Truist Financial Forecasts Strong Price Appreciation for AMETEK (NYSE:AME) Stock

AMETEK (NYSE:AME) had its target price boosted by investment analysts at Truist Financial from $221.00 to $222.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would indicate a potential upside of 22.83% from the stock’s current price.

Several other research analysts have also recently issued reports on the company. Robert W. Baird increased their price objective on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a report on Thursday, January 9th. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and increased their target price for the company from $195.00 to $225.00 in a report on Monday, December 16th. Finally, Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $203.44.

AMETEK Stock Down 0.1 %

Shares of NYSE:AME opened at $180.74 on Thursday. The company has a market cap of $41.81 billion, a price-to-earnings ratio of 31.49, a PEG ratio of 2.51 and a beta of 1.16. AMETEK has a fifty-two week low of $149.03 and a fifty-two week high of $198.33. The firm’s 50-day simple moving average is $187.38 and its 200-day simple moving average is $175.02. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.64 EPS. As a group, equities research analysts predict that AMETEK will post 6.8 earnings per share for the current year.

Insider Activity at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,200 shares of company stock valued at $5,707,620. 0.61% of the stock is owned by insiders.

Institutional Trading of AMETEK

Institutional investors and hedge funds have recently bought and sold shares of the business. Versant Capital Management Inc grew its stake in shares of AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock valued at $35,000 after buying an additional 187 shares in the last quarter. Itau Unibanco Holding S.A. grew its position in shares of AMETEK by 62.6% in the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after acquiring an additional 77 shares in the last quarter. AdvisorNet Financial Inc increased its stake in AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock valued at $39,000 after purchasing an additional 200 shares during the last quarter. Princeton Global Asset Management LLC acquired a new stake in AMETEK during the third quarter worth about $44,000. Finally, Anchor Investment Management LLC raised its position in shares of AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after purchasing an additional 205 shares during the period. 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.