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

AMETEK (NYSE:AME) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

AME has been the topic of several other reports. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $195.00 to $225.00 in a research report on Monday. Truist Financial boosted their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, KeyCorp boosted their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $202.50.

AMETEK Price Performance

AME stock traded up $2.07 during mid-day trading on Monday, hitting $189.45. 1,122,445 shares of the stock were exchanged, compared to its average volume of 1,149,268. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The stock has a market capitalization of $43.82 billion, a price-to-earnings ratio of 33.01, a PEG ratio of 3.08 and a beta of 1.15. The business has a fifty day moving average price of $183.67 and a 200 day moving average price of $173.27. AMETEK has a 12 month low of $149.03 and a 12 month high of $198.33.

AMETEK (NYSE:AME) last posted its quarterly 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 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 the consensus estimate of $1.71 billion. During the same period in the previous year, the firm posted $1.64 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that AMETEK will post 6.8 EPS for the current year.

Insiders Place Their Bets

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 transaction of $1,321,737.30. Following the completion of the transaction, the insider now directly 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction that occurred on Friday, November 22nd. The stock was 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 in the company, 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. Insiders sold a total of 30,660 shares of company stock worth $5,958,141 over the last three months. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AME. State Street Corp raised its position in AMETEK by 0.3% in the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company’s stock worth $1,583,231,000 after purchasing an additional 24,072 shares during the period. Geode Capital Management LLC raised its holdings in shares of AMETEK by 0.8% in the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company’s stock worth $924,308,000 after buying an additional 45,459 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after acquiring an additional 926,657 shares during the last quarter. EdgePoint Investment Group Inc. boosted its holdings in AMETEK by 87.9% during the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after acquiring an additional 918,737 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in AMETEK by 8.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,882,166 shares of the technology company’s stock valued at $313,777,000 after acquiring an additional 148,447 shares during the period. 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.