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.
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.
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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