AMETEK (NYSE:AME) Given “Buy” Rating at Truist Financial

Truist Financial reaffirmed their buy rating on shares of AMETEK (NYSE:AME) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $329.00 target price on the technology company’s stock, up from their prior target price of $316.00.

A number of other analysts also recently issued reports on the company. Weiss Ratings downgraded AMETEK from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, November 2nd. BMO Capital Markets increased their price objective on AMETEK from $262.00 to $282.00 in a report on Wednesday, August 5th. Vertical Research assumed coverage on AMETEK in a report on Tuesday, September 8th. They issued a “buy” rating and a $255.00 price objective on the stock. Deutsche Bank raised their target price on AMETEK from $288.00 to $318.00 and gave the stock a “buy” rating in a research report on Wednesday, September 30th. Finally, Royal Bank Of Canada boosted their target price on AMETEK from $291.00 to $308.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, AMETEK currently has an average rating of “Moderate Buy” and a consensus target price of $278.88.

AMETEK Stock Up 0.5%

AMETEK stock traded up $1.16 during trading on Friday, reaching $242.20. The stock had a trading volume of 1,282,520 shares, compared to its average volume of 1,709,736. AMETEK has a 52-week low of $188.47 and a 52-week high of $261.16. The business has a 50 day moving average price of $243.49 and a 200 day moving average price of $235.10. The company has a quick ratio of 0.91, a current ratio of 1.43 and a debt-to-equity ratio of 0.52. The stock has a market cap of $55.54 billion, a PE ratio of 34.16, a P/E/G ratio of 2.15 and a beta of 0.96.

AMETEK (NYSE:AME) last posted its quarterly earnings results on Tuesday, November 3rd. The technology company reported $2.21 EPS for the quarter, topping the consensus estimate of $2.11 by $0.10. AMETEK had a net margin of 19.91% and a return on equity of 17.12%. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter in the previous year, the business posted $1.89 EPS. The firm’s revenue was up 17.3% on a year-over-year basis. On average, analysts predict that AMETEK will post 8.57 EPS for the current year.

AMETEK Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Investors of record on Friday, December 4th will be given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, December 4th. AMETEK’s dividend payout ratio (DPR) is 19.18%.

Institutional Investors Weigh In On AMETEK

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Frazier Financial Advisors LLC purchased a new stake in AMETEK in the second quarter valued at $25,000. Fiduciary Financial Advisors purchased a new position in shares of AMETEK during the second quarter worth about $27,000. Elevation Wealth Partners LLC grew its holdings in shares of AMETEK by 239.5% during the second quarter. Elevation Wealth Partners LLC now owns 129 shares of the technology company’s stock worth $31,000 after purchasing an additional 91 shares during the last quarter. GK Wealth Management LLC purchased a new position in shares of AMETEK during the third quarter worth about $36,000. Finally, NFSG Corp acquired a new stake in shares of AMETEK during the third quarter worth about $48,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

About AMETEK

AMETEK, Inc. is a global manufacturer of electronic instruments and electromechanical products. Its businesses serve a range of markets, including aerospace, energy, industrial manufacturing, medical, and transportation. The company’s products include analytical and process instruments, monitoring and measurement systems, aerospace components, precision motors and pumps, and engineered materials. AMETEK organizes its operations into two groups: Electronic Instruments and Electromechanical. Founded in 1930, AMETEK serves customers around the world through manufacturing facilities, sales offices, and service operations in multiple countries.