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RBC Capital Reiterates Ametek (AME) Outperform Recommendation

Fintel reports that on September 21, 2023, RBC Capital reiterated coverage of Ametek (NYSE:AME) with a Outperform recommendation.

Analyst Price Forecast Suggests 17.15% Upside

As of August 31, 2023, the average one-year price target for Ametek is 176.93. The forecasts range from a low of 157.56 to a high of $204.75. The average price target represents an increase of 17.15% from its latest reported closing price of 151.03.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Ametek is 6,494MM, an increase of 1.14%. The projected annual non-GAAP EPS is 6.03.

What is the Fund Sentiment?

There are 1691 funds or institutions reporting positions in Ametek. This is an increase of 29 owner(s) or 1.74% in the last quarter. Average portfolio weight of all funds dedicated to AME is 0.39%, a decrease of 1.29%. Total shares owned by institutions decreased in the last three months by 0.89% to 239,523K shares. The put/call ratio of AME is 0.72, indicating a bullish outlook.

What are Other Shareholders Doing?

AME / Ametek Inc Shares Held by Institutions

Massachusetts Financial Services holds 8,300K shares representing 3.60% ownership of the company. In it’s prior filing, the firm reported owning 8,571K shares, representing a decrease of 3.26%. The firm increased its portfolio allocation in AME by 3.89% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,186K shares representing 3.11% ownership of the company. In it’s prior filing, the firm reported owning 7,125K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in AME by 3.65% over the last quarter.

Price T Rowe Associates holds 6,890K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 6,394K shares, representing an increase of 7.20%. The firm increased its portfolio allocation in AME by 152.08% over the last quarter.

VFINX – Vanguard 500 Index Fund Investor Shares holds 5,487K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 5,359K shares, representing an increase of 2.34%. The firm increased its portfolio allocation in AME by 3.30% over the last quarter.

VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 5,342K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 5,374K shares, representing a decrease of 0.60%. The firm increased its portfolio allocation in AME by 6.29% over the last quarter.

Ametek Background Information
(This description is provided by the company.)

AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2019 sales of approximately $5.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies – Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions – with a disciplined focus on cash generation and capital deployment. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.

Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.

Click to Learn More

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

Fintel reports that on September 21, 2023, RBC Capital reiterated coverage of Ametek (NYSE:AME) with a Outperform recommendation. Analyst Price Forecast Suggests 17.15% Upside As of August 31, 2023, the average one-year price target for Ametek is 176.93. The forecasts range from a low of 157.56 to a high of $204.75. The average price target represents an increase of 17.15% from its latest reported closing price of 151.03.

See our leaderboard of companies with the largest price target upside. The projected annual revenue for Ametek is 6,494MM, an increase of 1.14%. The projected annual non-GAAP EPS is 6.03. What is the Fund Sentiment? There are 1691 funds or institutions reporting positions in Ametek. This is an increase of 29 owner(s) or 1.74% in the last quarter. Average portfolio weight of all funds dedicated to AME is 0.39%, a decrease of 1.29%. Total shares owned by institutions decreased in the last three months by 0.89% to 239,523K shares. The put/call ratio of AME is 0.72, indicating a bullish outlook. What are Other Shareholders Doing? Massachusetts Financial Services holds 8,300K shares representing 3.60% ownership of the company. In it’s prior filing, the firm reported owning 8,571K shares, representing a decrease of 3.26%. The firm increased its portfolio allocation in AME by 3.89% over the last quarter. VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 7,186K shares representing 3.11% ownership of the company. In it’s prior filing, the firm reported owning 7,125K shares, representing an increase of 0.85%. The firm increased its portfolio allocation in AME by 3.65% over the last quarter.

Price T Rowe Associates holds 6,890K shares representing 2.99% ownership of the company. In it’s prior filing, the firm reported owning 6,394K shares, representing an increase of 7.20%. The firm increased its portfolio allocation in AME by 152.08% over the last quarter. VFINX – Vanguard 500 Index Fund Investor Shares holds 5,487K shares representing 2.38% ownership of the company. In it’s prior filing, the firm reported owning 5,359K shares, representing an increase of 2.34%. The firm increased its portfolio allocation in AME by 3.30% over the last quarter. VIMSX – Vanguard Mid-Cap Index Fund Investor Shares holds 5,342K shares representing 2.32% ownership of the company. In it’s prior filing, the firm reported owning 5,374K shares, representing a decrease of 0.60%. The firm increased its portfolio allocation in AME by 6.29% over the last quarter. Ametek Background Information(This description is provided by the company.) AMETEK is a leading global manufacturer of electronic instruments and electromechanical devices with 2019 sales of approximately $5.0 billion. The AMETEK Growth Model integrates the Four Growth Strategies – Operational Excellence, New Product Development, Global and Market Expansion, and Strategic Acquisitions – with a disciplined focus on cash generation and capital deployment. AMETEK’s objective is double-digit percentage growth in earnings per share over the business cycle and a superior return on total capital. The common stock of AMETEK is a component of the S&P 500.

Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
Click to Learn MoreThis story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/rbc-capital-reiterates-ametek-ame-outperform-recommendation-0 RBC Capital Reiterates Ametek (AME) Outperform Recommendation

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