AMETEK (NYSE:AME) Price Target Raised to $221.00 at Truist Financial

AMETEK (NYSE:AME) had its target price raised by Truist Financial from $219.00 to $221.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a buy rating on the technology company’s stock.

A number of other equities analysts have also issued reports on AME. Robert W. Baird reduced their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Mizuho increased their price target on shares of AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $197.86.

AMETEK Trading Up 0.8 %

Shares of NYSE:AME opened at $179.92 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.76. The firm has a market capitalization of $41.66 billion, a P/E ratio of 31.34, a P/E/G ratio of 3.01 and a beta of 1.16. The business’s 50-day moving average is $169.41 and its 200 day moving average is $168.88. AMETEK has a 1 year low of $141.65 and a 1 year high of $186.32.

AMETEK (NYSE:AME) last released its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period last year, the business earned $1.64 EPS. AMETEK’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts predict that AMETEK will post 6.76 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.62%. AMETEK’s dividend payout ratio is presently 19.51%.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.61% of the company’s stock.

Institutional Trading of AMETEK

Several institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in shares of AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock worth $1,294,121,000 after purchasing an additional 2,306,535 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of AMETEK by 0.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,536,231 shares of the technology company’s stock worth $1,195,478,000 after acquiring an additional 44,899 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of AMETEK by 34.6% in the second quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock worth $600,615,000 after acquiring an additional 926,657 shares during the last quarter. Boston Partners raised its stake in AMETEK by 3.0% in the 1st quarter. Boston Partners now owns 3,063,588 shares of the technology company’s stock valued at $560,278,000 after purchasing an additional 90,271 shares during the last quarter. Finally, Flossbach Von Storch AG raised its stake in AMETEK by 3.4% in the 1st quarter. Flossbach Von Storch AG now owns 2,673,507 shares of the technology company’s stock valued at $488,984,000 after purchasing an additional 87,477 shares during the last quarter. 87.43% of the stock is 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.