AMETEK (NYSE:AME) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

AMETEK (NYSE:AME) issued its quarterly 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 company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.57 EPS.

AMETEK Price Performance

AME traded down $6.39 during midday trading on Friday, hitting $152.74. 4,082,230 shares of the company traded hands, compared to its average volume of 1,213,603. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $35.35 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.57 and a beta of 1.18. AMETEK has a 52-week low of $136.89 and a 52-week high of $186.32. The business has a 50 day simple moving average of $168.88 and a two-hundred day simple moving average of $172.50.

AMETEK Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling at AMETEK

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

AMETEK Company Profile

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.