AMETEK (NYSE:AME) Price Target Raised to $198.00

Key Points

• Morgan Stanley raised the price target for AMETEK from $185.00 to $198.00, indicating a potential upside of 8.75% from the previous close.
• Other analysts have also increased their price targets, with DA Davidson setting it at $215.00 and KeyCorp at $205.00, reflecting overall optimism in the company's stock.
• AMETEK reported earnings of $1.78 per share, exceeding expectations, with revenue rising 2.5% year-over-year to $1.78 billion.

AMETEK (NYSE:AME - Get Free Report) had its price target raised by equities research analysts at Morgan Stanley from $185.00 to $198.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Morgan Stanley's price objective points to a potential upside of 8.75% from the company's previous close.

Several other analysts have also recently weighed in on the company. Robert W. Baird boosted their price objective on AMETEK from $190.00 to $198.00 and gave the stock a "neutral" rating in a report on Monday. DA Davidson boosted their price objective on AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a report on Friday, August 1st. KeyCorp upped their price target on AMETEK from $195.00 to $205.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Melius Research raised AMETEK to a "hold" rating in a research note on Monday, July 14th. Finally, Melius cut AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target for the company. in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $208.00.

AMETEK Stock Performance

Shares of NYSE:AME traded down $0.16 during trading on Friday, reaching $182.08. The stock had a trading volume of 341,396 shares, compared to its average volume of 1,387,722. AMETEK has a 52 week low of $145.02 and a 52 week high of $198.33. The firm has a market capitalization of $42.05 billion, a price-to-earnings ratio of 29.31, a P/E/G ratio of 2.68 and a beta of 1.10. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $179.83 and a two-hundred day simple moving average of $177.11.

AMETEK (NYSE:AME - Get Free Report) last announced its earnings results 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. AMETEK had a net margin of 20.60% and a return on equity of 16.53%. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter in the previous year, the firm posted $1.66 earnings per share. AMETEK's revenue was up 2.5% compared to the same quarter last year. As a group, analysts anticipate that AMETEK will post 7.15 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AMETEK

A number of large investors have recently added to or reduced their stakes in AME. Capital World Investors raised its stake in AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the period. Invesco Ltd. grew its position in AMETEK by 127.2% in the first quarter. Invesco Ltd. now owns 3,479,397 shares of the technology company's stock valued at $598,943,000 after acquiring an additional 1,947,831 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in AMETEK by 21.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,970,047 shares of the technology company's stock valued at $1,888,385,000 after acquiring an additional 1,908,742 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of AMETEK by 393.1% during the fourth quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after purchasing an additional 968,661 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of AMETEK by 18,368.3% during the first quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock valued at $167,540,000 after purchasing an additional 968,010 shares in the last quarter. Institutional investors own 87.43% of the company's stock.

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.

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