AMETEK, Inc. (NYSE:AME – Get Rating) – Investment analysts at Zacks Research upped their Q2 2023 EPS estimates for AMETEK in a note issued to investors on Tuesday, May 16th. Zacks Research analyst S. Mete now expects that the technology company will earn $1.49 per share for the quarter, up from their prior forecast of $1.43. The consensus estimate for AMETEK’s current full-year earnings is $6.12 per share. Zacks Research also issued estimates for AMETEK’s Q3 2023 earnings at $1.49 EPS, FY2023 earnings at $6.04 EPS, Q1 2024 earnings at $1.41 EPS, Q2 2024 earnings at $1.34 EPS, Q3 2024 earnings at $1.29 EPS, FY2024 earnings at $5.65 EPS, Q1 2025 earnings at $1.58 EPS and FY2025 earnings at $6.91 EPS.
AME has been the topic of several other research reports. Mizuho lifted their price target on shares of AMETEK from $153.00 to $161.00 in a research note on Wednesday, May 3rd. Wolfe Research lowered shares of AMETEK from an “outperform” rating to a “peer perform” rating in a research note on Thursday, February 23rd. Morgan Stanley raised their price objective on shares of AMETEK from $152.00 to $155.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, StockNews.com initiated coverage on AMETEK in a research note on Thursday. They set a “buy” rating for the company. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $153.50.
AMETEK Stock Down 0.1 %
AMETEK (NYSE:AME – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The technology company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.41 by $0.08. The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. AMETEK had a net margin of 18.97% and a return on equity of 18.42%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.33 EPS.
AMETEK Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Monday, June 12th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.68%. The ex-dividend date is Friday, June 9th. AMETEK’s payout ratio is 19.38%.
Insider Buying and Selling at AMETEK
In other news, Director Steven W. Kohlhagen sold 5,440 shares of the company’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $144.55, for a total transaction of $786,352.00. Following the sale, the director now owns 35,674 shares in the company, valued at approximately $5,156,676.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Steven W. Kohlhagen sold 5,440 shares of the company’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $144.55, for a total transaction of $786,352.00. Following the completion of the transaction, the director now directly owns 35,674 shares in the company, valued at $5,156,676.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anthony James Conti sold 3,440 shares of the stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $139.57, for a total value of $480,120.80. Following the completion of the sale, the director now directly owns 26,078 shares of the company’s stock, valued at approximately $3,639,706.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 11,660 shares of company stock valued at $1,660,974. Company insiders own 0.72% of the company’s stock.
Institutional Trading of AMETEK
Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of AMETEK by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 24,971,365 shares of the technology company’s stock valued at $2,832,003,000 after acquiring an additional 150,835 shares during the last quarter. BlackRock Inc. increased its position in shares of AMETEK by 4.2% in the first quarter. BlackRock Inc. now owns 16,215,102 shares of the technology company’s stock valued at $2,356,541,000 after acquiring an additional 658,629 shares during the period. FMR LLC increased its position in shares of AMETEK by 34.9% in the first quarter. FMR LLC now owns 10,042,152 shares of the technology company’s stock valued at $1,459,426,000 after acquiring an additional 2,597,135 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of AMETEK by 1.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,341,459 shares of the technology company’s stock worth $946,005,000 after buying an additional 143,765 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of AMETEK by 61.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,393,918 shares of the technology company’s stock worth $929,229,000 after buying an additional 2,440,787 shares during the last quarter. Institutional investors own 85.42% of the company’s stock.
About AMETEK
AMETEK, Inc engages in the manufacture of electronic instruments and electromechanical devices. It operates through the following two segments: Electronic Instruments (EIG) and Electromechanical (EMG). The EIG segment designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.
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