AMETEK (NYSE:AME) Releases Earnings Results, Beats Expectations By $0.02 EPS

AMETEK (NYSE:AME) released its quarterly earnings results on Thursday. The technology company reported $1.66 EPS for the quarter, topping the consensus estimate of $1.64 by $0.02, Briefing.com reports. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.57 EPS.

AMETEK Stock Performance

AMETEK stock traded down $6.39 during midday trading on Friday, reaching $152.74. 4,082,230 shares of the stock traded hands, compared to its average volume of 1,213,603. AMETEK has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The company has a current ratio of 1.26, a quick ratio of 0.66 and a debt-to-equity ratio of 0.20. The firm has a market cap of $35.35 billion, a price-to-earnings ratio of 26.84, a PEG ratio of 2.57 and a beta of 1.18. The firm has a fifty day moving average price of $168.88 and a two-hundred day moving average price of $172.56.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.28 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.73%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK 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 of the company’s stock, valued at approximately $4,315,029.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other AMETEK news, Director Steven W. Kohlhagen sold 1,440 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total transaction of $250,459.20. Following the transaction, the director now owns 24,809 shares of the company’s stock, valued at approximately $4,315,029.37. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven W. Kohlhagen sold 1,470 shares of the company’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 transaction 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 $4,467,579.80. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

AME has been the topic of a number of recent analyst reports. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Wednesday, May 22nd. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. 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 report on Friday. Royal Bank of Canada lowered their price objective on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a report on Friday. Finally, Robert W. Baird reduced their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $187.29.

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.