AMETEK (NYSE:AME) Announces Quarterly Earnings Results

AMETEK (NYSE:AME) posted its earnings results on Thursday. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02, Briefing.com reports. The firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.57 EPS.

AMETEK Stock Down 4.0 %

AMETEK stock traded down $6.39 during trading hours on Friday, hitting $152.74. The company had a trading volume of 4,082,230 shares, compared to its average volume of 1,213,603. AMETEK has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.66. The firm has a market capitalization of $35.35 billion, a P/E ratio of 26.84, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The firm’s fifty day moving average is $168.88 and its 200-day moving average is $172.56.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio is currently 19.68%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AME shares. Oppenheimer upgraded AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research report on Wednesday, May 22nd. Robert W. Baird cut their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Truist Financial lowered their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating on the stock in a research note on Friday. Royal Bank of Canada cut their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday. Finally, StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average target price of $187.29.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total transaction of $250,194.00. Following the completion of the sale, the director now directly owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now owns 26,249 shares in the company, valued at $4,467,579.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the sale, the director now owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

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.