AMETEK (NYSE:AME) Given New $204.00 Price Target at Truist Financial

AMETEK (NYSE:AME) had its price target decreased by Truist Financial from $210.00 to $204.00 in a research report report published on Tuesday, Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

Other equities research analysts have also recently issued reports about the stock. Robert W. Baird cut their price objective on shares of AMETEK from $173.00 to $171.00 and set a neutral rating on the stock in a research note on Monday, May 6th. StockNews.com cut shares of AMETEK from a buy rating to a hold rating in a research note on Tuesday, June 18th. Finally, Oppenheimer upgraded shares of AMETEK from a market perform rating to an outperform rating and set a $200.00 price objective on the stock in a research note on Wednesday, May 22nd. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, AMETEK currently has an average rating of Moderate Buy and an average price target of $181.20.

AMETEK Stock Performance

AME stock opened at $166.10 on Tuesday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.66 and a current ratio of 1.11. The stock has a market capitalization of $38.45 billion, a price-to-earnings ratio of 29.19, a PEG ratio of 2.67 and a beta of 1.18. AMETEK has a 1 year low of $136.89 and a 1 year high of $186.32. The stock’s fifty day moving average is $170.36 and its two-hundred day moving average is $171.75.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The business had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the business earned $1.49 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, research analysts predict that AMETEK will post 6.83 EPS for the current year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, June 14th. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK’s payout ratio is presently 19.68%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The transaction was disclosed in a filing with the SEC, which is available through this link. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the sale, the director now owns 26,249 shares in the company, valued at approximately $4,467,579.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

A number of large investors have recently made changes to their positions in AME. McGlone Suttner Wealth Management Inc. bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AMETEK in the 4th quarter valued at approximately $31,000. 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.