Q3 2024 Earnings Estimate for AMETEK, Inc. (NYSE:AME) Issued By Seaport Res Ptn

AMETEK, Inc. (NYSE:AME) – Investment analysts at Seaport Res Ptn dropped their Q3 2024 EPS estimates for AMETEK in a research note issued to investors on Thursday, August 1st. Seaport Res Ptn analyst S. Graham now expects that the technology company will post earnings per share of $1.62 for the quarter, down from their previous estimate of $1.77. The consensus estimate for AMETEK’s current full-year earnings is $6.78 per share. Seaport Res Ptn also issued estimates for AMETEK’s FY2024 earnings at $6.76 EPS, Q1 2025 earnings at $1.72 EPS, Q2 2025 earnings at $1.83 EPS, Q3 2025 earnings at $1.85 EPS, Q4 2025 earnings at $1.94 EPS and FY2025 earnings at $7.34 EPS.

AME has been the subject of a number of other reports. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research report on Wednesday, May 22nd. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday. Truist Financial decreased their price objective on shares of AMETEK from $204.00 to $201.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. 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, August 2nd. Finally, Robert W. Baird cut their price target on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $187.00.

AMETEK Price Performance

Shares of NYSE AME opened at $156.95 on Monday. 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 company has a market cap of $36.33 billion, a price-to-earnings ratio of 27.58, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18. The stock’s 50-day moving average is $168.50 and its two-hundred day moving average is $172.60. AMETEK has a 1-year low of $136.89 and a 1-year high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings results on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter last year, the company posted $1.57 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year.

AMETEK Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is currently 19.68%.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the company’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 completion of the sale, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Steven W. Kohlhagen sold 1,470 shares of the firm’s 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 completion of the sale, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of the business’s stock in a transaction 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 sale, the director now owns 24,809 shares in the company, valued at $4,315,029.37. The disclosure for this sale can be found here. 0.61% of the stock is currently owned by corporate insiders.

Institutional Trading of AMETEK

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. acquired a new stake in AMETEK in the fourth quarter valued at $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK in the 4th quarter valued at about $26,000. Rakuten Securities Inc. purchased a new position in AMETEK during the 4th quarter valued at about $31,000. Washington Trust Advisors Inc. acquired a new position in AMETEK during the first quarter worth about $37,000. Finally, Family Firm Inc. purchased a new stake in shares of AMETEK in the second quarter valued at about $39,000. Institutional investors and hedge funds own 87.43% 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.