AMETEK (NYSE:AME) Rating Increased to Outperform at Oppenheimer

AMETEK (NYSE:AME) was upgraded by equities researchers at Oppenheimer from a “market perform” rating to an “outperform” rating in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage currently has a $200.00 price target on the technology company’s stock. Oppenheimer’s target price would indicate a potential upside of 15.79% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the stock. Royal Bank of Canada lowered their target price on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a report on Wednesday, February 7th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Robert W. Baird dropped their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Truist Financial started coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective on the stock. Finally, KeyCorp increased their price target on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $181.64.

AMETEK Stock Down 0.8 %

Shares of NYSE AME opened at $172.72 on Wednesday. The stock has a 50-day moving average price of $176.62 and a two-hundred day moving average price of $168.72. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32. The company has a market cap of $39.98 billion, a price-to-earnings ratio of 30.36, a PEG ratio of 2.71 and a beta of 1.21. The company has a current ratio of 1.11, a quick ratio of 0.66 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the business earned $1.49 earnings per share. The business’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, analysts forecast that AMETEK will post 6.83 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO William Joseph Burke sold 27,400 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the completion of the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at approximately $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The disclosure for this sale can be found here. Insiders have sold a total of 37,941 shares of company stock worth $6,992,804 over the last 90 days. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AMETEK

Several institutional investors have recently added to or reduced their stakes in AME. Vanguard Group Inc. increased its holdings in shares of AMETEK by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 25,578,270 shares of the technology company’s stock worth $4,217,601,000 after buying an additional 84,832 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of AMETEK by 48.4% during the first quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of AMETEK by 0.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after acquiring an additional 44,899 shares during the period. Capital International Investors lifted its holdings in shares of AMETEK by 5.0% in the 4th quarter. Capital International Investors now owns 4,196,755 shares of the technology company’s stock worth $692,051,000 after buying an additional 198,777 shares during the period. Finally, Morgan Stanley grew its position in shares of AMETEK by 19.2% during the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock worth $618,983,000 after buying an additional 674,549 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.