AMETEK, Inc. (NYSE:AME) to Post Q3 2024 Earnings of $1.77 Per Share, Seaport Res Ptn Forecasts

AMETEK, Inc. (NYSE:AME) – Research analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share (EPS) estimates for shares of AMETEK in a note issued to investors on Monday, June 17th. Seaport Res Ptn analyst S. Graham now expects that the technology company will earn $1.77 per share for the quarter, down from their previous forecast of $1.80. The consensus estimate for AMETEK’s current full-year earnings is $6.83 per share. Seaport Res Ptn also issued estimates for AMETEK’s Q4 2024 earnings at $1.83 EPS, Q1 2025 earnings at $1.78 EPS, Q2 2025 earnings at $1.84 EPS, Q3 2025 earnings at $1.97 EPS, Q4 2025 earnings at $2.01 EPS and FY2025 earnings at $7.60 EPS.

AME has been the subject of several other research reports. StockNews.com raised AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Truist Financial assumed coverage on AMETEK in a report on Thursday, March 14th. They issued a “buy” rating and a $210.00 target price for the company. Robert W. Baird dropped their target price on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a report on Wednesday, May 22nd. Finally, KeyCorp increased their target price on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $181.80.

AMETEK Trading Up 0.9 %

AMETEK stock opened at $168.49 on Tuesday. The business has a 50 day moving average price of $172.48 and a two-hundred day moving average price of $171.04. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The stock has a market cap of $39.00 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 2.67 and a beta of 1.20. AMETEK has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME) last announced its earnings results 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%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.49 EPS.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.28 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. AMETEK’s payout ratio is 19.68%.

Insider Buying and Selling at AMETEK

In other news, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total value of $5,070,370.00. Following the transaction, the chief financial officer now directly owns 106,512 shares in the company, valued at approximately $19,710,045.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO William Joseph Burke sold 27,400 shares of AMETEK stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the completion of the sale, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $185.38, for a total value of $1,277,453.58. Following the sale, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,981 shares of company stock worth $6,990,437. Insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Giverny Capital Inc. grew its stake in AMETEK by 0.5% in the third quarter. Giverny Capital Inc. now owns 897,056 shares of the technology company’s stock valued at $132,549,000 after acquiring an additional 4,556 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in AMETEK by 11.2% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock valued at $275,266,000 after acquiring an additional 167,602 shares during the period. Pacer Advisors Inc. grew its stake in AMETEK by 161.0% in the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock valued at $7,368,000 after acquiring an additional 27,562 shares during the period. Tyche Wealth Partners LLC acquired a new position in AMETEK in the fourth quarter valued at about $6,275,000. Finally, Cim LLC bought a new stake in shares of AMETEK in the fourth quarter valued at about $1,254,000. 87.43% of the stock is owned by institutional investors and hedge funds.

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.