AMETEK, Inc. (NYSE:AME) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lessened its stake in AMETEK, Inc. (NYSE:AME) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 385,922 shares of the technology company’s stock after selling 14,995 shares during the quarter. TimesSquare Capital Management LLC’s holdings in AMETEK were worth $63,635,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. National Pension Service grew its position in shares of AMETEK by 3.3% during the 4th quarter. National Pension Service now owns 576,395 shares of the technology company’s stock valued at $95,042,000 after buying an additional 18,156 shares during the last quarter. Everpar Advisors LLC bought a new stake in shares of AMETEK during the 4th quarter valued at about $528,000. Charles Schwab Investment Management Inc. grew its position in AMETEK by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,220,628 shares of the technology company’s stock worth $201,269,000 after purchasing an additional 26,712 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in AMETEK in the 4th quarter worth about $238,000. Finally, Lincoln National Corp grew its position in AMETEK by 26.7% in the 4th quarter. Lincoln National Corp now owns 1,819 shares of the technology company’s stock worth $300,000 after purchasing an additional 383 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Trading Up 0.4 %

Shares of AME stock traded up $0.76 during trading hours on Thursday, reaching $169.90. 1,266,277 shares of the stock traded hands, compared to its average volume of 981,829. The business has a fifty day moving average price of $179.07 and a 200 day moving average price of $166.70. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $39.33 billion, a PE ratio of 29.86, a PEG ratio of 2.66 and a beta of 1.21.

AMETEK (NYSE:AME) last released its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter in the prior year, the company earned $1.49 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.66%. AMETEK’s payout ratio is presently 19.68%.

Insiders Place Their Bets

In other news, Director Thomas A. Amato sold 780 shares of the company’s stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the transaction, the director now directly owns 10,240 shares of the company’s stock, valued at $1,863,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Thomas M. Montgomery sold 6,891 shares of AMETEK stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the sale, the vice president now directly owns 21,543 shares in the company, valued at approximately $3,993,641.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas A. Amato sold 780 shares of AMETEK stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $182.00, for a total value of $141,960.00. Following the sale, the director now owns 10,240 shares of the company’s stock, valued at $1,863,680. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock worth $10,689,758 in the last quarter. 0.61% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Royal Bank of Canada decreased their target price on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating for the company in a research report on Wednesday, February 7th. Robert W. Baird reduced their price target on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a research note on Monday. KeyCorp upped their price target on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Finally, Truist Financial initiated coverage on shares of AMETEK in a research note on Thursday, March 14th. They issued a “buy” rating and a $210.00 price target for the company. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

About AMETEK

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.