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

AMETEK (NYSE:AME) had its price target boosted by analysts at Truist Financial from $219.00 to $221.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Truist Financial’s target price would suggest a potential upside of 23.86% from the stock’s current price.

Several other equities analysts have also commented on the stock. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Royal Bank of Canada dropped 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. Robert W. Baird dropped their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Finally, Wolfe Research raised shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and an average target price of $195.00.

AMETEK Stock Performance

Shares of AME stock opened at $178.43 on Friday. AMETEK has a one year low of $141.26 and a one year high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The company has a 50 day moving average price of $169.17 and a 200 day moving average price of $168.92. The firm has a market capitalization of $41.31 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the business posted $1.64 earnings per share. AMETEK’s revenue for the quarter was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that AMETEK will post 6.76 EPS for the current year.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s 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 directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AME. Norden Group LLC bought a new position in AMETEK during the 1st quarter valued at $2,508,000. First Trust Direct Indexing L.P. lifted its position in shares of AMETEK by 20.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 5,526 shares of the technology company’s stock worth $1,011,000 after buying an additional 936 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of AMETEK by 6.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 35,926 shares of the technology company’s stock worth $6,571,000 after buying an additional 2,105 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of AMETEK by 150.3% in the 1st quarter. BNP Paribas Financial Markets now owns 206,728 shares of the technology company’s stock worth $37,811,000 after buying an additional 124,130 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of AMETEK by 4.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 127,769 shares of the technology company’s stock worth $23,369,000 after buying an additional 5,242 shares during the last quarter. 87.43% of the stock is currently 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.