AMETEK (NYSE:AME) Earns “Buy” Rating from Truist Financial

AMETEK (NYSE:AME)‘s stock had its “buy” rating restated by analysts at Truist Financial in a report issued on Friday, Benzinga reports. They presently have a $329.00 target price on the technology company’s stock, up from their previous target price of $316.00. Truist Financial‘s target price indicates a potential upside of 35.84% from the stock’s current price.

AME has been the subject of a number of other research reports. Zacks Research upgraded AMETEK from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. KeyCorp increased their target price on AMETEK from $260.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 5th. DA Davidson set a $285.00 target price on AMETEK in a research note on Wednesday, October 7th. Royal Bank Of Canada raised their price target on AMETEK from $291.00 to $308.00 and gave the company an “outperform” rating in a report on Wednesday, November 4th. Finally, Mizuho lowered their price target on AMETEK from $285.00 to $275.00 and set an “outperform” rating for the company in a research report on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $278.88.

AMETEK Stock Up 0.5%

Shares of AME stock traded up $1.16 during trading hours on Friday, hitting $242.20. 1,282,520 shares of the company’s stock traded hands, compared to its average volume of 1,709,736. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $243.49 and its two-hundred day simple moving average is $235.10. AMETEK has a 12-month low of $188.47 and a 12-month high of $261.16. The stock has a market cap of $55.54 billion, a price-to-earnings ratio of 34.16, a PEG ratio of 2.15 and a beta of 0.96.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share for the quarter, topping the consensus estimate of $2.11 by $0.10. The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.12 billion. AMETEK had a return on equity of 17.12% and a net margin of 19.91%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.89 EPS. On average, analysts expect that AMETEK will post 8.57 EPS for the current year.

Institutional Investors Weigh In On AMETEK

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. bought a new position in AMETEK in the 2nd quarter valued at approximately $4,725,928,000. Flossbach Von Storch SE purchased a new stake in AMETEK during the 2nd quarter valued at $662,352,000. Bank of New York Mellon Corp bought a new stake in shares of AMETEK in the 2nd quarter worth $624,725,000. Bank of America Corp DE bought a new stake in shares of AMETEK in the 2nd quarter worth $391,801,000. Finally, Man Group plc purchased a new position in shares of AMETEK in the second quarter worth $356,499,000. Institutional investors own 87.43% of the company’s stock.

About AMETEK

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.