AMETEK, Inc. $AME Shares Sold by Townsquare Capital LLC

Townsquare Capital LLC decreased its stake in AMETEK, Inc. (NYSE:AME) by 70.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,463 shares of the technology company’s stock after selling 3,529 shares during the period. Townsquare Capital LLC’s holdings in AMETEK were worth $275,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AME. Biltmore Wealth Management LLC raised its position in AMETEK by 1.1% in the 3rd quarter. Biltmore Wealth Management LLC now owns 4,771 shares of the technology company’s stock valued at $897,000 after purchasing an additional 54 shares during the last quarter. Baker Tilly Wealth Management LLC raised its stake in shares of AMETEK by 3.9% during the 3rd quarter. Baker Tilly Wealth Management LLC now owns 1,663 shares of the technology company’s stock worth $313,000 after buying an additional 63 shares in the last quarter. SouthState Corp lifted its holdings in AMETEK by 47.4% in the second quarter. SouthState Corp now owns 202 shares of the technology company’s stock valued at $37,000 after acquiring an additional 65 shares during the period. CX Institutional lifted its stake in shares of AMETEK by 3.7% in the third quarter. CX Institutional now owns 1,869 shares of the technology company’s stock valued at $351,000 after purchasing an additional 66 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of AMETEK by 3.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 2,335 shares of the technology company’s stock valued at $423,000 after acquiring an additional 69 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on AME shares. Robert W. Baird lifted their target price on shares of AMETEK from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. Wall Street Zen upgraded AMETEK from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Truist Financial increased their price target on shares of AMETEK from $219.00 to $229.00 and gave the stock a “buy” rating in a research note on Wednesday, October 8th. Melius Research set a $235.00 price objective on AMETEK in a report on Monday, January 5th. Finally, Mizuho raised their target price on shares of AMETEK from $225.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, AMETEK has an average rating of “Moderate Buy” and a consensus target price of $229.82.

Insider Activity at AMETEK

In related news, insider Thomas C. Marecic sold 14,310 shares of the stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $202.11, for a total transaction of $2,892,194.10. Following the completion of the sale, the insider directly owned 42,589 shares of the company’s stock, valued at $8,607,662.79. This represents a 25.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas M. Montgomery sold 6,388 shares of the stock in a transaction on Monday, December 22nd. The shares were sold at an average price of $205.05, for a total value of $1,309,859.40. Following the sale, the vice president owned 22,116 shares of the company’s stock, valued at $4,534,885.80. This trade represents a 22.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 137,088 shares of company stock worth $27,212,340 in the last 90 days. Corporate insiders own 0.57% of the company’s stock.

AMETEK Stock Performance

Shares of AME opened at $224.04 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.16 and a quick ratio of 0.72. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $227.79. The business’s fifty day moving average price is $207.72 and its 200 day moving average price is $194.01. The stock has a market capitalization of $51.57 billion, a PE ratio of 35.34, a price-to-earnings-growth ratio of 3.09 and a beta of 1.04.

AMETEK (NYSE:AME) last issued its earnings results on Thursday, October 30th. The technology company reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. AMETEK had a return on equity of 16.66% and a net margin of 20.50%.The company had revenue of $1.89 billion during the quarter, compared to the consensus estimate of $1.81 billion. During the same period in the previous year, the firm posted $1.66 earnings per share. AMETEK’s quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Shareholders of record on Friday, December 5th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Friday, December 5th. AMETEK’s payout ratio is 19.56%.

About AMETEK

AMETEK, Inc is a global manufacturer of electronic instruments and electromechanical devices that serves a broad range of industries. Headquartered in Berwyn, Pennsylvania, the company designs and produces precision instruments, electronic measurement devices, specialty sensors, and electric motors and motion control systems. Its product portfolio includes analytical and monitoring instruments, calibration equipment, power supplies, embedded electronics, and industrial motors and drives used for critical applications.

The company operates through two primary business platforms — an electronic instruments group focused on analytical, test and measurement and sensor products, and an electromechanical group that supplies motors, actuators, and related power and motion solutions.