Internet of Things Q3 Earnings: AMETEK (NYSE:AME) is the Best in the Biz

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They often specialize in nascent areas such as hardware and services for factory automation, fleet tracking, or smart home technologies. Those who play their cards right can generate recurring subscription revenues by providing cloud-based software services, boosting their margins. On the other hand, if the technologies these companies have invested in don’t pan out, they may have to make costly pivots.The 6 internet of things stocks we track reported a strong Q3. As a group, revenues beat analysts’ consensus estimates by 2.4% while next quarter’s revenue guidance was in line.In light of this news, share prices of the companies have held steady. On average, they are relatively unchanged since the latest earnings results.Started from its humble beginnings in motor repair, AMETEK (NYSE:AME) manufactures electronic devices used in industries like aerospace, power, and healthcare.AMETEK reported revenues of $1.89 billion, up 10.8% year on year. This print exceeded analysts’ expectations by 4.3%. Overall, it was an exceptional quarter for the company with a solid beat of analysts’ revenue estimates and an impressive beat of analysts’ organic revenue estimates."AMETEK delivered impressive results in the third quarter, highlighted by double digit growth in sales, orders and earnings per share, along with an outstanding 90 basis points of margin expansion excluding the impact of recent acquisitions," stated David A. Zapico, AMETEK Chairman and Chief Executive Officer.AMETEK Total RevenueInterestingly, the stock is up 6.9% since reporting and currently trades at $196.91.Is now the time to buy AMETEK? Access our full analysis of the earnings results here, it’s free for active Edge members.One of the first companies to address industrial automation, Rockwell Automation (NYSE:ROK) sells products that help customers extract more efficiency from their machinery.Rockwell Automation reported revenues of $2.32 billion, up 13.8% year on year, outperforming analysts’ expectations by 4.9%. The business had an exceptional quarter with a solid beat of analysts’ organic revenue estimates and an impressive beat of analysts’ adjusted operating income estimates.Rockwell Automation Total RevenueRockwell Automation scored the biggest analyst estimates beat and fastest revenue growth among its peers. The market seems content with the results as the stock is up 3.5% since reporting. 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