AMETEK (NYSE:AME) announced its quarterly earnings data on Tuesday. The technology company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.06, MarketWatch Earnings reports. AMETEK had a return on equity of 16.29% and a net margin of 18.77%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the business posted $1.02 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year.
AMETEK stock traded up $1.65 during mid-day trading on Tuesday, hitting $135.96. The company’s stock had a trading volume of 27,708 shares, compared to its average volume of 1,001,698. The company has a quick ratio of 1.47, a current ratio of 1.88 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $31.38 billion, a P/E ratio of 35.90, a P/E/G ratio of 3.73 and a beta of 1.36. AMETEK has a twelve month low of $75.22 and a twelve month high of $137.84. The stock’s fifty day moving average price is $129.29 and its two-hundred day moving average price is $120.04.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were issued a dividend of $0.20 per share. This is a boost from AMETEK’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, March 12th. This represents a $0.80 annualized dividend and a yield of 0.59%. AMETEK’s payout ratio is presently 19.09%.
Several research firms recently commented on AME. Wells Fargo & Company boosted their target price on AMETEK from $140.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, April 26th. KeyCorp raised their price objective on AMETEK from $140.00 to $141.00 and gave the company an “overweight” rating in a research report on Monday, April 19th. Rosenblatt Securities raised their target price on shares of AMETEK from $140.00 to $142.00 and gave the stock a “buy” rating in a report on Tuesday, March 30th. Zacks Investment Research raised AMETEK from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a report on Friday, April 16th. Finally, Morgan Stanley lifted their price target on AMETEK from $133.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, April 19th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $128.86.
In other news, insider John Wesley Hardin sold 4,148 shares of the business’s stock in a transaction dated Tuesday, March 16th. The shares were sold at an average price of $124.00, for a total transaction of $514,352.00. Following the transaction, the insider now owns 56,085 shares in the company, valued at approximately $6,954,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Ronald J. Oscher sold 13,000 shares of the company’s stock in a transaction dated Monday, March 29th. The stock was sold at an average price of $126.77, for a total transaction of $1,648,010.00. Following the sale, the insider now directly owns 43,550 shares in the company, valued at $5,520,833.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,128 shares of company stock worth $4,670,688. 0.74% of the stock is currently owned by company insiders.
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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