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

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

A number of other equities analysts have also weighed in on AME. Mizuho lifted their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird upped their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK Stock Down 0.7 %

Shares of NYSE AME opened at $188.95 on Monday. The firm’s 50 day moving average price is $170.12 and its 200 day moving average price is $169.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The firm has a market cap of $43.71 billion, a P/E ratio of 32.92, a price-to-earnings-growth ratio of 2.94 and a beta of 1.16. AMETEK has a 1 year low of $146.52 and a 1 year high of $192.20.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the prior year, the business posted $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AMETEK will post 6.81 earnings per share for the current year.

Insider Transactions at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in AMETEK by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock valued at $1,195,478,000 after purchasing an additional 44,899 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in AMETEK by 34.6% during the second 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 in the last quarter. Boston Partners grew its position in AMETEK by 3.0% in the first quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock worth $560,278,000 after buying an additional 90,271 shares during the last quarter. Finally, Flossbach Von Storch AG increased its holdings in shares of AMETEK by 3.4% in the first quarter. Flossbach Von Storch AG now owns 2,673,507 shares of the technology company’s stock valued at $488,984,000 after buying an additional 87,477 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

About AMETEK

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.