AMETEK (NYSE:AME) Price Target Increased to $219.00 by Analysts at Truist Financial

AMETEK (NYSE:AME) had its target price hoisted by stock analysts at Truist Financial from $201.00 to $219.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Financial’s price target points to a potential upside of 29.70% from the stock’s current price.

AME has been the topic of several other reports. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a report on Monday. Royal Bank of Canada decreased their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Robert W. Baird lowered their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and an average price target of $193.83.

AMETEK Stock Performance

Shares of AME traded up $1.93 during mid-day trading on Wednesday, reaching $168.85. The company had a trading volume of 221,511 shares, compared to its average volume of 1,134,497. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The stock has a 50 day moving average of $166.13 and a two-hundred day moving average of $170.22. The stock has a market capitalization of $39.08 billion, a P/E ratio of 29.67, a PEG ratio of 2.81 and a beta of 1.17.

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

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

AMETEK Company Profile

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.