Truist Financial Boosts AMETEK (NYSE:AME) Price Target to $219.00

AMETEK (NYSE:AME) had its price objective upped by Truist Financial from $201.00 to $219.00 in a research note published on Wednesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.

Several other analysts also recently commented on AME. Royal Bank of Canada dropped their price objective on shares of AMETEK from $216.00 to $215.00 and set an outperform rating on the stock in a report on Friday, August 2nd. Wolfe Research raised AMETEK to a hold rating in a research report on Wednesday, September 18th. StockNews.com cut AMETEK from a buy rating to a hold rating in a report on Tuesday, August 6th. TD Cowen downgraded AMETEK from a hold rating to a sell rating in a research note on Monday, October 7th. Finally, Redburn Atlantic upgraded AMETEK to a strong-buy rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $193.83.

AMETEK Stock Performance

Shares of AME stock opened at $170.38 on Wednesday. The business has a fifty day moving average of $166.23 and a 200 day moving average of $170.21. AMETEK has a 1 year low of $136.89 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a market capitalization of $39.45 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.02. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.57 earnings per share. As a group, research analysts expect that AMETEK will post 6.76 earnings per share for the current year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. AMETEK’s payout ratio is 19.51%.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the company’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 transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Ossiam increased its stake in AMETEK by 20.2% during the 4th quarter. Ossiam now owns 5,644 shares of the technology company’s stock worth $931,000 after buying an additional 948 shares in the last quarter. Cresset Asset Management LLC boosted its holdings in shares of AMETEK by 16.0% during the 4th quarter. Cresset Asset Management LLC now owns 79,705 shares of the technology company’s stock worth $13,142,000 after purchasing an additional 11,003 shares during the last quarter. Wasatch Advisors LP lifted its position in AMETEK by 72.3% during the fourth quarter. Wasatch Advisors LP now owns 6,127 shares of the technology company’s stock worth $1,010,000 after buying an additional 2,570 shares in the last quarter. C M Bidwell & Associates Ltd. boosted its position in shares of AMETEK by 4,320.0% during the 4th quarter. C M Bidwell & Associates Ltd. now owns 1,547 shares of the technology company’s stock valued at $255,000 after acquiring an additional 1,512 shares during the last quarter. Finally, Bridgefront Capital LLC purchased a new stake in shares of AMETEK in the fourth quarter valued at about $588,000. 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.