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

AMETEK (NYSE:AME) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other equities research analysts have also recently issued reports on AME. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a research report on Thursday, January 16th. Robert W. Baird dropped their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. Finally, Truist Financial increased their price target on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Stock Performance

AME opened at $175.52 on Wednesday. The firm has a market cap of $40.50 billion, a P/E ratio of 29.60, a PEG ratio of 2.73 and a beta of 1.14. AMETEK has a 1-year low of $149.03 and a 1-year high of $198.33. The company has a 50 day simple moving average of $182.81 and a two-hundred day simple moving average of $180.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.82 billion. During the same quarter in the prior year, the business posted $1.68 EPS. AMETEK’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts forecast that AMETEK will post 7.15 earnings per share for the current fiscal year.

AMETEK declared that its Board of Directors has initiated a stock buyback plan on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to reacquire up to 2.9% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company’s stock, valued at $4,172,512.89. This trade represents a 5.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Hedge funds have recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of AMETEK by 4.5% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock valued at $261,000 after purchasing an additional 63 shares during the period. Kensington Investment Counsel LLC grew its position in shares of AMETEK by 0.5% during the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock worth $2,574,000 after buying an additional 66 shares in the last quarter. AlphaMark Advisors LLC increased its stake in shares of AMETEK by 2.1% during the fourth quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock valued at $604,000 after buying an additional 70 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after acquiring an additional 70 shares in the last quarter. Finally, Quotient Wealth Partners LLC lifted its stake in AMETEK by 3.9% in the fourth quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock worth $332,000 after acquiring an additional 70 shares during the period. 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.