AMETEK (NYSE:AME) PT Raised to $219.00 at Truist Financial

AMETEK (NYSE:AME) had its target price boosted by stock analysts at Truist Financial from $201.00 to $219.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price points to a potential upside of 29.65% from the stock’s previous close.

AME has been the topic of several other research reports. Robert W. Baird cut their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a report on Monday. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AMETEK has an average rating of “Moderate Buy” and an average price target of $193.83.

AMETEK Trading Up 0.1 %

Shares of AME opened at $168.91 on Wednesday. The stock has a market capitalization of $39.10 billion, a PE ratio of 29.69, a P/E/G ratio of 2.81 and a beta of 1.17. AMETEK has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The company’s fifty day moving average is $166.03 and its 200 day moving average is $170.21.

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

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AME. JPMorgan Chase & Co. raised its stake in shares of AMETEK by 48.4% in the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after acquiring an additional 2,306,535 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the period. Principal Financial Group Inc. increased its stake in AMETEK by 256.3% in the 2nd quarter. Principal Financial Group Inc. now owns 976,808 shares of the technology company’s stock valued at $162,844,000 after buying an additional 702,674 shares during the period. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of AMETEK in the first quarter valued at approximately $46,343,000. Finally, Sei Investments Co. increased its holdings in AMETEK by 133.3% in the first quarter. Sei Investments Co. now owns 394,881 shares of the technology company’s stock valued at $72,223,000 after buying an additional 225,600 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.