AMETEK (NYSE:AME) Upgraded 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 note issued to investors on Wednesday, MarketBeat Ratings reports. The firm currently has a $200.00 price objective on the technology company’s stock. Oppenheimer’s target price points to a potential upside of 15.79% from the company’s current price.

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

AMETEK Price Performance

AME stock opened at $172.72 on Wednesday. AMETEK has a 12-month low of $136.89 and a 12-month high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The company’s fifty day simple moving average is $176.62 and its 200 day simple moving average is $168.72. The firm 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.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.59 by $0.05. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $1.49 EPS. On average, analysts expect that AMETEK will post 6.83 earnings per share for the current year.

Insider Transactions at AMETEK

In related news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total value of $1,277,453.58. Following the transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the transaction, the vice president now owns 21,543 shares in the company, valued at $3,993,641.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the transaction, the director now owns 28,054 shares of the company’s stock, valued at approximately $5,066,271.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,941 shares of company stock worth $6,992,804. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several hedge funds have recently added to or reduced their stakes in AME. Norges Bank bought a new position in AMETEK in the 4th quarter valued at approximately $589,098,000. JPMorgan Chase & Co. raised its position in AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after buying an additional 2,306,535 shares during the last quarter. Morgan Stanley lifted its stake in AMETEK by 19.2% during the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock valued at $618,983,000 after acquiring an additional 674,549 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in shares of AMETEK by 4,845.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 677,075 shares of the technology company’s stock valued at $111,643,000 after acquiring an additional 663,385 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of AMETEK during the third quarter valued at approximately $90,248,000. 87.43% of the stock is owned by institutional investors.

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.