AMETEK, Inc. (NYSE:AME) Director Gretchen W. Mcclain sold 1,060 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $98.43, for a total value of $104,335.80. Following the completion of the transaction, the director now directly owns 9,901 shares in the company, valued at $974,555.43. The sale was disclosed in a filing with the SEC, which is available through this link.
AME stock traded down $0.67 during midday trading on Tuesday, reaching $96.87. The company had a trading volume of 1,231,715 shares, compared to its average volume of 1,186,482. AMETEK, Inc. has a 1-year low of $63.14 and a 1-year high of $99.74. The stock has a 50 day moving average price of $94.33 and a 200-day moving average price of $89.17. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.05 and a quick ratio of 1.48. The company has a market capitalization of $22.63 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 2.19 and a beta of 1.23.
AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. AMETEK had a net margin of 16.63% and a return on equity of 20.04%. The firm had revenue of $1.28 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the company posted $0.91 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, research analysts anticipate that AMETEK, Inc. will post 4.14 earnings per share for the current year.
AME has been the subject of a number of research reports. KeyCorp lifted their target price on AMETEK from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Bank of America downgraded shares of AMETEK from a “buy” rating to a “neutral” rating and decreased their price target for the company from $105.00 to $95.00 in a research note on Friday, October 11th. Rosenblatt Securities started coverage on shares of AMETEK in a research report on Thursday, November 7th. They set a “buy” rating and a $115.00 price target on the stock. Morgan Stanley set a $102.00 price target on shares of AMETEK and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Wolfe Research set a $100.00 price objective on shares of AMETEK and gave the company a “buy” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. AMETEK currently has a consensus rating of “Buy” and a consensus target price of $100.29.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC grew its position in AMETEK by 807.9% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,423,064 shares of the technology company’s stock worth $129,271,000 after purchasing an additional 1,266,329 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt acquired a new position in AMETEK in the third quarter valued at approximately $76,899,000. JPMorgan Chase & Co. boosted its stake in AMETEK by 18.1% in the second quarter. JPMorgan Chase & Co. now owns 4,896,915 shares of the technology company’s stock valued at $432,202,000 after acquiring an additional 749,865 shares during the period. UBS Group AG grew its holdings in shares of AMETEK by 417.2% during the second quarter. UBS Group AG now owns 681,116 shares of the technology company’s stock valued at $61,872,000 after purchasing an additional 549,417 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of AMETEK by 34.3% during the second quarter. Invesco Ltd. now owns 1,579,503 shares of the technology company’s stock valued at $143,482,000 after purchasing an additional 403,704 shares during the last quarter. Institutional investors and hedge funds own 86.26% of the company’s stock.
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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