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

by · The Cerbat Gem

AMETEK (NYSE:AME – Get Free Report) released its quarterly earnings data on Thursday. The technology company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.62 by $0.04, Briefing.com reports. The business 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 company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share.

AMETEK Trading Down 2.7 %

AME stock traded down $4.91 during trading on Friday, reaching $178.43. The company had a trading volume of 1,962,395 shares, compared to its average volume of 1,144,113. AMETEK has a 52 week low of $141.26 and a 52 week high of $186.32. The company has a market cap of $41.31 billion, a P/E ratio of 31.25, a PEG ratio of 2.77 and a beta of 1.17. The business has a 50 day moving average of $168.95 and a 200 day moving average of $169.00. 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 Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AME shares. Robert W. Baird reduced their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Redburn Atlantic raised shares of AMETEK to a “strong-buy” rating in a report on Friday, August 2nd. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Truist Financial upped their target price on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, three have given 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $195.00.

View Our Latest Report on AMETEK

Insider Transactions at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 0.00 % 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. Corporate insiders own 0.61% of the company’s stock.

AMETEK Company Profile

(Get Free Report)

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.

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