AMETEK (NYSE:AME) Rating Lowered to “Hold” at StockNews.com

StockNews.com cut shares of AMETEK (NYSE:AME) from a buy rating to a hold rating in a research note issued to investors on Friday.

Several other analysts also recently issued reports on the stock. Robert W. Baird raised their price objective on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Truist Financial boosted their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $197.86.

AMETEK Trading Up 0.1 %

Shares of AMETEK stock opened at $193.24 on Friday. The company has a market capitalization of $44.70 billion, a P/E ratio of 33.67, a P/E/G ratio of 3.15 and a beta of 1.16. 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 fifty day moving average of $174.17 and a 200 day moving average of $169.97. AMETEK has a fifty-two week low of $149.03 and a fifty-two week high of $196.70.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS 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 the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 EPS. The business’s revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, December 6th will be paid a $0.28 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.58%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Insider Buying and Selling at AMETEK

In related news, 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 sale, the director now owns 23,349 shares in the company, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by insiders.

Institutional Investors Weigh In On AMETEK

A number of large investors have recently bought and sold shares of AME. EverSource Wealth Advisors LLC lifted its holdings in AMETEK by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after acquiring an additional 61 shares during the period. MorganRosel Wealth Management LLC lifted its holdings in AMETEK by 1.6% in the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after acquiring an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI lifted its holdings in AMETEK by 4.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after acquiring an additional 61 shares during the period. First Horizon Advisors Inc. lifted its holdings in AMETEK by 2.4% in the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after acquiring an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC lifted its holdings in AMETEK by 2.9% in the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after acquiring an additional 63 shares during the period. Hedge funds and other institutional investors 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.