AMETEK (NYSE:AME) Downgraded by TD Cowen

TD Cowen lowered shares of AMETEK (NYSE:AME) from a hold rating to a sell rating in a research note published on Monday morning, Marketbeat reports.

A number of other research firms have also recently commented on AME. Wolfe Research upgraded AMETEK to a hold rating in a research report on Wednesday, September 18th. Truist Financial dropped their price objective on shares of AMETEK from $204.00 to $201.00 and set a buy rating for the company in a research note on Friday, August 2nd. StockNews.com lowered AMETEK from a buy rating to a hold rating in a research note on Tuesday, August 6th. Robert W. Baird cut their price objective on shares of AMETEK from $171.00 to $166.00 and set a neutral rating for the company in a research report on Wednesday, August 7th. Finally, Royal Bank of Canada reduced their price objective on shares of AMETEK from $216.00 to $215.00 and set an outperform rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $193.83.

AMETEK Price Performance

Shares of NYSE AME opened at $168.91 on Monday. The firm has a market cap of $39.10 billion, a P/E ratio of 29.69, a P/E/G ratio of 2.81 and a beta of 1.17. AMETEK has a 52 week low of $136.89 and a 52 week high of $186.32. The business’s 50 day moving average price is $166.03 and its 200 day moving average price is $170.21. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.57 earnings per share. On average, sell-side analysts expect that AMETEK will post 6.77 earnings per share for the current year.

AMETEK Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.66%. AMETEK’s payout ratio is 19.68%.

Insider Buying and Selling

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 value of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Several hedge funds have recently added to or reduced their stakes in the stock. Washington Trust Advisors Inc. purchased a new stake in shares of AMETEK in the 1st quarter valued at about $37,000. Family Firm Inc. acquired a new stake in AMETEK during the second quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK during the 2nd quarter valued at $42,000. Headlands Technologies LLC acquired a new position in shares of AMETEK during the first quarter worth about $43,000. Finally, Crewe Advisors LLC boosted its stake in shares of AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after buying an additional 184 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

About AMETEK

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.