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

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

AMETEK Stock Down 1.9 %

NYSE:AME traded down $3.55 during trading hours on Friday, reaching $179.79. 895,631 shares of the stock were exchanged, compared to its average volume of 1,139,081. AMETEK has a twelve month low of $141.26 and a twelve month high of $186.32. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The firm has a 50 day moving average of $168.95 and a 200 day moving average of $169.00. The stock has a market cap of $41.63 billion, a PE ratio of 31.69, a PEG ratio of 2.77 and a beta of 1.17.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s dividend payout ratio (DPR) is currently 19.51%.

Insiders Place Their Bets

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on AME. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Truist Financial upped their price target on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird lowered their target price on AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Finally, Mizuho increased their target price on AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus target price of $193.57.

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.