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

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

AMETEK Stock Performance

AME traded down $4.91 during trading on Friday, hitting $178.43. The company’s stock had a trading volume of 1,962,395 shares, compared to its average volume of 1,144,113. AMETEK has a one year low of $141.26 and a one year high of $186.32. The business’s 50 day simple moving average is $168.95 and its 200-day simple moving average is $169.00. 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 firm has a market cap of $41.31 billion, a PE ratio of 31.25, a P/E/G ratio of 2.77 and a beta of 1.17.

AMETEK Dividend Announcement

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

Insider Transactions at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction 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 transaction, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AME has been the subject of a number of recent analyst reports. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Robert W. Baird lowered their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. Finally, Truist Financial lifted their price target on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $195.00.

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.