ValuEngine upgraded shares of AMETEK (NYSE:AME) from a hold rating to a buy rating in a research report released on Tuesday morning.
AME has been the topic of a number of other research reports. BMO Capital Markets increased their price target on AMETEK from $92.00 to $93.00 and gave the company an outperform rating in a research note on Wednesday, August 1st. Morgan Stanley dropped their price target on AMETEK from $84.00 to $81.00 and set an equal weight rating on the stock in a research note on Monday. Oppenheimer increased their price target on AMETEK from $85.00 to $90.00 and gave the company an outperform rating in a research note on Wednesday, August 1st. Robert W. Baird increased their price target on AMETEK from $82.00 to $84.00 and gave the company an outperform rating in a research note on Friday, November 2nd. Finally, Cowen restated a buy rating and issued a $85.00 price target on shares of AMETEK in a research note on Sunday, August 12th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. AMETEK has an average rating of Buy and an average target price of $87.00.
Shares of AMETEK stock opened at $74.64 on Tuesday. AMETEK has a 12-month low of $64.91 and a 12-month high of $81.92. The company has a market cap of $16.84 billion, a PE ratio of 28.60, a P/E/G ratio of 2.03 and a beta of 1.30. The company has a current ratio of 2.06, a quick ratio of 1.42 and a debt-to-equity ratio of 0.41.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, November 1st. The technology company reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. The company had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts expect that AMETEK will post 3.27 earnings per share for the current fiscal year.
In other AMETEK news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $77.26, for a total value of $231,780.00. Following the transaction, the director now directly owns 104,810 shares of the company’s stock, valued at approximately $8,097,620.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider John Wesley Hardin sold 29,955 shares of the company’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $81.55, for a total value of $2,442,830.25. Following the completion of the transaction, the insider now directly owns 70,016 shares in the company, valued at $5,709,804.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,925 shares of company stock worth $4,580,360. Insiders own 2.00% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Fort L.P. acquired a new position in AMETEK in the 2nd quarter valued at $119,000. Signet Financial Management LLC acquired a new stake in shares of AMETEK during the 2nd quarter worth $124,000. ELM Advisors LLC acquired a new stake in shares of AMETEK during the 3rd quarter worth $142,000. Advisors Asset Management Inc. acquired a new stake in shares of AMETEK during the 2nd quarter worth $168,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of AMETEK during the 2nd quarter worth $195,000. 85.09% of the stock is currently owned by hedge funds and other institutional investors.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.
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