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

AMETEK (NYSE:AME) released its quarterly earnings data on Tuesday. The technology company reported $1.87 earnings per share 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 analysts’ expectations of $1.82 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.68 earnings per share.

AMETEK Stock Performance

Shares of NYSE AME traded up $0.60 during trading hours on Wednesday, hitting $181.10. 26,533 shares of the stock were exchanged, compared to its average volume of 1,300,821. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84. The company’s 50 day moving average is $184.84 and its 200 day moving average is $176.58. The firm has a market capitalization of $41.89 billion, a P/E ratio of 31.65, a P/E/G ratio of 2.67 and a beta of 1.16. AMETEK has a one year low of $149.03 and a one year high of $198.33.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a dividend of $0.28 per share. The ex-dividend date 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 19.51%.

Insider Buying and Selling at AMETEK

In other news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. This trade represents a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David F. Hermance sold 6,243 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 29,200 shares of company stock valued at $5,707,620 in the last ninety days. Company insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

AME has been the subject of several research reports. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Tuesday, January 28th. 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 note on Thursday, January 16th. KeyCorp raised their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Mizuho raised their price target on shares of AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Finally, Truist Financial raised their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $204.67.

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.