FY2024 Earnings Forecast for AMETEK, Inc. Issued By Seaport Res Ptn (NYSE:AME)

AMETEK, Inc. (NYSE:AME) – Investment analysts at Seaport Res Ptn decreased their FY2024 earnings per share (EPS) estimates for AMETEK in a research report issued on Monday, June 17th. Seaport Res Ptn analyst S. Graham now anticipates that the technology company will post earnings per share of $6.90 for the year, down from their prior forecast of $6.94. The consensus estimate for AMETEK’s current full-year earnings is $6.83 per share.

A number of other research analysts have also issued reports on AME. Truist Financial initiated coverage on AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 price objective for the company. Oppenheimer raised AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a research note on Wednesday, May 22nd. KeyCorp boosted their price objective on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Robert W. Baird dropped their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday, May 6th. Finally, StockNews.com lowered AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, AMETEK has a consensus rating of “Moderate Buy” and a consensus price target of $181.80.

AMETEK Price Performance

Shares of NYSE AME opened at $170.90 on Wednesday. AMETEK has a fifty-two week low of $136.89 and a fifty-two week high of $186.32. The business has a 50 day moving average price of $172.10 and a two-hundred day moving average price of $171.14. 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 firm has a market cap of $39.56 billion, a PE ratio of 30.04, a price-to-earnings-growth ratio of 2.70 and a beta of 1.20.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 EPS for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. The company had revenue of $1.74 billion for 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 company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $1.49 EPS.

Institutional Investors Weigh In On AMETEK

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

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,470 shares of AMETEK stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the sale, the director now owns 26,249 shares of the company’s stock, valued at $4,467,579.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,440 shares of AMETEK stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the completion of the sale, the director now directly owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Insiders have sold a total of 3,690 shares of company stock worth $642,613 over the last three months. Corporate insiders own 0.61% of the company’s stock.

AMETEK Dividend Announcement

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

About AMETEK

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.