio of 31.49, a P/E/G ratio of 2.51 and a beta of 1.16. The business has a 50-day moving average of $187.38 and a 200 day moving average of $175.02.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $1.71 billion. During the same period in the prior year, the business earned $1.64 EPS. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts anticipate that AMETEK will post 6.8 earnings per share for the current year.

Insider Transactions at AMETEK

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

Hedge Funds Weigh In On AMETEK

Hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. grew its stake in AMETEK by 8.8% during the second quarter. Federated Hermes Inc. now owns 1,177 shares of the technology company’s stock valued at $196,000 after acquiring an additional 95 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of AMETEK by 4.6% during the second quarter. Envestnet Asset Management Inc. now owns 346,275 shares of the technology company’s stock valued at $57,727,000 after purchasing an additional 15,276 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of AMETEK by 7.5% in the second quarter. Citizens Financial Group Inc. RI now owns 3,182 shares of the technology company’s stock worth $530,000 after purchasing an additional 221 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of AMETEK by 60.2% in the second quarter. Renaissance Technologies LLC now owns 158,150 shares of the technology company’s stock worth $26,365,000 after buying an additional 59,400 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its holdings in AMETEK by 24.9% during the 2nd quarter. Mutual of America Capital Management LLC now owns 37,812 shares of the technology company’s stock valued at $6,304,000 after buying an additional 7,543 shares in the last quarter. Hedge funds and other institutional investors 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.