KeyCorp Forecasts Strong Price Appreciation for AMETEK (NYSE:AME) Stock

AMETEK (NYSE:AME) had its price objective lifted by equities researchers at KeyCorp from $205.00 to $215.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective indicates a potential upside of 8.93% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada dropped their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Mizuho boosted 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. Wolfe Research raised shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Finally, Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Stock Up 0.8 %

NYSE AME opened at $197.38 on Friday. The company has a market capitalization of $45.66 billion, a P/E ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. AMETEK has a 12 month low of $149.03 and a 12 month high of $197.83. 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 company’s 50 day simple moving average is $176.46 and its 200 day simple moving average is $170.71.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.64 EPS. Equities research analysts expect that AMETEK will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction 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 transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AMETEK

Hedge funds and other institutional investors have recently modified their holdings of the stock. Itau Unibanco Holding S.A. lifted its position in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after acquiring an additional 77 shares during the period. Family Firm Inc. bought a new stake in AMETEK in the 2nd quarter valued at $39,000. Industrial Alliance Investment Management Inc. acquired a new position in shares of AMETEK in the 2nd quarter valued at $42,000. Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the 3rd quarter worth about $44,000. Finally, Anchor Investment Management LLC boosted its position in shares of AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after acquiring an additional 205 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

AMETEK Company Profile

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.