AMETEK (NYSE:AME) Price Target Raised to $222.00 at Truist Financial

AMETEK (NYSE:AME) had its price objective lifted by stock analysts at Truist Financial from $221.00 to $222.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Financial’s price target points to a potential upside of 23.32% from the company’s previous close.

A number of other research firms have also recently weighed in on AME. Bank of America raised shares of AMETEK from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $195.00 to $225.00 in a research note on Monday, December 16th. KeyCorp boosted their target price on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price on the stock in a research note on Thursday. Mizuho boosted their target price 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. Finally, TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $203.44.

AMETEK Stock Up 0.5 %

Shares of AME opened at $180.02 on Thursday. AMETEK has a one year low of $149.03 and a one year high of $198.33. The company has a market cap of $41.64 billion, a P/E ratio of 31.36, a P/E/G ratio of 3.08 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $187.75 and a two-hundred day simple moving average of $174.94.

AMETEK (NYSE:AME) last announced its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the business earned $1.64 earnings per share. The company’s revenue was up 5.3% on a year-over-year basis. Research analysts forecast that AMETEK will post 6.8 EPS 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 stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now directly owns 49,490 shares in the company, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David F. Hermance sold 6,243 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the sale, the insider now owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 29,200 shares of company stock valued at $5,707,620. 0.61% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AMETEK

Institutional investors and hedge funds have recently made changes to their positions in the stock. Versant Capital Management Inc boosted its position in shares of AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 187 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in shares of AMETEK by 62.6% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after purchasing an additional 77 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of AMETEK by 1,176.5% during the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after purchasing an additional 200 shares in the last quarter. Princeton Global Asset Management LLC bought a new position in shares of AMETEK during the 3rd quarter worth about $44,000. Finally, Anchor Investment Management LLC boosted its position in shares of AMETEK by 366.1% during the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after purchasing an additional 205 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

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.