AMETEK (NYSE:AME) Hits New 1-Year High Following Analyst Upgrade

AMETEK, Inc. (NYSE:AME)’s share price reached a new 52-week high during trading on Friday after KeyCorp raised their price target on the stock from $205.00 to $215.00. KeyCorp currently has an overweight rating on the stock. AMETEK traded as high as $197.41 and last traded at $196.81, with a volume of 112024 shares. The stock had previously closed at $195.76.

Other equities analysts have also recently issued reports about the company. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Mizuho boosted their price objective on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Royal Bank of Canada reduced their price target on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Robert W. Baird raised their price target on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $199.29.

Insiders Place Their Bets

In related news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AME. EverSource Wealth Advisors LLC increased its stake in AMETEK by 7.3% in the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after buying an additional 61 shares in the last quarter. MorganRosel Wealth Management LLC grew its holdings in AMETEK by 1.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after buying an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI raised its position in shares of AMETEK by 4.8% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after buying an additional 61 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of AMETEK by 2.4% in the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after buying an additional 62 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its position in shares of AMETEK by 2.9% during the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after acquiring an additional 63 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Stock Up 0.8 %

The company has a market capitalization of $45.66 billion, a PE ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. 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 $176.46 and its two-hundred day moving average is $170.71.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04. The company 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%. AMETEK’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.64 EPS. On average, analysts anticipate that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK’s payout ratio is 19.51%.

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.