Truist Financial Issues Positive Forecast for AMETEK (NYSE:AME) Stock Price

AMETEK (NYSE:AME - Get Free Report) had its target price increased by Truist Financial from $196.00 to $200.00 in a report released on Monday,Benzinga reports. The firm currently has a "buy" rating on the technology company's stock. Truist Financial's target price suggests a potential upside of 17.07% from the stock's current price.

Other equities analysts also recently issued reports about the company. Morgan Stanley started coverage on AMETEK in a research report on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. StockNews.com cut shares of AMETEK from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Royal Bank of Canada boosted their target price on shares of AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday. Robert W. Baird lowered their price objective on AMETEK from $200.00 to $197.00 and set a "neutral" rating for the company in a research report on Wednesday, February 5th. Finally, BNP Paribas upgraded AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price target on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $197.60.

AMETEK Price Performance

AME traded up $0.78 during trading on Monday, hitting $170.85. 309,820 shares of the stock traded hands, compared to its average volume of 1,287,089. The business has a 50 day moving average price of $170.16 and a 200 day moving average price of $179.49. The company has a market cap of $39.42 billion, a price-to-earnings ratio of 28.81, a PEG ratio of 2.73 and a beta of 1.12. AMETEK has a twelve month low of $145.02 and a twelve month high of $198.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75.

AMETEK (NYSE:AME - Get Free Report) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. The business's quarterly revenue was down .2% on a year-over-year basis. During the same period last year, the company earned $1.64 earnings per share. Equities research analysts forecast that AMETEK will post 7.15 earnings per share for the current fiscal year.

AMETEK announced that its Board of Directors has approved a share buyback plan on Friday, February 7th that allows the company to buyback $1.25 billion in shares. This buyback authorization allows the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $189.41, for a total transaction of $250,021.20. Following the completion of the transaction, the director now owns 22,029 shares of the company's stock, valued at $4,172,512.89. This represents a 5.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas A. Amato sold 710 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total transaction of $125,414.40. Following the transaction, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.57% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AMETEK

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AME. Olde Wealth Management LLC purchased a new stake in shares of AMETEK in the first quarter worth $29,000. Versant Capital Management Inc boosted its position in AMETEK by 3,116.7% in the fourth quarter. Versant Capital Management Inc now owns 193 shares of the technology company's stock worth $35,000 after purchasing an additional 187 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of AMETEK in the fourth quarter worth approximately $37,000. AdvisorNet Financial Inc grew its position in AMETEK by 1,176.5% during the fourth quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company's stock valued at $39,000 after buying an additional 200 shares during the period. Finally, Geneos Wealth Management Inc. raised its position in AMETEK by 42.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company's stock worth $42,000 after acquiring an additional 70 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

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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