AMETEK (NYSE:AME) Price Target Raised to $186.00

AMETEK (NYSE:AME) had its target price increased by Robert W. Baird from $166.00 to $186.00 in a report issued on Monday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the technology company’s stock.

Several other brokerages also recently issued reports on AME. Truist Financial raised their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Royal Bank of Canada cut their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $197.86.

AMETEK Stock Up 4.6 %

Shares of AME stock opened at $190.41 on Monday. AMETEK has a 52-week low of $141.65 and a 52-week high of $192.20. The stock has a market cap of $44.04 billion, a price-to-earnings ratio of 33.17, a PEG ratio of 2.91 and a beta of 1.16. The firm’s 50-day moving average is $170.12 and its 200-day moving average is $169.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts predict that AMETEK will post 6.81 EPS for the current year.

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Institutional investors and hedge funds have recently bought and sold shares of the company. Washington Trust Advisors Inc. acquired a new position in shares of AMETEK in the 1st quarter valued at approximately $37,000. Family Firm Inc. acquired a new position in AMETEK during the second quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. bought a new stake in AMETEK during the second quarter worth $42,000. Headlands Technologies LLC bought a new stake in AMETEK during the first quarter worth $43,000. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of AMETEK in the 3rd quarter valued at $44,000. Institutional investors 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.