AMETEK (NYSE:AME) Downgraded to “Hold” Rating by StockNews.com

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

A number of other research analysts have also recently commented on AME. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. Truist Financial raised their target price on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the company from $195.00 to $225.00 in a research report on Monday, December 16th. Finally, Robert W. Baird reduced their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.67.

AMETEK Stock Performance

Shares of NYSE:AME traded down $2.80 on Wednesday, reaching $176.90. 933,795 shares of the company’s stock were exchanged, compared to its average volume of 1,165,737. AMETEK has a twelve month low of $149.03 and a twelve month high of $198.33. The company has a fifty day moving average of $182.92 and a 200-day moving average of $180.80. The company has a market capitalization of $40.82 billion, a price-to-earnings ratio of 29.83, a PEG ratio of 2.73 and a beta of 1.14. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15.

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 for the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the business posted $1.68 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts predict that AMETEK will post 7.15 EPS for the current fiscal year.

AMETEK announced that its board has authorized a share repurchase program on Friday, February 7th that authorizes the company to buyback $1.25 billion in outstanding shares. This buyback authorization authorizes the technology company to buy up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the sale, 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Several large investors have recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its holdings in shares of AMETEK by 4.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 1,450 shares of the technology company’s stock worth $261,000 after purchasing an additional 63 shares during the last quarter. Kensington Investment Counsel LLC raised its holdings in AMETEK by 0.5% in the 4th quarter. Kensington Investment Counsel LLC now owns 14,277 shares of the technology company’s stock valued at $2,574,000 after buying an additional 66 shares during the last quarter. AlphaMark Advisors LLC boosted its position in AMETEK by 2.1% during the 4th quarter. AlphaMark Advisors LLC now owns 3,348 shares of the technology company’s stock worth $604,000 after buying an additional 70 shares during the period. Geneos Wealth Management Inc. grew its holdings in AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock worth $42,000 after acquiring an additional 70 shares during the last quarter. Finally, Quotient Wealth Partners LLC increased its position in AMETEK by 3.9% in the 4th quarter. Quotient Wealth Partners LLC now owns 1,843 shares of the technology company’s stock valued at $332,000 after acquiring an additional 70 shares during the period. 87.43% of the stock is currently owned by institutional investors.

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.