AMETEK (NYSE:AME) Downgraded by StockNews.com

StockNews.com lowered shares of AMETEK (NYSE:AMEGet Rating) from a buy rating to a hold rating in a report published on Thursday.

Several other analysts have also issued reports on AME. Loop Capital lowered their price target on shares of AMETEK from $170.00 to $155.00 and set a buy rating on the stock in a research report on Tuesday, July 19th. Bank of America lowered shares of AMETEK from a buy rating to a neutral rating and lowered their price target for the company from $170.00 to $122.00 in a research report on Monday, July 11th. Royal Bank of Canada reissued an outperform rating on shares of AMETEK in a research report on Wednesday, August 3rd. Morgan Stanley boosted their price target on shares of AMETEK from $135.00 to $145.00 and gave the company an overweight rating in a research report on Wednesday, August 3rd. Finally, DA Davidson boosted their price target on shares of AMETEK to $160.00 in a research report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, AMETEK presently has an average rating of Moderate Buy and an average target price of $148.56.

AMETEK Stock Performance

Shares of AME stock opened at $125.78 on Thursday. The firm has a market cap of $28.88 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.41 and a beta of 1.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.88 and a current ratio of 1.48. AMETEK has a 52 week low of $106.17 and a 52 week high of $148.07. The firm’s 50-day simple moving average is $120.45 and its two-hundred day simple moving average is $122.89.

AMETEK (NYSE:AMEGet Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The technology company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.29 by $0.09. The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.46 billion. AMETEK had a net margin of 18.49% and a return on equity of 18.20%. The company’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.15 earnings per share. As a group, equities analysts forecast that AMETEK will post 5.52 earnings per share for the current year.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Wednesday, September 14th will be paid a $0.22 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 0.70%. AMETEK’s dividend payout ratio is presently 18.72%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 3,100 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total value of $383,625.00. Following the completion of the transaction, the director now owns 42,864 shares of the company’s stock, valued at approximately $5,304,420. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Steven W. Kohlhagen sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $126.81, for a total value of $380,430.00. Following the completion of the sale, the director now owns 45,964 shares of the company’s stock, valued at approximately $5,828,694.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Kohlhagen sold 3,100 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $123.75, for a total transaction of $383,625.00. Following the completion of the sale, the director now directly owns 42,864 shares of the company’s stock, valued at approximately $5,304,420. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional Investors Weigh In On AMETEK

A number of institutional investors have recently made changes to their positions in the business. BancFirst Trust & Investment Management bought a new stake in AMETEK during the 2nd quarter valued at $794,000. Verition Fund Management LLC raised its holdings in AMETEK by 107.9% during the 2nd quarter. Verition Fund Management LLC now owns 88,529 shares of the technology company’s stock valued at $9,728,000 after buying an additional 45,954 shares during the last quarter. Captrust Financial Advisors raised its holdings in AMETEK by 46.3% during the 2nd quarter. Captrust Financial Advisors now owns 8,883 shares of the technology company’s stock valued at $976,000 after buying an additional 2,810 shares during the last quarter. ExodusPoint Capital Management LP raised its holdings in AMETEK by 186.3% during the 2nd quarter. ExodusPoint Capital Management LP now owns 171,876 shares of the technology company’s stock valued at $18,887,000 after buying an additional 111,849 shares during the last quarter. Finally, Walleye Capital LLC raised its holdings in AMETEK by 5.3% during the 2nd quarter. Walleye Capital LLC now owns 229,927 shares of the technology company’s stock valued at $25,267,000 after buying an additional 11,671 shares during the last quarter. Hedge funds and other institutional investors own 85.46% of the company’s stock.

About AMETEK

(Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

Read More

Analyst Recommendations for AMETEK (NYSE:AME)

Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.