AMETEK (NYSE:AME) Issues Quarterly Earnings Results

AMETEK (NYSE:AMEGet Rating) posted its quarterly earnings data on Tuesday. The technology company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.06, MarketWatch Earnings reports. AMETEK had a net margin of 17.85% and a return on equity of 17.45%. The firm had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. During the same period in the previous year, the company posted $1.07 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. AMETEK updated its Q2 guidance to $1.27-1.30 EPS and its FY22 guidance to $5.34-5.44 EPS.

NYSE AME traded down $1.38 during trading on Tuesday, reaching $124.94. The company’s stock had a trading volume of 19,803 shares, compared to its average volume of 1,018,109. The company has a current ratio of 1.36, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $28.88 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 2.49 and a beta of 1.26. AMETEK has a 12 month low of $121.80 and a 12 month high of $148.07. The firm has a 50 day moving average price of $130.39 and a 200 day moving average price of $135.52.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Thursday, March 10th were issued a dividend of $0.22 per share. This is an increase from AMETEK’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 9th. This represents a $0.88 annualized dividend and a dividend yield of 0.70%. AMETEK’s payout ratio is presently 20.71%.

In related news, Director Thomas A. Amato sold 615 shares of the stock in a transaction on Monday, March 28th. The shares were sold at an average price of $133.03, for a total transaction of $81,813.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Anthony James Conti sold 5,160 shares of the stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $133.37, for a total transaction of $688,189.20. The disclosure for this sale can be found here. Corporate insiders own 0.72% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. KB Financial Partners LLC bought a new position in shares of AMETEK in the fourth quarter valued at approximately $46,000. Toroso Investments LLC increased its stake in shares of AMETEK by 20.5% in the fourth quarter. Toroso Investments LLC now owns 2,444 shares of the technology company’s stock worth $359,000 after buying an additional 415 shares during the period. Sequoia Financial Advisors LLC purchased a new position in AMETEK during the 4th quarter valued at $247,000. Forum Financial Management LP bought a new stake in shares of AMETEK during the 4th quarter valued at $379,000. Finally, California State Teachers Retirement System boosted its stake in AMETEK by 1.5% in the 4th quarter. California State Teachers Retirement System now owns 409,724 shares of the technology company’s stock worth $60,246,000 after purchasing an additional 5,877 shares in the last quarter. Hedge funds and other institutional investors own 86.72% of the company’s stock.

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of AMETEK from $159.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, January 14th. Zacks Investment Research raised shares of AMETEK from a “sell” rating to a “hold” rating and set a $134.00 target price for the company in a research report on Tuesday, April 19th. KeyCorp cut their target price on shares of AMETEK from $160.00 to $155.00 and set an “overweight” rating for the company in a research report on Friday, March 18th. Finally, StockNews.com initiated coverage on shares of AMETEK in a report on Thursday, March 31st. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, AMETEK has a consensus rating of “Buy” and an average target price of $150.30.

About AMETEK (Get Rating)

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.

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Earnings History for AMETEK (NYSE:AME)

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