AMETEK (AME) Raised to “Buy” at ValuEngine
ValuEngine upgraded shares of AMETEK (NYSE:AME) from a hold rating to a buy rating in a research note published on Tuesday morning.
A number of other research firms have also recently commented on AME. Morgan Stanley lowered their target price on AMETEK from $84.00 to $81.00 and set an equal weight rating on the stock in a research note on Monday, November 5th. Robert W. Baird lifted their target price on AMETEK from $82.00 to $84.00 and gave the stock an outperform rating in a research note on Friday, November 2nd. BMO Capital Markets lowered their target price on AMETEK from $93.00 to $91.00 and set an outperform rating on the stock in a research note on Friday, November 2nd. Cowen reiterated a buy rating and set a $85.00 target price on shares of AMETEK in a research note on Sunday, August 12th. Finally, Oppenheimer lifted their target price on AMETEK from $85.00 to $90.00 and gave the stock an outperform rating in a research note on Wednesday, August 1st. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $87.00.
NYSE:AME traded down $0.52 during trading hours on Tuesday, hitting $74.45. 1,556,795 shares of the company traded hands, compared to its average volume of 1,900,778. 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 has a one year low of $64.91 and a one year high of $81.92. The stock has a market cap of $17.46 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30.
In other news, insider John Wesley Hardin sold 29,955 shares of AMETEK stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $81.55, for a total transaction of $2,442,830.25. Following the sale, the insider now directly owns 70,016 shares in the company, valued at approximately $5,709,804.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gretchen W. Mcclain sold 3,870 shares of AMETEK stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $80.00, for a total value of $309,600.00. Following the sale, the director now owns 8,018 shares in the company, valued at $641,440. The disclosure for this sale can be found here. Insiders have sold a total of 56,925 shares of company stock worth $4,580,360 over the last quarter. Company insiders own 2.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in AME. Fort L.P. bought a new stake in AMETEK in the 2nd quarter valued at about $119,000. Signet Financial Management LLC bought a new stake in AMETEK in the 2nd quarter valued at about $124,000. ELM Advisors LLC bought a new stake in AMETEK in the 3rd quarter valued at about $142,000. Advisors Asset Management Inc. bought a new stake in AMETEK in the 2nd quarter valued at about $168,000. Finally, Piedmont Investment Advisors LLC bought a new stake in AMETEK in the 2nd quarter valued at about $195,000. Institutional investors and hedge funds own 85.09% of the company’s stock.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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