Analysts Offer Predictions for AMETEK, Inc.'s Q2 2024 Earnings (NYSE:AME)

AMETEK, Inc. (NYSE:AME - Free Report) - Investment analysts at Zacks Research raised their Q2 2024 earnings estimates for shares of AMETEK in a research report issued on Thursday, May 16th. Zacks Research analyst S. Mete now anticipates that the technology company will post earnings per share of $1.63 for the quarter, up from their previous estimate of $1.62. The consensus estimate for AMETEK's current full-year earnings is $6.84 per share. Zacks Research also issued estimates for AMETEK's Q3 2024 earnings at $1.71 EPS, Q4 2024 earnings at $1.81 EPS, FY2024 earnings at $6.78 EPS, Q1 2025 earnings at $1.71 EPS, Q2 2025 earnings at $1.79 EPS, Q3 2025 earnings at $1.86 EPS, Q4 2025 earnings at $2.01 EPS, FY2025 earnings at $7.37 EPS, Q1 2026 earnings at $1.79 EPS and FY2026 earnings at $7.88 EPS.

A number of other research firms also recently weighed in on AME. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a report on Monday. Truist Financial began coverage on shares of AMETEK in a report on Thursday, March 14th. They set a "buy" rating and a $210.00 target price on the stock. Robert W. Baird reduced their price target on AMETEK from $173.00 to $171.00 and set a "neutral" rating on the stock in a research report on Monday, May 6th. KeyCorp lifted their price objective on AMETEK from $182.00 to $205.00 and gave the company an "overweight" rating in a report on Tuesday, February 27th. Finally, Royal Bank of Canada cut their target price on AMETEK from $192.00 to $188.00 and set an "outperform" rating for the company in a research report on Wednesday, February 7th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $179.80.

AMETEK Stock Performance

AME traded down $1.11 during trading on Friday, hitting $166.80. The stock had a trading volume of 1,648,615 shares, compared to its average volume of 995,612. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.11 and a quick ratio of 0.66. The company has a 50 day moving average price of $177.74 and a 200-day moving average price of $167.74. AMETEK has a one year low of $136.89 and a one year high of $186.32. The firm has a market cap of $38.61 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.71 and a beta of 1.21.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The business had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter last year, the firm posted $1.49 EPS. The company's quarterly revenue was up 9.0% on a year-over-year basis.

AMETEK Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend is Friday, June 14th. AMETEK's dividend payout ratio is currently 19.68%.

Insider Activity at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 27,400 shares of the business's stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the sale, the chief financial officer now directly owns 106,512 shares of the company's stock, valued at approximately $19,710,045.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,470 shares of the company's stock in a transaction that occurred on 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 directly owns 26,249 shares in the company, valued at $4,467,579.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William Joseph Burke sold 27,400 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 106,512 shares in the company, valued at approximately $19,710,045.60. The disclosure for this sale can be found here. Insiders sold a total of 37,941 shares of company stock worth $6,992,804 in the last quarter. 0.61% of the stock is owned by insiders.

Hedge Funds Weigh In On AMETEK

A number of hedge funds have recently bought and sold shares of the company. Citizens Financial Group Inc. RI bought a new position in shares of AMETEK in the 1st quarter worth about $542,000. EdgePoint Investment Group Inc. increased its holdings in AMETEK by 1.1% in the first quarter. EdgePoint Investment Group Inc. now owns 945,183 shares of the technology company's stock worth $172,874,000 after purchasing an additional 10,428 shares in the last quarter. Plato Investment Management Ltd lifted its stake in AMETEK by 29,554.5% in the first quarter. Plato Investment Management Ltd now owns 9,786 shares of the technology company's stock valued at $1,790,000 after buying an additional 9,753 shares during the period. Comerica Bank boosted its holdings in shares of AMETEK by 0.4% during the 1st quarter. Comerica Bank now owns 74,825 shares of the technology company's stock worth $13,685,000 after buying an additional 314 shares in the last quarter. Finally, Tidal Investments LLC grew its position in shares of AMETEK by 15.1% during the 1st quarter. Tidal Investments LLC now owns 4,930 shares of the technology company's stock worth $902,000 after buying an additional 646 shares during the period. Institutional investors own 87.43% of the company's stock.

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.