Mizuho Has Lowered Expectations for AMETEK (NYSE:AME) Stock Price

AMETEK (NYSE:AME – Get Free Report) had its price objective reduced by analysts at Mizuho from $285.00 to $275.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Mizuho‘s price objective points to a potential upside of 10.22% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Weiss Ratings cut shares of AMETEK from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday. Deutsche Bank Aktiengesellschaft boosted their price objective on AMETEK from $288.00 to $318.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. Vertical Research began coverage on AMETEK in a research report on Tuesday, September 8th. They issued a “buy” rating and a $255.00 target price on the stock. Truist Financial increased their target price on AMETEK from $303.00 to $316.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Finally, BMO Capital Markets increased their target price on AMETEK from $262.00 to $282.00 in a research note on Wednesday, August 5th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $276.56.

Read Our Latest Research Report on AMETEK

AMETEK Price Performance

NYSE:AME opened at $249.51 on Wednesday. AMETEK has a one year low of $188.47 and a one year high of $261.16. The company has a market cap of $57.19 billion, a P/E ratio of 36.48, a P/E/G ratio of 2.29 and a beta of 0.96. The firm’s fifty day moving average price is $243.74 and its two-hundred day moving average price is $234.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.76.

AMETEK (NYSE:AME – Get Free Report) last posted its earnings results on Tuesday, November 3rd. The technology company reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.11 by $0.10. The company had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.12 billion. AMETEK had a net margin of 20.04% and a return on equity of 16.93%. AMETEK’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.89 EPS. Equities analysts expect that AMETEK will post 8.41 earnings per share for the current year.

Insider Activity at AMETEK

In other news, insider David Hermance sold 6,608 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $254.00, for a total transaction of $1,678,432.00. Following the transaction, the insider directly owned 42,509 shares of the company’s stock, valued at approximately $10,797,286. This trade represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On AMETEK

Large investors have recently added to or reduced their stakes in the stock. QRG Capital Management Inc. increased its position in AMETEK by 1,002.4% during the 2nd quarter. QRG Capital Management Inc. now owns 132,612 shares of the technology company’s stock valued at $32,084,000 after purchasing an additional 120,583 shares during the period. National Pension Service lifted its position in shares of AMETEK by 1.6% in the 2nd quarter. National Pension Service now owns 338,990 shares of the technology company’s stock worth $82,015,000 after purchasing an additional 5,382 shares during the period. Fifth Third Bancorp lifted its position in shares of AMETEK by 1,060.3% in the 1st quarter. Fifth Third Bancorp now owns 82,948 shares of the technology company’s stock worth $17,781,000 after purchasing an additional 75,799 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of AMETEK by 450.1% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 6,612 shares of the technology company’s stock valued at $1,638,000 after purchasing an additional 5,410 shares during the last quarter. Finally, Groupe la Francaise boosted its stake in shares of AMETEK by 15.6% in the 2nd quarter. Groupe la Francaise now owns 154,326 shares of the technology company’s stock valued at $37,361,000 after purchasing an additional 20,780 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Key Stories Impacting AMETEK

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About AMETEK

(Get Free Report)

AMETEK, Inc is a global manufacturer of industrial technology solutions. The company develops and produces advanced analytical, monitoring, testing, and measurement instruments, as well as engineered electromechanical products used in industrial, aerospace, defense, energy, medical, and other specialized markets.

AMETEK operates through two primary business groups: Electronic Instruments and Electromechanical. Its products include process and power monitoring systems, analytical instruments, automation and control technologies, aerospace and defense equipment, precision motion-control systems, motors, thermal-management solutions, engineered materials, and specialty metal products.

The company traces its roots to 1930 and has expanded through the development and acquisition of specialized technology businesses.

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