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

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

AMETEK Trading Up 0.3 %

Shares of AME traded up $0.60 during mid-day trading on Wednesday, reaching $181.10. The company’s stock had a trading volume of 26,533 shares, compared to its average volume of 1,300,821. The stock has a market cap of $41.89 billion, a PE ratio of 31.65, a P/E/G ratio of 2.67 and a beta of 1.16. The company’s fifty day moving average price is $184.84 and its two-hundred day moving average price is $176.58. AMETEK has a 52 week low of $149.03 and a 52 week high of $198.33. 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 Announces Dividend

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

Wall Street Analysts Forecast Growth

AME has been the topic of a number of recent analyst reports. Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. BNP Paribas raised shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. Robert W. Baird lowered their price objective on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday. Truist Financial lifted their price objective on shares of AMETEK from $221.00 to $222.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Finally, KeyCorp lifted their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

Insider Buying and Selling

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $197.01, for a total value of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares in the company, valued at approximately $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the sale, the insider now directly owns 36,731 shares in the company, valued at $7,015,253.69. The trade was a 14.53 % decrease in their position. 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 in the last 90 days. 0.61% of the stock is owned by company insiders.

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.