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

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

AMETEK (NYSE:AME) last posted its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. The company 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 company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 EPS.

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

AMETEK Trading Up 0.9 %

Shares of AME stock opened at $168.05 on Monday. The firm has a market cap of $38.90 billion, a P/E ratio of 29.53, a PEG ratio of 2.66 and a beta of 1.21. AMETEK has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The firm’s 50-day simple moving average is $179.42 and its 200-day simple moving average is $166.49.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were given a $0.28 dividend. This is an increase from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. This represents a $1.12 annualized dividend and a yield of 0.67%. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Thomas A. Amato sold 780 shares of the stock in a transaction that occurred 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 sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Thomas A. Amato sold 780 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total transaction of $141,960.00. Following the completion of the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, CFO William Joseph Burke sold 5,973 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Insiders sold 59,881 shares of company stock valued at $10,689,758 over the last 90 days. 0.61% of the stock is owned by corporate insiders.

Institutional Trading of AMETEK

Hedge funds have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of AMETEK during the fourth quarter worth approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in AMETEK in the fourth quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in AMETEK in the fourth quarter worth $26,000. Bruce G. Allen Investments LLC acquired a new position in AMETEK in the fourth quarter worth $28,000. Finally, Rakuten Securities Inc. acquired a new position in AMETEK in the fourth quarter worth $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.