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

AMETEK, Inc. (NYSE:AME) – Stock analysts at DA Davidson issued their Q2 2024 earnings estimates for AMETEK in a research note issued to investors on Friday, May 3rd. DA Davidson analyst M. Summerville anticipates 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.

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

AMETEK Price Performance

AMETEK stock opened at $169.58 on Monday. The firm has a market capitalization of $39.25 billion, a PE ratio of 29.80, a P/E/G ratio of 2.66 and a beta of 1.21. AMETEK has a 52 week low of $136.89 and a 52 week high of $186.32. The firm’s 50-day simple moving average is $179.26 and its 200 day simple moving average is $166.69. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share 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%. AMETEK’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were given a dividend of $0.28 per share. This is a positive change 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 yield of 0.66%. AMETEK’s dividend payout ratio is 19.68%.

Insiders Place Their Bets

In other news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction 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 completion of the sale, the director now directly owns 10,240 shares in the company, valued at approximately $1,863,680. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction that occurred 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 transaction, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Thomas A. Amato sold 780 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 10,240 shares of the company’s stock, valued at approximately $1,863,680. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock valued at $10,689,758 over the last quarter. Company insiders own 0.61% of the company’s stock.

Hedge Funds Weigh In On AMETEK

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

AMETEK Company Profile

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.