Townsquare Capital LLC Raises Stock Position in AMETEK, Inc. (NYSE:AME)

Townsquare Capital LLC grew its holdings in shares of AMETEK, Inc. (NYSE:AME) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,678 shares of the technology company’s stock after buying an additional 3,041 shares during the quarter. Townsquare Capital LLC’s holdings in AMETEK were worth $6,126,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Family Firm Inc. bought a new stake in shares of AMETEK in the 2nd quarter valued at approximately $39,000. Industrial Alliance Investment Management Inc. bought a new stake in AMETEK in the second quarter worth $42,000. Princeton Global Asset Management LLC bought a new stake in AMETEK in the third quarter worth $44,000. Crewe Advisors LLC boosted its stake in AMETEK by 168.8% during the second quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock worth $49,000 after buying an additional 184 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in shares of AMETEK in the second quarter valued at $50,000. Institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

Shares of AME stock opened at $195.10 on Friday. The stock has a market capitalization of $45.13 billion, a price-to-earnings ratio of 33.99, a P/E/G ratio of 3.22 and a beta of 1.16. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $198.33. The stock has a fifty day simple moving average of $178.58 and a two-hundred day simple moving average of $171.43.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.64 earnings per share. On average, analysts predict that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Friday, December 6th. AMETEK’s payout ratio is 19.51%.

Insider Buying and Selling

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total transaction of $250,521.40. Following the sale, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the transaction, the insider now owns 49,490 shares of the company’s stock, valued at $9,750,024.90. This represents a 24.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,660 shares of company stock valued at $5,958,141 over the last 90 days. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on AME. KeyCorp lifted their price target on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Wolfe Research upgraded AMETEK to a “hold” rating in a report on Wednesday, September 18th. Redburn Atlantic raised AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a research report on Monday, October 7th. Finally, Robert W. Baird lifted their target price on AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.29.

AMETEK Profile

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.