AMETEK (NYSE:AME) Stock Price Expected to Rise, KeyCorp Analyst Says

AMETEK (NYSE:AME) had its price target hoisted by stock analysts at KeyCorp from $205.00 to $215.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. KeyCorp’s price target points to a potential upside of 8.93% from the company’s previous close.

AME has been the subject of several other research reports. Truist Financial boosted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada lowered their price target 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. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Robert W. Baird raised their price target on shares of AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $199.29.

AMETEK Price Performance

Shares of NYSE:AME opened at $197.38 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $176.46 and its two-hundred day simple moving average is $170.71. The company has a market capitalization of $45.66 billion, a P/E ratio of 34.39, a P/E/G ratio of 3.19 and a beta of 1.16. AMETEK has a 1-year low of $149.03 and a 1-year high of $197.83.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the prior year, the firm earned $1.64 earnings per share. AMETEK’s revenue was up 5.3% on a year-over-year basis. Research analysts expect that AMETEK will post 6.8 EPS for the current fiscal year.

Insider Activity

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction on 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 transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pitcairn Co. acquired a new position in AMETEK during the 1st quarter valued at about $224,000. CreativeOne Wealth LLC bought a new position in shares of AMETEK in the first quarter valued at approximately $388,000. Canada Pension Plan Investment Board increased its stake in shares of AMETEK by 9.5% during the first quarter. Canada Pension Plan Investment Board now owns 170,233 shares of the technology company’s stock valued at $31,136,000 after acquiring an additional 14,749 shares during the period. Epoch Investment Partners Inc. raised its holdings in AMETEK by 83.5% during the first quarter. Epoch Investment Partners Inc. now owns 190,470 shares of the technology company’s stock worth $34,837,000 after purchasing an additional 86,693 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in AMETEK in the first quarter worth approximately $534,000. 87.43% of the stock is owned by 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.