Truist Financial Forecasts Strong Price Appreciation for AMETEK (NYSE:AME) Stock

AMETEK (NYSE:AME - Get Free Report) had its price target hoisted by research analysts at Truist Financial from $221.00 to $222.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a "buy" rating on the technology company's stock. Truist Financial's target price would suggest a potential upside of 22.72% from the stock's current price.

Other equities research analysts have also recently issued reports about the company. Wolfe Research upgraded AMETEK to a "hold" rating in a report on Wednesday, September 18th. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Thursday, January 9th. TD Cowen cut AMETEK from a "hold" rating to a "sell" rating in a report on Monday, October 7th. KeyCorp increased their price objective on AMETEK from $205.00 to $215.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. Finally, Robert W. Baird increased their price objective on AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $203.44.

AMETEK Price Performance

Shares of AMETEK stock traded up $0.83 during trading on Thursday, hitting $180.89. 1,698,862 shares of the stock traded hands, compared to its average volume of 966,530. The stock has a market cap of $41.84 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.51 and a beta of 1.16. AMETEK has a 52 week low of $149.03 and a 52 week high of $198.33. The firm's fifty day moving average is $187.54 and its 200-day moving average is $174.98. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18.

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

Insider Activity at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction 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 completion of the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares of the company's stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their position. 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 ninety days. 0.61% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Oddo BHF Asset Management Sas purchased a new position in AMETEK during the third quarter valued at $3,724,000. Everence Capital Management Inc. purchased a new position in AMETEK during the fourth quarter valued at $999,000. BNP Paribas Financial Markets raised its stake in AMETEK by 23.2% during the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company's stock valued at $61,099,000 after buying an additional 67,025 shares during the last quarter. Sawgrass Asset Management LLC raised its stake in shares of AMETEK by 36.5% in the third quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company's stock worth $12,837,000 after purchasing an additional 20,001 shares during the last quarter. Finally, Taurus Asset Management LLC raised its stake in shares of AMETEK by 2.9% in the third quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company's stock worth $19,752,000 after purchasing an additional 3,210 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company's stock.

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.