AMETEK (NYSE:AME – Free Report) had its price target increased by KeyCorp from $176.00 to $182.00 in a report published on Wednesday, Marketbeat.com reports. KeyCorp currently has an overweight rating on the technology company’s stock.
Other equities analysts also recently issued reports about the company. Royal Bank of Canada raised their price target on AMETEK from $183.00 to $186.00 and gave the company an outperform rating in a report on Wednesday, November 1st. StockNews.com upgraded AMETEK from a hold rating to a buy rating in a report on Wednesday, January 10th. Finally, TD Cowen downgraded AMETEK from an outperform rating to a market perform rating and reduced their price target for the company from $165.00 to $160.00 in a report on Monday, November 27th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK currently has an average rating of Moderate Buy and an average price target of $174.25.
AMETEK Stock Performance
AMETEK (NYSE:AME – Get Free Report) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.73 billion. AMETEK had a return on equity of 18.19% and a net margin of 19.68%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.52 earnings per share. As a group, research analysts expect that AMETEK will post 6.33 earnings per share for the current year.
Insider Buying and Selling
In other AMETEK news, Director Steven W. Kohlhagen sold 810 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $155.09, for a total value of $125,622.90. Following the transaction, the director now directly owns 29,454 shares of the company’s stock, valued at $4,568,020.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.72% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. bought a new stake in AMETEK in the 4th quarter worth approximately $25,000. Wetzel Investment Advisors Inc. purchased a new stake in shares of AMETEK during the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK during the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC acquired a new position in shares of AMETEK in the fourth quarter valued at about $28,000. Finally, Covestor Ltd increased its holdings in shares of AMETEK by 84.3% in the first quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after purchasing an additional 97 shares during the period. 85.70% of the stock is owned by hedge funds and other institutional investors.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.
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