AMETEK (NYSE:AME) Upgraded by BNP Paribas to "Outperform" Rating

AMETEK (NYSE:AME - Get Free Report) was upgraded by equities researchers at BNP Paribas from a "neutral" rating to an "outperform" rating in a research report issued on Thursday, Marketbeat.com reports. The brokerage presently has a $210.00 price target on the technology company's stock. BNP Paribas' price objective points to a potential upside of 16.09% from the stock's previous close.

AME has been the topic of several other research reports. Mizuho upped their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Robert W. Baird raised their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a "neutral" rating in a report on Monday, November 4th. Truist Financial upped their price objective on AMETEK from $219.00 to $221.00 and gave the stock a "buy" rating in a report on Friday, November 1st. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research note on Thursday, January 9th. Finally, Wolfe Research raised AMETEK to a "hold" rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $203.44.

AMETEK Price Performance

AMETEK stock traded up $0.83 during trading hours on Thursday, hitting $180.89. 1,330,857 shares of the stock were exchanged, compared to its average volume of 913,484. AMETEK has a 12 month low of $149.03 and a 12 month high of $198.33. The business's 50-day moving average is $187.75 and its two-hundred day moving average is $174.94. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a market capitalization of $41.84 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.51 and a beta of 1.16.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period in the prior year, the company earned $1.64 EPS. AMETEK's revenue for the quarter was up 5.3% on a year-over-year basis. Equities research analysts expect that AMETEK will post 6.8 EPS for the current fiscal year.

Insider Transactions at AMETEK

In other news, insider David F. Hermance sold 6,243 shares of the firm's stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now owns 36,731 shares of the company's stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of the business's stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares of the company's stock, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock valued at $5,707,620 over the last three months. 0.61% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in AMETEK by 0.3% during the 3rd quarter. State Street Corp now owns 9,220,376 shares of the technology company's stock worth $1,583,231,000 after purchasing an additional 24,072 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of AMETEK by 3.7% during the third quarter. JPMorgan Chase & Co. now owns 6,985,350 shares of the technology company's stock worth $1,199,454,000 after buying an additional 250,538 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of AMETEK by 0.8% during the third quarter. Geode Capital Management LLC now owns 5,401,656 shares of the technology company's stock worth $924,308,000 after buying an additional 45,459 shares in the last quarter. EdgePoint Investment Group Inc. lifted its stake in AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company's stock valued at $337,279,000 after acquiring an additional 918,737 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company's stock worth $288,526,000 after acquiring an additional 703,501 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.