AMETEK (NYSE:AME) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

AMETEK (NYSE:AME) announced its earnings results on Tuesday. The technology company reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.02, Briefing.com reports. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the prior year, the company earned $0.83 EPS. The business’s revenue was up 6.7% compared to the same quarter last year.

Shares of AMETEK stock traded up $2.20 during trading on Tuesday, hitting $90.75. 1,561,900 shares of the company’s stock were exchanged, compared to its average volume of 1,203,816. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 0.53. The firm’s 50-day simple moving average is $88.98. AMETEK has a 52-week low of $63.14 and a 52-week high of $92.30. The company has a market cap of $20.34 billion, a PE ratio of 27.58, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24.

A number of analysts recently weighed in on the stock. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Berenberg Bank reissued a “buy” rating and issued a GBX 150 ($1.96) price objective on shares of Tharisa in a research report on Wednesday, May 15th. Zacks Investment Research lowered shares of Essential Properties Realty Trust from a “buy” rating to a “hold” rating in a research report on Thursday, June 13th. KeyCorp reissued a “hold” rating on shares of Ball in a research report on Thursday, May 2nd. Finally, Morgan Stanley set a $226.00 price objective on shares of S&P Global and gave the stock a “hold” rating in a research report on Friday, May 3rd. Fifteen research analysts have rated the stock with a buy rating, AMETEK has a consensus rating of “Buy” and an average price target of $91.50.

In related news, VP Thomas M. Montgomery sold 5,602 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $88.50, for a total transaction of $495,777.00. Following the transaction, the vice president now directly owns 26,419 shares in the company, valued at $2,338,081.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Zapico sold 58,760 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $86.35, for a total transaction of $5,073,926.00. Following the transaction, the insider now owns 258,226 shares in the company, valued at $22,297,815.10. The disclosure for this sale can be found here. Insiders sold 93,370 shares of company stock valued at $8,072,702 in the last ninety days. 0.80% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the business. CENTRAL TRUST Co increased its stake in AMETEK by 4.6% during the 2nd quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock worth $278,000 after buying an additional 137 shares during the period. Cornerstone Advisors Inc. increased its stake in AMETEK by 55.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock worth $32,000 after buying an additional 138 shares during the period. ETF Managers Group LLC increased its position in shares of AMETEK by 7.9% in the 1st quarter. ETF Managers Group LLC now owns 1,890 shares of the technology company’s stock valued at $157,000 after purchasing an additional 139 shares during the last quarter. Berman Capital Advisors LLC increased its position in shares of AMETEK by 51.3% in the 2nd quarter. Berman Capital Advisors LLC now owns 454 shares of the technology company’s stock valued at $41,000 after purchasing an additional 154 shares during the last quarter. Finally, Sapience Investments LLC increased its position in shares of AMETEK by 0.4% in the 1st quarter. Sapience Investments LLC now owns 39,405 shares of the technology company’s stock valued at $3,269,000 after purchasing an additional 155 shares during the last quarter. Institutional investors own 85.82% of the company’s stock.

About AMETEK

AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control 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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Earnings History for AMETEK (NYSE:AME)

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