AMETEK (NYSE:AME) PT Raised to $190.00

AMETEK (NYSE:AME) had its price target boosted by research analysts at Mizuho from $180.00 to $190.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Mizuho’s price objective suggests a potential upside of 11.96% from the company’s current price.

Several other research firms have also issued reports on AME. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. TD Cowen lowered AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, Truist Financial upped their price objective on AMETEK from $201.00 to $219.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $193.29.

AMETEK Stock Performance

NYSE:AME opened at $169.71 on Thursday. The stock has a 50-day simple moving average of $167.42 and a two-hundred day simple moving average of $169.77. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. The firm has a market capitalization of $39.28 billion, a PE ratio of 29.83, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last released its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The business had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the previous year, the company posted $1.57 earnings per share. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. Analysts forecast that AMETEK will post 6.76 EPS for the current year.

Insider Activity at AMETEK

In related 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 transaction of $250,521.40. Following the completion of the transaction, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On AMETEK

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AME. Washington Trust Advisors Inc. purchased a new stake in shares of AMETEK in the first quarter worth approximately $37,000. Family Firm Inc. purchased a new stake in shares of AMETEK in the second quarter worth approximately $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in shares of AMETEK in the second quarter worth approximately $42,000. Headlands Technologies LLC purchased a new stake in shares of AMETEK in the first quarter worth approximately $43,000. Finally, Crewe Advisors LLC raised its holdings in shares of AMETEK by 168.8% in the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 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.