DA Davidson Comments on AMETEK, Inc.’s Q2 2024 Earnings (NYSE:AME)

AMETEK, Inc. (NYSE:AME) – Analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of AMETEK in a research note issued to investors 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 net margin of 19.57% and a return on equity of 17.74%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $1.49 EPS.

Several other analysts have also recently commented on the company. StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Royal Bank of Canada lowered their target price on AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday, February 7th. KeyCorp increased their price objective on shares of AMETEK from $182.00 to $205.00 and gave the company an “overweight” rating in a report on Tuesday, February 27th. Truist Financial assumed coverage on AMETEK in a report on Thursday, March 14th. They set a “buy” rating and a $210.00 target price on the stock. Finally, Robert W. Baird reduced their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

AMETEK Stock Up 0.9 %

NYSE AME opened at $169.58 on Monday. The stock’s 50 day simple moving average is $179.26 and its 200 day simple moving average is $166.69. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. AMETEK has a one year low of $136.89 and a one year high of $186.32. The firm has a market cap of $39.25 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.66 and a beta of 1.21.

AMETEK Increases Dividend

The business also recently disclosed 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 an increase 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 0.66%. AMETEK’s dividend payout ratio is currently 19.68%.

Insider Buying and Selling

In related news, Director Thomas A. Amato sold 780 shares of the company’s 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 directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO William Joseph Burke sold 27,400 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $185.05, for a total value of $5,070,370.00. Following the sale, the chief financial officer now owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Thomas A. Amato sold 780 shares of the stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $182.00, for a total transaction of $141,960.00. Following the transaction, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock worth $10,689,758 over the last ninety days. Company insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in AME. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK in the 4th quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. bought a new stake in AMETEK during the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in AMETEK in the fourth quarter valued at $26,000. Bruce G. Allen Investments LLC bought a new position in shares of AMETEK in the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. acquired a new position in shares of AMETEK during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 87.43% 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.