AMETEK (NYSE:AME) Raised to Buy at Bank of America

AMETEK (NYSE:AME - Get Free Report) was upgraded by investment analysts at Bank of America from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $225.00 price target on the technology company's stock, up from their prior price target of $195.00. Bank of America's price target points to a potential upside of 18.81% from the stock's previous close.

A number of other analysts have also commented on AME. TD Cowen lowered shares of AMETEK from a "hold" rating to a "sell" rating in a report on Monday, October 7th. Wolfe Research raised AMETEK to a "hold" rating in a research note on Wednesday, September 18th. Truist Financial increased their target price on AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a research note on Friday, November 1st. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird increased their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a "neutral" rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.50.

AMETEK Trading Up 1.1 %

NYSE:AME traded up $2.00 during trading hours on Monday, hitting $189.38. 1,123,401 shares of the stock were exchanged, compared to its average volume of 1,149,272. The company has a market capitalization of $43.81 billion, a P/E ratio of 32.64, a price-to-earnings-growth ratio of 3.08 and a beta of 1.15. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The company's 50 day moving average is $183.21 and its two-hundred day moving average is $173.12. AMETEK has a twelve month low of $149.03 and a twelve month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 earnings per share. On average, sell-side analysts anticipate that AMETEK will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the business's stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,660 shares of company stock valued at $5,958,141. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of AMETEK

A number of large investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. raised its stake in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company's stock valued at $34,000 after buying an additional 77 shares during the period. Family Firm Inc. bought a new position in AMETEK during the second quarter worth $39,000. Industrial Alliance Investment Management Inc. bought a new position in shares of AMETEK in the second quarter valued at about $42,000. Princeton Global Asset Management LLC acquired a new stake in shares of AMETEK during the 3rd quarter worth about $44,000. Finally, Anchor Investment Management LLC boosted its holdings in shares of AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company's stock worth $45,000 after buying an additional 205 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

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.