AMETEK, Inc. (NYSE:AME) – Analysts at KeyCorp raised their Q3 2019 earnings estimates for AMETEK in a research report issued on Wednesday, May 1st. KeyCorp analyst S. Barger now expects that the technology company will post earnings per share of $1.01 for the quarter, up from their prior forecast of $1.00. KeyCorp currently has a “Overweight” rating and a $94.00 target price on the stock. KeyCorp also issued estimates for AMETEK’s Q4 2019 earnings at $1.05 EPS, FY2019 earnings at $4.08 EPS, Q1 2020 earnings at $1.03 EPS, Q4 2020 earnings at $1.11 EPS and FY2020 earnings at $4.28 EPS.
AMETEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 EPS for the quarter, beating the Zacks’ consensus estimate of $0.97 by $0.03. AMETEK had a net margin of 16.05% and a return on equity of 17.72%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the prior year, the firm posted $0.79 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year.
NYSE AME opened at $87.35 on Friday. AMETEK has a 12 month low of $63.14 and a 12 month high of $88.76. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.96 and a current ratio of 1.46. The firm has a market cap of $20.06 billion, a price-to-earnings ratio of 26.55, a P/E/G ratio of 2.28 and a beta of 1.21.
Large investors have recently modified their holdings of the business. Nissay Asset Management Corp Japan ADV increased its stake in AMETEK by 96.9% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 232,600 shares of the technology company’s stock valued at $19,299,000 after buying an additional 114,485 shares during the period. Systematic Financial Management LP acquired a new position in AMETEK during the 1st quarter valued at about $4,831,000. Stephens Inc. AR increased its stake in AMETEK by 121.5% during the 1st quarter. Stephens Inc. AR now owns 15,589 shares of the technology company’s stock valued at $1,293,000 after buying an additional 8,550 shares during the period. Smith Salley & Associates increased its stake in AMETEK by 4.3% during the 1st quarter. Smith Salley & Associates now owns 95,549 shares of the technology company’s stock valued at $7,927,000 after buying an additional 3,927 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in AMETEK by 55.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 388 shares of the technology company’s stock valued at $32,000 after buying an additional 138 shares during the period. 85.96% of the stock is currently owned by institutional investors.
In other AMETEK news, CEO David A. Zapico sold 31,200 shares of the stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $78.80, for a total transaction of $2,458,560.00. Following the sale, the chief executive officer now directly owns 223,085 shares of the company’s stock, valued at $17,579,098. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas C. Marecic sold 17,097 shares of the stock in a transaction on Wednesday, February 13th. The stock was sold at an average price of $79.00, for a total transaction of $1,350,663.00. Following the sale, the insider now directly owns 42,319 shares in the company, valued at $3,343,201. The disclosure for this sale can be found here. Insiders have sold 113,133 shares of company stock worth $9,017,070 over the last three months. 0.80% of the stock is owned by corporate insiders.
AMETEK declared that its board has approved a stock buyback plan on Wednesday, February 13th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the technology company to reacquire up to 2.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.
AMETEK Company Profile
AMETEK, Inc manufactures and sells electronic instruments and electromechanical devices worldwide. The company's Electronic Instruments segment offers advanced instruments for the process, aerospace, power, and industrial markets; process control 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.
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