StockNews.com Downgrades AMETEK (NYSE:AME) to Hold

AMETEK (NYSE:AME) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other equities analysts have also commented on the company. Truist Financial boosted their price objective on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research note on Thursday. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Robert W. Baird raised their target price on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Mizuho raised their target price on AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, KeyCorp lifted 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.44.

AMETEK Stock Up 0.5 %

Shares of AME stock opened at $180.89 on Friday. AMETEK has a 12 month low of $149.03 and a 12 month high of $198.33. The firm has a market cap of $41.84 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16. The stock has a 50 day moving average of $187.54 and a 200-day moving average of $174.98. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion for 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.64 earnings per share. On average, equities analysts predict that AMETEK will post 6.8 EPS for the current year.

Insider Transactions at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction dated 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 represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,200 shares of company stock valued at $5,707,620. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in AME. MassMutual Private Wealth & Trust FSB raised its stake in shares of AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after purchasing an additional 63 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC boosted its holdings in shares of AMETEK by 3.8% in the third quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,764 shares of the technology company’s stock worth $298,000 after acquiring an additional 65 shares during the period. Miracle Mile Advisors LLC boosted its holdings in shares of AMETEK by 0.9% in the third quarter. Miracle Mile Advisors LLC now owns 7,178 shares of the technology company’s stock worth $1,233,000 after acquiring an additional 66 shares during the period. EP Wealth Advisors LLC boosted its stake in AMETEK by 1.1% during the second quarter. EP Wealth Advisors LLC now owns 6,330 shares of the technology company’s stock valued at $1,055,000 after buying an additional 71 shares during the period. Finally, Wallace Advisory Group LLC boosted its stake in AMETEK by 5.8% during the fourth quarter. Wallace Advisory Group LLC now owns 1,371 shares of the technology company’s stock valued at $235,000 after buying an additional 75 shares during the period. 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.