AMETEK, Inc. (NYSE:AME) Forecasted to Post Q1 2024 Earnings of $1.60 Per Share

AMETEK, Inc. (NYSE:AMEFree Report) – Analysts at DA Davidson issued their Q1 2024 earnings per share estimates for AMETEK in a research report issued to clients and investors on Wednesday, February 7th. DA Davidson analyst M. Summerville expects that the technology company will earn $1.60 per share for the quarter. The consensus estimate for AMETEK’s current full-year earnings is $6.33 per share. DA Davidson also issued estimates for AMETEK’s FY2025 earnings at $7.40 EPS.

AMETEK (NYSE:AMEGet Free Report) last posted its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.73 billion. AMETEK had a net margin of 19.68% and a return on equity of 18.19%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.52 EPS.

AME has been the topic of several other research reports. upgraded AMETEK from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. KeyCorp increased their price objective on shares of AMETEK from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Wednesday. Royal Bank of Canada reduced their price objective on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research note on Wednesday. Finally, TD Cowen cut AMETEK from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $165.00 to $160.00 in a research report on Monday, November 27th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $174.25.

Get Our Latest Stock Analysis on AMETEK

AMETEK Trading Up 0.4 %

AME opened at $166.72 on Thursday. AMETEK has a 52 week low of $131.52 and a 52 week high of $168.63. The company has a market capitalization of $38.48 billion, a P/E ratio of 30.20, a PEG ratio of 2.58 and a beta of 1.21. The stock’s fifty day moving average is $162.49 and its two-hundred day moving average is $155.91. The company has a quick ratio of 1.21, a current ratio of 1.86 and a debt-to-equity ratio of 0.22.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 810 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $155.09, for a total transaction of $125,622.90. Following the transaction, the director now owns 29,454 shares in the company, valued at $4,568,020.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On AMETEK

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in AMETEK by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 24,608,566 shares of the technology company’s stock valued at $3,277,369,000 after acquiring an additional 463,926 shares during the period. BlackRock Inc. increased its stake in shares of AMETEK by 5.4% during the second quarter. BlackRock Inc. now owns 17,085,162 shares of the technology company’s stock worth $2,765,746,000 after purchasing an additional 870,060 shares in the last quarter. State Street Corp raised its position in shares of AMETEK by 1.5% during the 2nd quarter. State Street Corp now owns 8,972,142 shares of the technology company’s stock worth $1,452,410,000 after purchasing an additional 134,989 shares during the last quarter. Geode Capital Management LLC lifted its stake in AMETEK by 2.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,847,872 shares of the technology company’s stock valued at $782,696,000 after buying an additional 114,598 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in AMETEK by 19.2% in the 3rd quarter. Morgan Stanley now owns 4,189,108 shares of the technology company’s stock worth $618,983,000 after buying an additional 674,549 shares during the last quarter. Hedge funds and other institutional investors own 85.70% of the company’s stock.

AMETEK Company Profile

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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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Earnings History and Estimates for AMETEK (NYSE:AME)

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