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

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

Other equities research analysts have also recently issued reports about the company. Truist Financial increased their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. KeyCorp lifted their target price 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. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Mizuho boosted their price target on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and an average price target of $202.50.

AMETEK Trading Down 0.2 %

AME opened at $178.27 on Thursday. AMETEK has a 12 month low of $149.03 and a 12 month high of $198.33. The stock has a fifty day moving average price of $187.92 and a 200-day moving average price of $174.65. The firm has a market cap of $41.24 billion, a price-to-earnings ratio of 31.06, a PEG ratio of 3.08 and a beta of 1.16. 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 released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion during 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 company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.64 earnings per share. As a group, equities research analysts anticipate that AMETEK will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Buying and Selling at AMETEK

In other 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 transaction of $1,321,737.30. Following the transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This trade represents a 18.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tony J. Ciampitti sold 16,210 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was 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 of the company’s stock, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 Trading of AMETEK

A number of institutional investors and hedge funds have recently modified their holdings of AME. Fulton Bank N.A. boosted its holdings in AMETEK by 3.9% in the 4th quarter. Fulton Bank N.A. now owns 3,199 shares of the technology company’s stock worth $577,000 after buying an additional 121 shares during the last quarter. Canandaigua National Bank & Trust Co. increased its position in shares of AMETEK by 5.0% during the fourth quarter. Canandaigua National Bank & Trust Co. now owns 3,343 shares of the technology company’s stock worth $603,000 after purchasing an additional 160 shares in the last quarter. Legacy Wealth Management LLC MS raised its stake in AMETEK by 4.2% in the 4th quarter. Legacy Wealth Management LLC MS now owns 2,974 shares of the technology company’s stock valued at $536,000 after purchasing an additional 120 shares during the last quarter. Nordea Investment Management AB lifted its holdings in AMETEK by 9.3% in the 4th quarter. Nordea Investment Management AB now owns 28,330 shares of the technology company’s stock valued at $5,129,000 after purchasing an additional 2,406 shares in the last quarter. Finally, Everence Capital Management Inc. acquired a new stake in AMETEK during the 4th quarter worth $999,000. 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.