AMETEK (NYSE:AME) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of AMETEK (NYSE:AME) from a buy rating to a hold rating in a report published on Friday.

A number of other analysts also recently issued reports on AME. Truist Financial raised their price target on AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a report on Thursday. Mizuho increased their price objective on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Robert W. Baird boosted their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $203.44.

AMETEK Stock Performance

Shares of NYSE:AME opened at $180.74 on Friday. The firm has a fifty day simple moving average of $187.38 and a two-hundred day simple moving average of $175.02. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $41.81 billion, a P/E ratio of 31.49, a PEG ratio of 2.51 and a beta of 1.16. AMETEK has a 52 week low of $149.03 and a 52 week high of $198.33.

AMETEK (NYSE:AME) last issued its quarterly earnings data 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. The company 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%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.64 earnings per share. On average, analysts expect that AMETEK will post 6.8 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the 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 sale, the insider now owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the transaction, the insider now owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 29,200 shares of company stock valued at $5,707,620. Company insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

A number of institutional investors have recently modified their holdings of AME. Federated Hermes Inc. lifted its position in AMETEK by 8.8% during the second quarter. Federated Hermes Inc. now owns 1,177 shares of the technology company’s stock valued at $196,000 after acquiring an additional 95 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of AMETEK by 60.2% during the 2nd quarter. Renaissance Technologies LLC now owns 158,150 shares of the technology company’s stock valued at $26,365,000 after purchasing an additional 59,400 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of AMETEK by 24.9% in the 2nd quarter. Mutual of America Capital Management LLC now owns 37,812 shares of the technology company’s stock worth $6,304,000 after purchasing an additional 7,543 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in AMETEK by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 21,878 shares of the technology company’s stock worth $3,603,000 after buying an additional 2,396 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in AMETEK during the 2nd quarter valued at about $1,958,000. 87.43% of the stock is currently owned by 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.