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

AMETEK (NYSE:AME - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a note issued to investors on Thursday.

Other equities research analysts have also recently issued reports about the stock. Bank of America raised shares of AMETEK from a "neutral" rating to a "buy" rating and upped their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. Robert W. Baird decreased their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Truist Financial boosted their target price on AMETEK from $221.00 to $222.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Finally, BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $204.67.

AMETEK Stock Up 0.4 %

NYSE:AME traded up $0.58 during midday trading on Thursday, hitting $153.24. 2,616,554 shares of the company were exchanged, compared to its average volume of 1,255,672. 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 has a fifty-two week low of $145.53 and a fifty-two week high of $198.33. The company has a market capitalization of $35.36 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a fifty day simple moving average of $179.92 and a 200 day simple moving average of $180.82.

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AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. The company had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.82 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.68 earnings per share. As a group, equities analysts anticipate that AMETEK will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its board has approved 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 reacquire up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,320 shares of the 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 sale, the director now directly owns 22,029 shares of the company's stock, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas A. Amato sold 710 shares of the company's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the completion of the sale, the director now directly owns 10,560 shares in the company, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On AMETEK

Several hedge funds have recently bought and sold shares of the stock. Versant Capital Management Inc boosted its stake in shares of AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock worth $35,000 after purchasing an additional 187 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of AMETEK during the 4th quarter worth $37,000. AdvisorNet Financial Inc grew its position in shares of AMETEK by 1,176.5% in the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock valued at $39,000 after purchasing an additional 200 shares during the period. Geneos Wealth Management Inc. increased its stake in 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 purchasing an additional 70 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in AMETEK during the fourth quarter worth about $43,000. 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.