AMETEK, Inc. (NYSE:AME – Free Report) – Research analysts at DA Davidson upped their FY2023 earnings per share (EPS) estimates for shares of AMETEK in a report issued on Wednesday, November 1st. DA Davidson analyst M. Summerville now expects that the technology company will post earnings of $6.33 per share for the year, up from their previous estimate of $6.25. The consensus estimate for AMETEK’s current full-year earnings is $6.28 per share. DA Davidson also issued estimates for AMETEK’s Q4 2023 earnings at $1.63 EPS and FY2024 earnings at $6.75 EPS.
Several other equities research analysts have also recently weighed in on the company. Seaport Res Ptn reissued a “buy” rating on shares of AMETEK in a research report on Monday, August 7th. Mizuho upped their target price on AMETEK from $161.00 to $166.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. BNP Paribas initiated coverage on AMETEK in a research note on Thursday, October 5th. They issued a “neutral” rating and a $159.00 target price for the company. KeyCorp upped their target price on AMETEK from $165.00 to $176.00 and gave the company an “overweight” rating in a research note on Wednesday, August 2nd. Finally, Royal Bank of Canada increased their price objective on AMETEK from $183.00 to $186.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $173.75.
AMETEK Stock Up 0.9 %
AME opened at $143.70 on Thursday. AMETEK has a 1-year low of $128.57 and a 1-year high of $164.75. The company has a current ratio of 1.86, a quick ratio of 1.34 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $33.15 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 2.45 and a beta of 1.19. The business has a 50 day moving average of $150.12 and a 200-day moving average of $151.21.
AMETEK (NYSE:AME – Get Free Report) last announced its earnings results on Tuesday, October 31st. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.58 by $0.06. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.66 billion. AMETEK had a return on equity of 18.19% and a net margin of 19.68%. The company’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.45 earnings per share.
Insider Transactions at AMETEK
In related news, Director Steven W. Kohlhagen sold 1,565 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $160.37, for a total value of $250,979.05. Following the transaction, the director now owns 31,909 shares in the company, valued at $5,117,246.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,565 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $160.37, for a total value of $250,979.05. Following the transaction, the director now owns 31,909 shares in the company, valued at $5,117,246.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO William Joseph Burke sold 33,930 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $160.29, for a total value of $5,438,639.70. Following the transaction, the chief financial officer now owns 101,937 shares in the company, valued at approximately $16,339,481.73. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,140 shares of company stock worth $5,940,876. Insiders own 0.72% of the company’s stock.
Hedge Funds Weigh In On AMETEK
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AME. Resurgent Financial Advisors LLC acquired a new stake in shares of AMETEK during the fourth quarter worth about $28,000. Fiduciary Alliance LLC acquired a new stake in AMETEK in the 2nd quarter valued at approximately $34,000. Covestor Ltd raised its position in AMETEK by 84.3% in the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock valued at $28,000 after buying an additional 97 shares during the last quarter. TFC Financial Management Inc. acquired a new stake in AMETEK in the 1st quarter valued at approximately $33,000. Finally, Quarry LP acquired a new stake in AMETEK in the 1st quarter valued at approximately $35,000. Institutional investors own 85.70% of the company’s stock.
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices in North America, Europe, Asia, and South America. 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.Its EMG segment offers engineered electrical connectors and electronics packaging to protect sensitive devices and mission-critical electronics; precision motion control products for data storage, medical devices, business equipment, automation, and other applications; high-purity powdered metals, strips and foils, specialty clad metals, and metal matrix composites; motor-blower systems and heat exchangers for use in thermal management, military, commercial aircraft, and military ground vehicles; and motors for use in commercial appliances, fitness equipment, food and beverage machines, hydraulic pumps, and industrial blowers.
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