AMETEK (NYSE:AME) Price Target Raised to $200.00 at Mizuho

AMETEK (NYSE:AME) had its price objective hoisted by stock analysts at Mizuho from $190.00 to $200.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Mizuho’s price target would suggest a potential upside of 12.09% from the stock’s previous close.

Several other brokerages also recently commented on AME. Royal Bank of Canada reduced their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Robert W. Baird reduced their target price on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Redburn Atlantic upgraded shares of AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Truist Financial boosted their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average price target of $195.00.

AMETEK Stock Down 2.7 %

AME opened at $178.43 on Friday. AMETEK has a fifty-two week low of $141.26 and a fifty-two week high of $186.32. 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 firm’s fifty day moving average price is $169.17 and its two-hundred day moving average price is $168.92. The company has a market capitalization of $41.31 billion, a P/E ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the company earned $1.64 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that AMETEK will post 6.76 EPS for the current year.

Insider Activity at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the business’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 completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in AME. JPMorgan Chase & Co. lifted its position in AMETEK by 48.4% during the 1st quarter. JPMorgan Chase & Co. now owns 7,075,565 shares of the technology company’s stock valued at $1,294,121,000 after purchasing an additional 2,306,535 shares during the period. Bank of New York Mellon Corp lifted its position in AMETEK by 34.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,602,753 shares of the technology company’s stock valued at $600,615,000 after purchasing an additional 926,657 shares during the period. Meridiem Investment Management Ltd. acquired a new position in AMETEK during the 3rd quarter valued at about $130,579,000. Principal Financial Group Inc. raised its position in shares of AMETEK by 72.0% in 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 acquiring an additional 703,501 shares during the period. Finally, James Hambro & Partners LLP acquired a new stake in shares of AMETEK in the 3rd quarter valued at approximately $60,188,000. 87.43% of the stock is currently 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.