Analysts expect AMETEK, Inc. (NYSE:AME) to announce $1.32 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for AMETEK’s earnings, with estimates ranging from $1.32 billion to $1.33 billion. AMETEK reported sales of $1.21 billion during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Tuesday, July 30th.
According to Zacks, analysts expect that AMETEK will report full-year sales of $5.25 billion for the current financial year, with estimates ranging from $5.24 billion to $5.27 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.46 billion, with estimates ranging from $5.42 billion to $5.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow AMETEK.
AMETEK (NYSE:AME) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. AMETEK had a net margin of 16.14% and a return on equity of 18.56%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same period in the previous year, the firm earned $0.79 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year.
In related news, Director Thomas A. Amato sold 1,790 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $83.57, for a total value of $149,590.30. Following the completion of the transaction, the director now owns 9,370 shares of the company’s stock, valued at approximately $783,050.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO William Joseph Burke sold 16,322 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $86.51, for a total transaction of $1,412,016.22. Following the completion of the transaction, the chief financial officer now directly owns 86,727 shares of the company’s stock, valued at approximately $7,502,752.77. The disclosure for this sale can be found here. Insiders sold a total of 93,370 shares of company stock valued at $8,072,702 in the last three months. 0.80% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Clark Capital Management Group Inc. acquired a new position in AMETEK in the 2nd quarter valued at about $474,000. Nisa Investment Advisors LLC raised its stake in AMETEK by 1.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 75,575 shares of the technology company’s stock valued at $6,865,000 after purchasing an additional 865 shares during the last quarter. CENTRAL TRUST Co raised its stake in AMETEK by 4.6% in the 2nd quarter. CENTRAL TRUST Co now owns 3,103 shares of the technology company’s stock valued at $278,000 after purchasing an additional 137 shares during the last quarter. Smith Salley & Associates raised its stake in AMETEK by 4.9% in the 2nd quarter. Smith Salley & Associates now owns 100,194 shares of the technology company’s stock valued at $9,102,000 after purchasing an additional 4,645 shares during the last quarter. Finally, Diversified Trust Co raised its stake in AMETEK by 4.3% in the 2nd quarter. Diversified Trust Co now owns 4,200 shares of the technology company’s stock valued at $382,000 after purchasing an additional 175 shares during the last quarter. 85.73% of the stock is owned by hedge funds and other institutional investors.
Shares of AMETEK stock traded up $1.41 on Friday, hitting $91.00. The company’s stock had a trading volume of 1,154,292 shares, compared to its average volume of 1,198,326. AMETEK has a 52-week low of $63.14 and a 52-week high of $92.30. The company has a quick ratio of 1.27, a current ratio of 1.91 and a debt-to-equity ratio of 0.53. The business has a fifty day moving average of $86.96. The stock has a market cap of $20.73 billion, a P/E ratio of 27.66, a P/E/G ratio of 2.29 and a beta of 1.24.
The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 0.62%. The ex-dividend date was Thursday, June 13th. AMETEK’s payout ratio is 17.02%.
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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