AMETEK (NYSE:AME) Posts Quarterly Earnings Results, Beats Estimates By $0.04 EPS

AMETEK (NYSE:AME) released its quarterly earnings data 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 return on equity of 17.41% and a net margin of 19.51%. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $1.64 earnings per share. The firm’s quarterly revenue was up 5.3% on a year-over-year basis.

AMETEK Stock Performance

Shares of AME traded down $4.91 during trading hours on Friday, reaching $178.43. 1,962,495 shares of the company traded hands, compared to its average volume of 1,144,114. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The business has a fifty day moving average price of $168.95 and a 200-day moving average price of $169.00. AMETEK has a 12-month low of $141.26 and a 12-month high of $186.32. The stock 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 Announces Dividend

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

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the 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 transaction, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AME. Robert W. Baird lowered 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. 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 research report on Friday, August 2nd. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. Mizuho raised their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Truist Financial lifted their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.