Thomas A. Amato Buys 2,000 Shares of AMETEK, Inc. (AME) Stock
AMETEK, Inc. (NYSE:AME) Director Thomas A. Amato purchased 2,000 shares of the business’s stock in a transaction on Monday, November 12th. The shares were purchased at an average price of $73.14 per share, with a total value of $146,280.00. Following the completion of the purchase, the director now owns 7,510 shares in the company, valued at $549,281.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of AME stock traded up $0.07 during trading hours on Tuesday, reaching $72.81. 1,465,756 shares of the company traded hands, compared to its average volume of 1,906,201. AMETEK, Inc. has a 12-month low of $64.91 and a 12-month high of $81.92. The company has a quick ratio of 1.42, a current ratio of 2.06 and a debt-to-equity ratio of 0.41. The stock has a market cap of $17.28 billion, a P/E ratio of 27.90, a PEG ratio of 2.08 and a beta of 1.30.
AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, November 1st. The technology company reported $0.82 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.04. AMETEK had a return on equity of 17.08% and a net margin of 17.06%. The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the previous year, the firm earned $0.66 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. On average, equities research analysts expect that AMETEK, Inc. will post 3.27 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in AMETEK by 1.0% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 73,586 shares of the technology company’s stock worth $5,310,000 after purchasing an additional 702 shares in the last quarter. BB&T Securities LLC lifted its holdings in AMETEK by 10.9% in the 2nd quarter. BB&T Securities LLC now owns 7,908 shares of the technology company’s stock worth $570,000 after purchasing an additional 779 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in AMETEK by 2.1% in the 3rd quarter. Baird Financial Group Inc. now owns 38,355 shares of the technology company’s stock worth $3,057,000 after purchasing an additional 786 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in AMETEK by 9.9% in the 2nd quarter. Riverhead Capital Management LLC now owns 9,293 shares of the technology company’s stock worth $670,000 after purchasing an additional 836 shares in the last quarter. Finally, Intrust Bank NA lifted its holdings in AMETEK by 10.8% in the 2nd quarter. Intrust Bank NA now owns 8,994 shares of the technology company’s stock worth $649,000 after purchasing an additional 880 shares in the last quarter. 85.17% of the stock is currently owned by hedge funds and other institutional investors.
AME has been the subject of a number of recent research reports. Morgan Stanley boosted their price target on AMETEK from $79.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 1st. Royal Bank of Canada restated a “buy” rating and set a $86.00 price target on shares of AMETEK in a research note on Wednesday, August 1st. Robert W. Baird boosted their price target on AMETEK from $82.00 to $84.00 and gave the company an “outperform” rating in a research note on Friday, November 2nd. BMO Capital Markets cut their price target on AMETEK from $93.00 to $91.00 and set an “outperform” rating for the company in a research note on Friday, November 2nd. Finally, ValuEngine raised AMETEK from a “hold” rating to a “buy” rating in a research report on Tuesday, November 6th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price 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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