AMETEK, Inc. (NYSE:AME – Get Rating) – Investment analysts at Oppenheimer cut their Q2 2022 earnings per share (EPS) estimates for AMETEK in a research note issued on Tuesday, May 10th. Oppenheimer analyst C. Glynn now expects that the technology company will post earnings of $1.29 per share for the quarter, down from their previous forecast of $1.34.
AME has been the subject of several other research reports. Morgan Stanley decreased their price objective on AMETEK from $159.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, January 14th. Robert W. Baird decreased their price objective on AMETEK from $156.00 to $140.00 and set a “neutral” rating for the company in a research note on Tuesday. KeyCorp decreased their price objective on AMETEK from $155.00 to $145.00 in a research note on Wednesday, May 4th. StockNews.com started coverage on AMETEK in a research note on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research raised AMETEK from a “sell” rating to a “hold” rating and set a $134.00 price target for the company in a report on Tuesday, April 19th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $147.60.
AMETEK (NYSE:AME – Get Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The technology company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.06. The business had revenue of $1.46 billion for the quarter, compared to analysts’ expectations of $1.46 billion. AMETEK had a net margin of 18.02% and a return on equity of 17.82%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $1.07 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in shares of AMETEK during the 4th quarter worth about $25,000. Gryphon Financial Partners LLC purchased a new stake in shares of AMETEK during the 1st quarter worth about $25,000. Quent Capital LLC grew its holdings in shares of AMETEK by 177.8% during the 1st quarter. Quent Capital LLC now owns 200 shares of the technology company’s stock worth $27,000 after purchasing an additional 128 shares during the period. Covestor Ltd grew its holdings in shares of AMETEK by 84.3% during the 1st quarter. Covestor Ltd now owns 212 shares of the technology company’s stock worth $28,000 after purchasing an additional 97 shares during the period. Finally, Prospera Financial Services Inc purchased a new stake in shares of AMETEK during the 1st quarter worth about $29,000. 86.72% of the stock is owned by institutional investors.
In related news, Director Anthony James Conti sold 5,160 shares of the business’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $133.37, for a total value of $688,189.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thomas A. Amato sold 615 shares of the business’s stock in a transaction dated Monday, March 28th. The shares were sold at an average price of $133.03, for a total transaction of $81,813.45. The disclosure for this sale can be found here. Company insiders own 0.72% of the company’s stock.
AMETEK announced that its Board of Directors has initiated a share buyback program on Friday, May 6th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the technology company to buy up to 3.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 10th will be given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date of this dividend is Thursday, June 9th. AMETEK’s dividend payout ratio is currently 19.64%.
About AMETEK (Get Rating)
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. It operates in two segments, Electronic Instruments (EIG) and Electromechanical (EMG). 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; and instruments to the laboratory equipment, ultra-precision manufacturing, medical, and test and measurement markets.
- Get a free copy of the StockNews.com research report on AMETEK (AME)
- MarketBeat: Week in Review 5/9 – 5/13
- Is Electronic Arts (NASDAQ: EA) Suddenly A Safe Haven?
- Beyond Meat Stock Value is Improving
- The Travel Sector Is Getting Upgraded
- Carvana Insiders Buy Shares But Maybe You Shouldn’t
Receive News & Ratings for AMETEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMETEK and related companies with MarketBeat.com's FREE daily email newsletter.