AMETEK (NYSE:AME) Releases Earnings Results, Beats Estimates By $0.10 EPS

AMETEK (NYSE:AME) issued its quarterly earnings data on Tuesday. The technology company reported $2.21 EPS for the quarter, beating the consensus estimate of $2.11 by $0.10, Zacks reports. AMETEK had a net margin of 20.04% and a return on equity of 16.93%. During the same quarter in the previous year, the company earned $1.89 earnings per share. The company’s quarterly revenue was up 17.3% compared to the same quarter last year.

AMETEK Stock Up 3.5%

Shares of AMETEK stock opened at $250.46 on Tuesday. AMETEK has a 1 year low of $188.47 and a 1 year high of $261.16. The firm has a market cap of $57.40 billion, a price-to-earnings ratio of 36.05, a PEG ratio of 2.35 and a beta of 0.96. The company has a 50-day moving average of $243.59 and a 200 day moving average of $234.20. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.21 and a quick ratio of 0.76.

AMETEK Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a $0.34 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $1.36 dividend on an annualized basis and a yield of 0.5%. AMETEK’s dividend payout ratio is 19.88%.

Insider Buying and Selling at AMETEK

In other news, insider David Hermance sold 6,608 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $254.00, for a total value of $1,678,432.00. Following the sale, the insider directly owned 42,509 shares of the company’s stock, valued at approximately $10,797,286. This represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on AME. Royal Bank Of Canada increased their price target on shares of AMETEK from $260.00 to $291.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. BNP Paribas Exane lifted their price objective on shares of AMETEK from $280.00 to $290.00 and gave the stock an “outperform” rating in a report on Friday, September 11th. Mizuho upped their target price on shares of AMETEK from $270.00 to $285.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 5th. TD Cowen reissued a “buy” rating on shares of AMETEK in a research note on Thursday, August 6th. Finally, Rothschild & Co Redburn raised their price target on AMETEK from $265.00 to $275.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.19.

AMETEK Company Profile

AMETEK, Inc is a global manufacturer of industrial technology solutions. The company develops and produces advanced analytical, monitoring, testing, and measurement instruments, as well as engineered electromechanical products used in industrial, aerospace, defense, energy, medical, and other specialized markets.

AMETEK operates through two primary business groups: Electronic Instruments and Electromechanical. Its products include process and power monitoring systems, analytical instruments, automation and control technologies, aerospace and defense equipment, precision motion-control systems, motors, thermal-management solutions, engineered materials, and specialty metal products.

The company traces its roots to 1930 and has expanded through the development and acquisition of specialized technology businesses.