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

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

AME has been the topic of a number of other reports. Truist Financial increased their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Robert W. Baird cut their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. BNP Paribas raised AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, January 16th. KeyCorp increased their price objective on AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and upped their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Trading Down 0.1 %

Shares of NYSE:AME opened at $188.76 on Friday. The business’s 50-day moving average is $182.97 and its 200 day moving average is $177.77. AMETEK has a 1 year low of $149.03 and a 1 year high of $198.33. The firm has a market capitalization of $43.66 billion, a P/E ratio of 31.83, a P/E/G ratio of 2.70 and a beta of 1.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.02. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.68 earnings per share. On average, research analysts predict that AMETEK will post 7.15 earnings per share for the current fiscal year.

AMETEK declared that its Board of Directors has approved a share repurchase plan on Friday, February 7th that permits the company to buyback $1.25 billion in shares. This buyback authorization permits the technology company to buy up to 2.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at AMETEK

In related news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the sale, the insider now owns 30,460 shares of the company’s stock, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AME. MassMutual Private Wealth & Trust FSB boosted its holdings in AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after purchasing an additional 63 shares during the period. Kensington Investment Counsel LLC increased its position in shares of AMETEK by 0.5% during the fourth quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after purchasing an additional 66 shares in the last quarter. AlphaMark Advisors LLC increased its position in shares of AMETEK by 2.1% during the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after purchasing an additional 70 shares in the last quarter. Geneos Wealth Management Inc. increased its position in AMETEK by 42.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after acquiring an additional 70 shares during the period. Finally, Quotient Wealth Partners LLC increased its position in AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock valued at $332,000 after acquiring an additional 70 shares during the period. 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.