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

AMETEK (NYSE:AME - Get Free Report) announced its quarterly earnings results on Thursday. The technology company reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.04, Briefing.com reports. The company had revenue of $1.71 billion during 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 for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.64 earnings per share.

AMETEK Price Performance

NYSE:AME traded down $4.91 during trading hours on Friday, reaching $178.43. 1,960,462 shares of the company's stock were exchanged, compared to its average volume of 1,144,114. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $41.31 billion, a P/E ratio of 31.09, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17. AMETEK has a 12 month low of $141.26 and a 12 month high of $186.32. The business's 50-day simple moving average is $169.17 and its two-hundred day simple moving average is $168.99.

AMETEK Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a dividend yield of 0.63%. AMETEK's dividend payout ratio (DPR) is 19.51%.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the firm's stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company's stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.61% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have commented on AME shares. TD Cowen lowered shares of AMETEK from a "hold" rating to a "sell" rating in a research note on Monday, October 7th. StockNews.com downgraded AMETEK from a "buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Robert W. Baird decreased their price target on AMETEK from $171.00 to $166.00 and set a "neutral" rating for the company in a research note on Wednesday, August 7th. Wolfe Research upgraded shares of AMETEK to a "hold" rating in a research note on Wednesday, September 18th. Finally, Truist Financial increased their target price on shares of AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $195.00.

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.