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

AMETEK (NYSE:AME) had its price objective increased by analysts at Truist Financial from $221.00 to $222.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial’s price target would suggest a potential upside of 22.83% from the stock’s current price.

Several other equities analysts have also weighed in on AME. StockNews.com raised shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Thursday, January 9th. Bank of America upgraded 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 research note on Monday, December 16th. KeyCorp boosted their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Robert W. Baird upped their target price on AMETEK from $166.00 to $186.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Finally, Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $203.44.

AMETEK Stock Down 0.1 %

Shares of AME stock opened at $180.74 on Thursday. The business’s fifty day moving average is $187.38 and its 200-day moving average is $175.02. The stock has a market cap of $41.81 billion, a PE ratio of 31.49, a price-to-earnings-growth ratio of 2.51 and a beta of 1.16. AMETEK has a 1 year low of $149.03 and a 1 year high of $198.33. 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 issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.71 billion. During the same quarter last year, the business posted $1.64 EPS. AMETEK’s revenue was up 5.3% on a year-over-year basis. Equities analysts expect that AMETEK will post 6.8 earnings per share for the current fiscal year.

Insider Buying and Selling at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the transaction, the insider now directly owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Emanuela Speranza sold 6,747 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the completion of the sale, the insider now owns 30,460 shares of the company’s stock, valued at $5,967,114. This represents a 18.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 29,200 shares of company stock worth $5,707,620. Insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EdgePoint Investment Group Inc. boosted its position in AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after purchasing an additional 918,737 shares during the period. Meridiem Investment Management Ltd. acquired a new stake in AMETEK during the 3rd quarter valued at approximately $130,579,000. Principal Financial Group Inc. lifted its holdings in AMETEK by 72.0% in the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after buying an additional 703,501 shares during the period. D1 Capital Partners L.P. bought a new stake in shares of AMETEK during the 3rd quarter valued at about $79,782,000. Finally, Assenagon Asset Management S.A. grew its position in shares of AMETEK by 434.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after buying an additional 440,197 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.