AMETEK (NYSE:AME) Announces Quarterly Earnings Results

AMETEK (NYSE:AME) posted its earnings results on Thursday. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02, Briefing.com reports. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.57 EPS.

AMETEK Stock Performance

Shares of AMETEK stock traded down $6.39 during trading hours on Friday, reaching $152.74. 4,064,328 shares of the stock traded hands, compared to its average volume of 1,094,215. The company has a 50 day moving average price of $169.30 and a 200 day moving average price of $172.58. AMETEK has a one year low of $136.89 and a one year high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $35.35 billion, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.79 and a beta of 1.18.

AMETEK Dividend Announcement

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

Insider Buying and Selling

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the company’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction that occurred on 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 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 the company’s stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total transaction of $250,459.20. Following the completion of the transaction, 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. 0.61% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on AME shares. Royal Bank of Canada dropped their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research note on Monday. Truist Financial reduced their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research note on Friday. Robert W. Baird reduced their price target 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. Finally, Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $183.60.

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.