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

AMETEK (NYSE:AME) had its price target lifted by Mizuho from $190.00 to $200.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Mizuho’s price target points to a potential upside of 11.21% from the stock’s previous close.

A number of other equities research analysts also recently commented on the company. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Truist Financial increased their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada lowered their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, AMETEK presently has a consensus rating of “Moderate Buy” and an average price target of $195.00.

AMETEK Trading Down 1.9 %

Shares of AME stock traded down $3.50 on Friday, reaching $179.84. 969,332 shares of the stock were exchanged, compared to its average volume of 1,139,429. The stock has a 50 day moving average price of $168.95 and a 200 day moving average price of $169.00. 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 stock has a market cap of $41.64 billion, a PE ratio of 31.25, a P/E/G ratio of 2.77 and a beta of 1.17. AMETEK has a one year low of $141.26 and a one year high of $186.32.

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 company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the previous year, the company earned $1.64 EPS. AMETEK’s revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that AMETEK will post 6.76 EPS for the current fiscal year.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the company’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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of AMETEK

Several institutional investors and hedge funds have recently added to or reduced their stakes in AME. Leavell Investment Management Inc. raised its stake in AMETEK by 7.3% in the third quarter. Leavell Investment Management Inc. now owns 4,456 shares of the technology company’s stock valued at $765,000 after buying an additional 304 shares during the period. Portside Wealth Group LLC lifted its position in shares of AMETEK by 15.7% during the 3rd quarter. Portside Wealth Group LLC now owns 3,056 shares of the technology company’s stock worth $525,000 after buying an additional 415 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after purchasing an additional 703,501 shares during the last quarter. WoodTrust Financial Corp increased its holdings in shares of AMETEK by 9.2% during the third quarter. WoodTrust Financial Corp now owns 11,849 shares of the technology company’s stock worth $2,034,000 after buying an additional 1,000 shares in the last quarter. Finally, Harvest Portfolios Group Inc. boosted its holdings in shares of AMETEK by 24.4% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 6,207 shares of the technology company’s stock valued at $1,066,000 after acquiring an additional 1,218 shares in the last quarter. 87.43% of the stock is 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.