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

AMETEK (NYSE:AME) had its price target boosted by Truist Financial from $221.00 to $222.00 in a research report sent to investors on Thursday,Benzinga reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other analysts have also recently issued reports on the stock. Robert W. Baird increased their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Mizuho upped 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. BNP Paribas upgraded 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. KeyCorp upped 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. Finally, TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $203.44.

AMETEK Stock Up 0.5 %

Shares of AME opened at $180.89 on Thursday. The stock has a market capitalization of $41.84 billion, a PE ratio of 31.51, a P/E/G ratio of 2.51 and a beta of 1.16. AMETEK has a 1 year low of $149.03 and a 1 year high of $198.33. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. The company’s 50-day simple moving average is $187.54 and its 200-day simple moving average is $174.98.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.64 earnings per share. Analysts forecast that AMETEK will post 6.8 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.28 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.62%. AMETEK’s dividend payout ratio is currently 19.51%.

Insider Buying and Selling at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares in the company, valued at approximately $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. 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 firm’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock worth $5,707,620 over the last three months. Insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

A number of hedge funds have recently modified their holdings of AME. EdgePoint Investment Group Inc. grew its position in shares of AMETEK by 87.9% during the third quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock worth $337,279,000 after acquiring an additional 918,737 shares during the last quarter. Meridiem Investment Management Ltd. acquired a new stake in shares of AMETEK during the third quarter worth $130,579,000. Principal Financial Group Inc. lifted its holdings in shares of AMETEK by 72.0% during the third quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock worth $288,526,000 after purchasing an additional 703,501 shares during the period. D1 Capital Partners L.P. acquired a new stake in shares of AMETEK during the third quarter worth $79,782,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of AMETEK by 434.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after purchasing an additional 440,197 shares during the period. 87.43% of the stock is currently owned by hedge funds and other 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.