AMETEK (NYSE:AME) Given New $215.00 Price Target at DA Davidson

Key Points

• DA Davidson has raised its price target for AMETEK from $210.00 to $215.00, indicating a potential upside of 18.02% from the stock's previous close.
• The company's stock saw a 1.4% decline, trading at $182.18, despite reporting earnings of $1.78 per share, surpassing analyst expectations.
• AMETEK has received numerous ratings from analysts, with a consensus rating of "Moderate Buy" and an average price target of $200.18.

AMETEK (NYSE:AME - Get Free Report) had its price objective upped by equities research analysts at DA Davidson from $210.00 to $215.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the technology company's stock. DA Davidson's target price points to a potential upside of 18.02% from the stock's previous close.

Several other equities analysts have also commented on the stock. Melius Research raised shares of AMETEK to a "hold" rating in a research report on Monday, July 14th. Truist Financial increased their price objective on AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. Robert W. Baird decreased their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Morgan Stanley initiated coverage on AMETEK in a research report on Monday, April 14th. They issued an "equal weight" rating and a $170.00 target price on the stock. Finally, Mizuho raised their price target on shares of AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, AMETEK has a consensus rating of "Moderate Buy" and an average price target of $200.18.

AMETEK Stock Down 1.4%

Shares of NYSE AME traded down $2.67 during mid-day trading on Friday, reaching $182.18. 1,725,013 shares of the company were exchanged, compared to its average volume of 1,391,135. The firm has a 50-day moving average of $179.35 and a 200 day moving average of $176.99. AMETEK has a 1 year low of $145.02 and a 1 year high of $198.33. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. The stock has a market cap of $42.06 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.65 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. The company's quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.66 EPS. On average, research analysts expect that AMETEK will post 7.15 earnings per share for the current year.

Hedge Funds Weigh In On AMETEK

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital World Investors grew its holdings in AMETEK by 70.0% in the fourth quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after purchasing an additional 2,371,062 shares during the period. Invesco Ltd. increased its stake in shares of AMETEK by 127.2% during the first quarter. Invesco Ltd. now owns 3,479,397 shares of the technology company's stock worth $598,943,000 after purchasing an additional 1,947,831 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of AMETEK by 21.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,970,047 shares of the technology company's stock worth $1,888,385,000 after purchasing an additional 1,908,742 shares during the last quarter. Lazard Asset Management LLC lifted its stake in AMETEK by 393.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after buying an additional 968,661 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in AMETEK by 18,368.3% in the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock worth $167,540,000 after buying an additional 968,010 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.

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