TimesSquare Capital Management LLC Reduces Holdings in AMETEK, Inc. (NYSE:AME)

TimesSquare Capital Management LLC lowered its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 351,587 shares of the technology company's stock after selling 4,505 shares during the quarter. TimesSquare Capital Management LLC owned 0.15% of AMETEK worth $60,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Colonial River Investments LLC bought a new stake in AMETEK during the third quarter valued at about $248,000. Axxcess Wealth Management LLC purchased a new stake in AMETEK during the third quarter valued at approximately $248,000. Guerra Pan Advisors LLC purchased a new stake in AMETEK during the third quarter valued at approximately $205,000. Assetmark Inc. raised its holdings in shares of AMETEK by 9.4% in the third quarter. Assetmark Inc. now owns 68,204 shares of the technology company's stock worth $11,711,000 after buying an additional 5,873 shares during the period. Finally, Leavell Investment Management Inc. raised its holdings in shares of AMETEK by 7.3% in the third quarter. Leavell Investment Management Inc. now owns 4,456 shares of the technology company's stock worth $765,000 after buying an additional 304 shares during the period. Institutional investors own 87.43% of the company's stock.

Wall Street Analysts Forecast Growth

AME has been the topic of several research analyst reports. StockNews.com raised AMETEK from a "hold" rating to a "buy" rating in a research note on Monday, November 4th. Robert W. Baird boosted their target price on AMETEK from $166.00 to $186.00 and gave the stock a "neutral" rating in a research note on Monday, November 4th. Truist Financial boosted their price objective on AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a report on Friday, November 1st. Mizuho lifted their price target on AMETEK from $190.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada cut their price objective on AMETEK from $216.00 to $215.00 and set an "outperform" rating for the company in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $197.86.

AMETEK Trading Up 1.0 %

AME traded up $1.97 during trading hours on Friday, reaching $190.92. The company's stock had a trading volume of 832,913 shares, compared to its average volume of 1,261,577. AMETEK, Inc. has a fifty-two week low of $147.12 and a fifty-two week high of $192.20. The stock has a market cap of $44.16 billion, a PE ratio of 33.26, a P/E/G ratio of 3.10 and a beta of 1.16. The business's 50-day moving average is $170.91 and its 200-day moving average is $169.21. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.39 and a quick ratio of 0.84.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, topping analysts' consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The company had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.71 billion. During the same period in the prior year, the firm earned $1.64 earnings per share. The firm's revenue was up 5.3% compared to the same quarter last year. As a group, equities research analysts predict that AMETEK, Inc. will post 6.81 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Friday, December 6th. AMETEK's payout ratio is currently 19.51%.

Insider Activity

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the sale, the director now directly owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.61% of the company's stock.

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.