AMETEK (NYSE:AME) had its target price increased by research analysts at BMO Capital Markets from $88.00 to $90.00 in a research note issued on Friday. The firm currently has an “outperform” rating on the technology company’s stock. BMO Capital Markets’ price target would suggest a potential upside of 16.50% from the company’s previous close.
Other analysts have also issued research reports about the company. KeyCorp upped their target price on AMETEK from $82.00 to $86.00 and gave the company an “overweight” rating in a report on Friday. Royal Bank of Canada reissued a “buy” rating and issued a $70.00 target price on shares of AMETEK in a report on Friday, October 13th. Oppenheimer upped their target price on AMETEK to $75.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $92.00 target price on shares of AMETEK in a report on Thursday. Finally, Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Monday, November 13th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $78.83.
AMETEK (AME) traded down $0.66 during trading hours on Friday, reaching $77.25. The company’s stock had a trading volume of 1,949,820 shares, compared to its average volume of 1,060,000. The stock has a market capitalization of $17,850.00, a PE ratio of 26.28, a price-to-earnings-growth ratio of 2.22 and a beta of 1.31. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.59 and a quick ratio of 1.16. AMETEK has a 1 year low of $50.44 and a 1 year high of $78.51.
In related news, Director Elizebeth R. Varet sold 3,050 shares of the stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $71.83, for a total transaction of $219,081.50. Following the sale, the director now owns 117,930 shares of the company’s stock, valued at $8,470,911.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider David A. Zapico sold 25,965 shares of the stock in a transaction on Monday, December 11th. The shares were sold at an average price of $71.77, for a total value of $1,863,508.05. Following the sale, the insider now directly owns 200,548 shares in the company, valued at approximately $14,393,329.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,815 shares of company stock worth $2,209,220. Corporate insiders own 2.10% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Crossmark Global Holdings Inc. acquired a new stake in shares of AMETEK during the third quarter valued at $2,710,000. AMP Capital Investors Ltd boosted its stake in shares of AMETEK by 24.4% during the third quarter. AMP Capital Investors Ltd now owns 153,984 shares of the technology company’s stock valued at $10,171,000 after acquiring an additional 30,200 shares during the last quarter. Schroder Investment Management Group boosted its stake in shares of AMETEK by 289.1% during the third quarter. Schroder Investment Management Group now owns 81,971 shares of the technology company’s stock valued at $5,373,000 after acquiring an additional 60,906 shares during the last quarter. IFM Investors Pty Ltd purchased a new position in AMETEK during the third quarter worth about $509,000. Finally, Schaper Benz & Wise Investment Counsel Inc. WI lifted its position in AMETEK by 1.4% during the third quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 109,475 shares of the technology company’s stock worth $7,230,000 after buying an additional 1,500 shares during the period. 85.22% of the stock is currently owned by institutional investors and hedge funds.
AMETEK Company Profile
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
