AMETEK (NYSE:AME) Announces Earnings Results

AMETEK (NYSE:AME) posted its quarterly earnings results on Thursday. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.04, Briefing.com reports. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same quarter in the prior year, the company posted $1.64 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis.

AMETEK Stock Down 2.7 %

Shares of AME traded down $4.91 during midday trading on Friday, hitting $178.43. The company had a trading volume of 1,962,495 shares, compared to its average volume of 1,144,114. The company’s 50-day simple moving average is $168.95 and its 200-day simple moving average is $169.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.76 and a current ratio of 1.26. AMETEK has a 1 year low of $141.26 and a 1 year high of $186.32. The firm has a market capitalization of $41.31 billion, a P/E ratio of 31.25, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.28 per share. The ex-dividend date was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.63%. AMETEK’s dividend payout ratio (DPR) is 19.51%.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on AME. TD Cowen lowered shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Truist Financial upped their price target on AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. Wolfe Research raised AMETEK to a “hold” rating in a research note on Wednesday, September 18th. Robert W. Baird decreased their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. Finally, Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, AMETEK has an average rating of “Moderate Buy” and a consensus price target of $195.00.

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.