AMETEK Target of Unusually Large Options Trading (AME)

AMETEK, Inc. (NYSE:AME) was the recipient of unusually large options trading on Wednesday. Stock investors purchased 5,521 call options on the company. This is an increase of 1,710% compared to the average volume of 305 call options.

In other AMETEK news, insider John Wesley Hardin sold 29,955 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $81.55, for a total value of $2,442,830.25. Following the sale, the insider now directly owns 70,016 shares of the company’s stock, valued at approximately $5,709,804.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $77.26, for a total value of $231,780.00. Following the completion of the sale, the director now directly owns 104,810 shares in the company, valued at $8,097,620.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,925 shares of company stock worth $4,580,360. 2.10% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in AME. Point72 Asset Management L.P. raised its holdings in shares of AMETEK by 67.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 125,700 shares of the technology company’s stock valued at $9,071,000 after buying an additional 50,700 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of AMETEK by 9.9% during the 2nd quarter. Teacher Retirement System of Texas now owns 229,597 shares of the technology company’s stock valued at $16,568,000 after buying an additional 20,642 shares during the period. Dynamic Technology Lab Private Ltd raised its holdings in shares of AMETEK by 92.6% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 18,202 shares of the technology company’s stock valued at $1,313,000 after buying an additional 8,749 shares during the period. Verition Fund Management LLC raised its holdings in shares of AMETEK by 208.1% during the 2nd quarter. Verition Fund Management LLC now owns 25,291 shares of the technology company’s stock valued at $1,825,000 after buying an additional 17,082 shares during the period. Finally, Global X Management Co LLC raised its holdings in shares of AMETEK by 23.2% during the 2nd quarter. Global X Management Co LLC now owns 7,584 shares of the technology company’s stock valued at $547,000 after buying an additional 1,426 shares during the period. Institutional investors own 85.09% of the company’s stock.

AMETEK stock opened at $74.97 on Friday. The stock has a market capitalization of $17.33 billion, a PE ratio of 28.70, a PEG ratio of 2.08 and a beta of 1.30. The company has a current ratio of 2.06, a quick ratio of 1.42 and a debt-to-equity ratio of 0.41. AMETEK has a 12 month low of $64.91 and a 12 month high of $81.92.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.04. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.18 billion. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the business posted $0.66 EPS. On average, equities analysts forecast that AMETEK will post 3.27 earnings per share for the current fiscal year.

A number of brokerages have issued reports on AME. Cowen reissued a “buy” rating and issued a $85.00 price target on shares of AMETEK in a research note on Sunday, August 12th. BMO Capital Markets raised their price target on AMETEK from $92.00 to $93.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Bank of America raised their price target on AMETEK from $87.00 to $91.00 and gave the stock a “buy” rating in a research note on Wednesday, August 1st. Oppenheimer raised their price target on AMETEK from $85.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 1st. Finally, ValuEngine upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $87.00.

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AMETEK Company Profile

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. Its Electronic Instruments Group segment offers advanced instruments for the process, power and industrial, and aerospace markets; process and analytical instruments for the oil, gas, petrochemical, pharmaceutical, semiconductor, automation, and food and beverage markets; and instruments for the laboratory equipment, ultraprecision manufacturing, medical, and test and measurement markets.

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