AMETEK, Inc. (NYSE:AME)’s share price hit a new 52-week high during trading on Thursday . The company traded as high as $97.30 and last traded at $96.81, with a volume of 86433 shares traded. The stock had previously closed at $96.37.
A number of brokerages have commented on AME. KeyCorp lifted their price target on AMETEK from $94.00 to $100.00 in a research note on Wednesday, July 31st. Wolfe Research set a $100.00 price target on AMETEK and gave the stock a “buy” rating in a research note on Friday, November 1st. Bank of America cut AMETEK from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $105.00 to $95.00 in a research note on Friday, October 11th. Oppenheimer lifted their price target on AMETEK from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada set a $95.00 price target on AMETEK and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. AMETEK has a consensus rating of “Buy” and a consensus price target of $97.62.
The stock has a market capitalization of $21.86 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.20. The stock has a 50-day moving average price of $89.96 and a two-hundred day moving average price of $87.73. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.48 and a current ratio of 2.05.
AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.28 billion. AMETEK had a return on equity of 20.04% and a net margin of 16.63%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. Equities analysts anticipate that AMETEK, Inc. will post 4.14 earnings per share for the current fiscal year.
In other news, Director Elizebeth R. Varet sold 3,000 shares of AMETEK stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $96.20, for a total value of $288,600.00. Following the sale, the director now directly owns 90,670 shares in the company, valued at approximately $8,722,454. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas C. Marecic sold 13,990 shares of AMETEK stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $95.02, for a total value of $1,329,329.80. Following the completion of the sale, the insider now owns 36,014 shares in the company, valued at $3,422,050.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,990 shares of company stock worth $1,960,690. Corporate insiders own 0.80% of the company’s stock.
Several hedge funds have recently modified their holdings of AME. Cetera Investment Advisers bought a new stake in shares of AMETEK during the third quarter valued at approximately $243,000. Rational Advisors LLC boosted its position in shares of AMETEK by 24.7% during the third quarter. Rational Advisors LLC now owns 20,792 shares of the technology company’s stock valued at $1,909,000 after purchasing an additional 4,121 shares in the last quarter. Corient Capital Partners LLC boosted its position in shares of AMETEK by 22.3% during the third quarter. Corient Capital Partners LLC now owns 2,926 shares of the technology company’s stock valued at $269,000 after purchasing an additional 534 shares in the last quarter. Focused Wealth Management Inc bought a new stake in shares of AMETEK during the third quarter valued at approximately $152,000. Finally, BBVA USA Bancshares Inc. bought a new stake in shares of AMETEK during the third quarter valued at approximately $375,000. Hedge funds and other institutional investors own 86.51% of the company’s stock.
AMETEK Company Profile (NYSE:AME)
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control instruments for the oil and gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage industries; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
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