AMETEK, Inc. Expected to Post Q2 2024 Earnings of $1.65 Per Share (NYSE:AME)

AMETEK, Inc. (NYSE:AME) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of AMETEK in a report released on Friday, May 3rd. DA Davidson analyst M. Summerville forecasts that the technology company will post earnings per share of $1.65 for the quarter. The consensus estimate for AMETEK’s current full-year earnings is $6.81 per share.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. The firm had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 EPS.

AME has been the subject of several other research reports. Royal Bank of Canada lowered their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. Truist Financial started coverage on shares of AMETEK in a research report on Thursday, March 14th. They issued a “buy” rating and a $210.00 price objective for the company. Finally, KeyCorp lifted their target price on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $180.78.

AMETEK Price Performance

AME stock opened at $166.56 on Monday. The stock has a 50-day simple moving average of $179.64 and a 200-day simple moving average of $166.32. The firm has a market cap of $38.51 billion, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.59 and a current ratio of 1.11. AMETEK has a 1 year low of $136.89 and a 1 year high of $186.32.

Institutional Investors Weigh In On AMETEK

Institutional investors and hedge funds have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. bought a new position in shares of AMETEK during the fourth quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in AMETEK during the 4th quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK during the 4th quarter valued at approximately $26,000. Bruce G. Allen Investments LLC bought a new position in AMETEK during the 4th quarter worth $28,000. Finally, Rakuten Securities Inc. bought a new stake in AMETEK in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling

In other AMETEK news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the sale, the director now owns 10,240 shares in the company, valued at $1,863,680. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other AMETEK news, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the completion of the transaction, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas M. Montgomery sold 6,891 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the sale, the vice president now owns 21,543 shares of the company’s stock, valued at approximately $3,993,641.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,881 shares of company stock worth $10,689,758. Corporate insiders own 0.61% of the company’s stock.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were given a dividend of $0.28 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.