AMETEK (NYSE:AME) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of AMETEK (NYSE:AME) from a buy rating to a hold rating in a research note released on Friday morning.

A number of other research analysts also recently issued reports on the company. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Robert W. Baird upped their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Truist Financial lifted their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.86.

AMETEK Trading Down 0.3 %

AME stock traded down $0.65 during trading on Friday, hitting $193.10. 2,148,706 shares of the company traded hands, compared to its average volume of 1,155,791. 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 company has a 50-day moving average of $173.59 and a 200-day moving average of $169.82. The firm has a market capitalization of $44.67 billion, a PE ratio of 33.64, a P/E/G ratio of 3.19 and a beta of 1.16. AMETEK has a 1 year low of $149.03 and a 1 year high of $196.70.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating 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 analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts predict that AMETEK will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.58%. AMETEK’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In related news, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Institutional investors have recently bought and sold shares of the stock. Czech National Bank increased its holdings in shares of AMETEK by 8.6% in the second quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock worth $7,353,000 after purchasing an additional 3,499 shares during the last quarter. CWM LLC increased its holdings in shares of AMETEK by 53.9% during the second quarter. CWM LLC now owns 10,594 shares of the technology company’s stock valued at $1,766,000 after acquiring an additional 3,711 shares in the last quarter. Swedbank AB purchased a new position in shares of AMETEK in the 1st quarter valued at approximately $3,833,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in AMETEK by 129.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 9,470 shares of the technology company’s stock valued at $1,732,000 after purchasing an additional 5,349 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co raised its holdings in shares of AMETEK by 9.3% in the first quarter. CANADA LIFE ASSURANCE Co now owns 132,853 shares of the technology company’s stock worth $24,301,000 after buying an additional 11,327 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.