AMETEK (NYSE:AME) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

AMETEK (NYSE:AME) issued its quarterly earnings data on Thursday. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04, Briefing.com reports. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 EPS.

AMETEK Price Performance

Shares of NYSE AME opened at $178.43 on Friday. The company has a market capitalization of $41.31 billion, a PE ratio of 31.09, a P/E/G ratio of 2.77 and a beta of 1.17. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. AMETEK has a twelve month low of $141.26 and a twelve month high of $186.32. The firm has a fifty day simple moving average of $169.17 and a 200 day simple moving average of $168.92.

AMETEK Announces Dividend

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

Wall Street Analysts Forecast Growth

AME has been the topic of several research reports. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Robert W. Baird decreased their price target on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada reduced their price objective on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Finally, Truist Financial increased their price objective on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $195.00.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated Wednesday, September 25th. The stock was 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 directly owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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.