AMETEK (NYSE:AME) Announces Quarterly Earnings Results

AMETEK (NYSE:AME) issued its quarterly earnings results on Tuesday. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.85 by $0.02, Zacks reports. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.82 billion. During the same period in the prior year, the firm posted $1.68 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis.

AMETEK Trading Down 0.3 %

Shares of AMETEK stock opened at $180.05 on Thursday. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. AMETEK has a twelve month low of $149.03 and a twelve month high of $198.33. The firm has a market capitalization of $41.65 billion, a PE ratio of 31.37, a P/E/G ratio of 2.67 and a beta of 1.16. The firm’s 50-day moving average price is $184.54 and its 200 day moving average price is $176.61.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.12 annualized dividend and a dividend yield of 0.62%. AMETEK’s dividend payout ratio (DPR) is presently 19.51%.

Wall Street Analyst Weigh In

AME has been the topic of a number of research analyst reports. KeyCorp boosted their price target on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. BNP Paribas upgraded AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price objective for the company in a research note on Thursday, January 16th. StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial lifted their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. Finally, Bank of America raised AMETEK from a “neutral” rating to a “buy” rating and raised their target price for the stock from $195.00 to $225.00 in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $204.67.

Insider Activity

In related news, insider Tony J. Ciampitti sold 16,210 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total value of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares of the company’s stock, valued at approximately $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David F. Hermance sold 6,243 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock worth $5,707,620 over the last quarter. 0.61% of the stock is currently owned by corporate insiders.

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.