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

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

AMETEK Trading Down 2.7 %

AMETEK stock opened at $178.43 on Friday. The stock has a market cap of $41.31 billion, a P/E ratio of 31.09, a PEG ratio of 2.77 and a beta of 1.17. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. AMETEK has a 1 year low of $141.26 and a 1 year high of $186.32. The firm’s 50 day moving average price is $169.17 and its 200-day moving average price is $168.92.

AMETEK Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on AME. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Mizuho raised their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial raised their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $195.00.

Insider Activity

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

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.