AMETEK (NYSE:AME) Issues FY24 Earnings Guidance

AMETEK (NYSE:AME) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $6.74-$6.86 for the period, compared to the consensus earnings per share estimate of $6.84. AMETEK also updated its Q2 guidance to $1.63-$1.65 EPS.

Analysts Set New Price Targets

A number of research firms recently weighed in on AME. Royal Bank of Canada dropped their price objective on shares of AMETEK from $192.00 to $188.00 and set an outperform rating on the stock in a report on Wednesday, February 7th. KeyCorp increased their target price on shares of AMETEK from $182.00 to $205.00 and gave the company an overweight rating in a research report on Tuesday, February 27th. Truist Financial assumed coverage on shares of AMETEK in a research report on Thursday, March 14th. They issued a buy rating and a $210.00 target price for the company. Finally, StockNews.com lowered shares of AMETEK from a buy rating to a hold rating in a research report on Saturday, March 2nd. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $180.78.

AMETEK Stock Up 2.0 %

Shares of NYSE AME traded up $3.22 during mid-day trading on Friday, reaching $166.56. The company had a trading volume of 2,065,100 shares, compared to its average volume of 956,196. The stock has a fifty day moving average of $179.64 and a two-hundred day moving average of $166.05. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.59 and a current ratio of 1.11. The company has a market capitalization of $38.51 billion, a price-to-earnings ratio of 29.27, a PEG ratio of 2.66 and a beta of 1.21. AMETEK has a 12-month low of $136.89 and a 12-month high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings data 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. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the firm earned $1.49 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts expect that AMETEK will post 6.81 EPS for the current year.

AMETEK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date was Thursday, March 7th. This is an increase from AMETEK’s previous quarterly dividend of $0.25. AMETEK’s dividend payout ratio (DPR) is 19.68%.

Insider Buying and Selling at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 5,973 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the transaction, the chief financial officer now owns 101,709 shares in the company, valued at $17,178,650.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Steven W. Kohlhagen sold 1,400 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the sale, the director now owns 28,054 shares in the company, valued at $5,066,271.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO William Joseph Burke sold 5,973 shares of AMETEK stock in a transaction on Monday, February 12th. The stock was sold at an average price of $168.90, for a total transaction of $1,008,839.70. Following the sale, the chief financial officer now owns 101,709 shares in the company, valued at approximately $17,178,650.10. The disclosure for this sale can be found here. Insiders have sold a total of 59,881 shares of company stock worth $10,689,758 over the last 90 days. Insiders own 0.61% of the company’s stock.

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.