AMETEK (NYSE:AME) Given New $200.00 Price Target at Truist Financial

AMETEK (NYSE:AME) had its price objective boosted by Truist Financial from $196.00 to $200.00 in a research report report published on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the technology company’s stock.

A number of other analysts have also weighed in on the stock. Robert W. Baird lowered their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada upped their price target on shares of AMETEK from $194.00 to $201.00 and gave the stock an “outperform” rating in a research report on Friday. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective on the stock in a report on Thursday, January 16th. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Finally, Morgan Stanley initiated coverage on AMETEK in a report on Monday, April 14th. They issued an “equal weight” rating and a $170.00 price target on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $197.60.

AMETEK Trading Up 0.1 %

Shares of AME opened at $170.19 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.24 and a quick ratio of 0.75. The firm has a market capitalization of $39.27 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.73 and a beta of 1.12. The company has a 50-day moving average of $169.80 and a 200 day moving average of $179.49. AMETEK has a 1-year low of $145.02 and a 1-year high of $198.33.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. AMETEK had a return on equity of 16.94% and a net margin of 19.83%. AMETEK’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.64 earnings per share. On average, research analysts expect that AMETEK will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $0.31 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.73%. AMETEK’s dividend payout ratio is presently 20.29%.

AMETEK announced that its board has approved a stock repurchase plan on Friday, February 7th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AMETEK

In related news, Director Thomas A. Amato sold 710 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total transaction of $125,414.40. Following the sale, the director now directly owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $250,021.20. Following the completion of the sale, the director now owns 22,029 shares in the company, valued at approximately $4,172,512.89. This represents a 5.65 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On AMETEK

Several large investors have recently made changes to their positions in the company. Crestwood Advisors Group LLC grew its position in AMETEK by 3.9% during the first quarter. Crestwood Advisors Group LLC now owns 8,421 shares of the technology company’s stock valued at $1,450,000 after buying an additional 315 shares during the period. Allianz Asset Management GmbH grew its position in shares of AMETEK by 2.9% during the 1st quarter. Allianz Asset Management GmbH now owns 135,088 shares of the technology company’s stock valued at $23,254,000 after acquiring an additional 3,794 shares during the period. Kestra Private Wealth Services LLC grew its position in shares of AMETEK by 60.8% during the 1st quarter. Kestra Private Wealth Services LLC now owns 2,733 shares of the technology company’s stock valued at $470,000 after acquiring an additional 1,033 shares during the period. Buckhead Capital Management LLC raised its holdings in AMETEK by 0.3% in the 1st quarter. Buckhead Capital Management LLC now owns 22,830 shares of the technology company’s stock worth $3,930,000 after purchasing an additional 65 shares during the period. Finally, Private Advisor Group LLC boosted its position in AMETEK by 4.2% during the first quarter. Private Advisor Group LLC now owns 7,306 shares of the technology company’s stock worth $1,258,000 after purchasing an additional 296 shares in the last quarter. 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.