AMETEK (NYSE:AME) Price Target Raised to $215.00 at KeyCorp

AMETEK (NYSE:AME) had its price target raised by investment analysts at KeyCorp from $205.00 to $215.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the technology company’s stock. KeyCorp’s price objective indicates a potential upside of 10.15% from the company’s current price.

A number of other research firms have also commented on AME. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Robert W. Baird boosted their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Finally, StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

AMETEK Stock Up 1.0 %

Shares of AME opened at $195.20 on Friday. The stock has a market capitalization of $45.15 billion, a price-to-earnings ratio of 34.01, a PEG ratio of 3.16 and a beta of 1.16. AMETEK has a 52 week low of $149.03 and a 52 week high of $196.70. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The stock has a fifty day moving average of $175.87 and a 200-day moving average of $170.49.

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, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the previous year, the business posted $1.64 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AMETEK will post 6.8 earnings per share for the current fiscal year.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 5.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Several hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. lifted 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 purchasing an additional 77 shares during the last quarter. Family Firm Inc. bought a new stake in AMETEK in the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. bought a new position in AMETEK during the second quarter worth about $42,000. Princeton Global Asset Management LLC purchased a new position in shares of AMETEK in the third quarter worth about $44,000. Finally, Anchor Investment Management LLC raised its position in shares of AMETEK by 366.1% in the third quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock valued at $45,000 after purchasing an additional 205 shares during the period. Institutional investors 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.