AMETEK (NYSE:AME) Announces Earnings Results

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

AMETEK Stock Down 0.3 %

AME stock opened at $180.05 on Thursday. The company’s 50 day moving average is $184.54 and its two-hundred day moving average is $176.61. AMETEK has a twelve month low of $149.03 and a twelve month 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. The stock has a market cap of $41.65 billion, a P/E ratio of 31.37, a PEG ratio of 2.67 and a beta of 1.16.

AMETEK Dividend Announcement

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 annualized dividend and a yield of 0.62%. AMETEK’s dividend payout ratio is currently 19.51%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Mizuho lifted their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BNP Paribas upgraded 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. Bank of America upgraded shares of AMETEK from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $195.00 to $225.00 in a report on Monday, December 16th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Robert W. Baird dropped their price target on shares of AMETEK from $200.00 to $197.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AMETEK currently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

Insider Activity at AMETEK

In other AMETEK news, insider Tony J. Ciampitti sold 16,210 shares of AMETEK stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of the 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 completion of the sale, the insider now directly owns 30,460 shares of the company’s stock, valued at $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 29,200 shares of company stock valued at $5,707,620 in the last ninety days. Insiders own 0.61% of the company’s stock.

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.