Truist Financial Issues Positive Forecast for AMETEK (NYSE:AME) Stock Price

AMETEK (NYSE:AME) had its price objective increased by Truist Financial from $219.00 to $221.00 in a research report sent to investors on Friday, Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

Other equities research analysts have also issued reports about the stock. 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 cut their target price 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 lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. Mizuho upped their price objective on AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Wolfe Research raised AMETEK to a “hold” rating in a report on Wednesday, September 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus target price of $195.00.

AMETEK Price Performance

Shares of AMETEK stock traded down $4.91 on Friday, reaching $178.43. The stock had a trading volume of 1,962,659 shares, compared to its average volume of 1,144,114. The business’s 50 day moving average is $169.17 and its two-hundred day moving average is $168.99. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. AMETEK has a 1 year low of $141.26 and a 1 year high of $186.32. The company has a market cap of $41.31 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.64 EPS. As a group, research analysts anticipate that AMETEK will post 6.76 EPS for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.63%. AMETEK’s payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the 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 owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Institutional investors have recently bought and sold shares of the stock. Norden Group LLC bought a new stake in shares of AMETEK in the 1st quarter worth $2,508,000. First Trust Direct Indexing L.P. boosted its stake in AMETEK by 20.4% during the first 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 period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of AMETEK by 6.2% during 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 acquiring an additional 2,105 shares during the last quarter. BNP Paribas Financial Markets boosted its position in AMETEK by 150.3% in the 1st quarter. BNP Paribas Financial Markets now owns 206,728 shares of the technology company’s stock valued at $37,811,000 after buying an additional 124,130 shares during the period. Finally, Janney Montgomery Scott LLC increased its stake in shares of AMETEK by 4.3% during the first quarter. Janney Montgomery Scott LLC now owns 127,769 shares of the technology company’s stock valued at $23,369,000 after buying an additional 5,242 shares during the period. 87.43% of the stock is owned by institutional investors.

AMETEK Company Profile

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.