TCW Group Inc. Sells 9,834 Shares of AMETEK, Inc. (NYSE:AME)

TCW Group Inc. reduced its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 8.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,805 shares of the technology company's stock after selling 9,834 shares during the quarter. TCW Group Inc.'s holdings in AMETEK were worth $17,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of AME. Sequoia Financial Advisors LLC lifted its position in shares of AMETEK by 6.1% in the second quarter. Sequoia Financial Advisors LLC now owns 5,151 shares of the technology company's stock worth $859,000 after purchasing an additional 296 shares in the last quarter. Swedbank AB lifted its position in AMETEK by 223.8% in the 2nd quarter. Swedbank AB now owns 67,858 shares of the technology company's stock worth $11,313,000 after buying an additional 46,903 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AMETEK by 68.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 152,132 shares of the technology company's stock valued at $25,362,000 after buying an additional 61,677 shares during the period. Portside Wealth Group LLC grew its holdings in shares of AMETEK by 8.4% during the 2nd quarter. Portside Wealth Group LLC now owns 2,641 shares of the technology company's stock valued at $440,000 after acquiring an additional 205 shares in the last quarter. Finally, Sawgrass Asset Management LLC acquired a new position in shares of AMETEK in the second quarter worth $9,128,000. Institutional investors and hedge funds own 87.43% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on AME. Mizuho upped their target price on AMETEK from $190.00 to $200.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. StockNews.com upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Wednesday, December 4th. Wolfe Research upgraded shares of AMETEK to a "hold" rating in a research note on Wednesday, September 18th. KeyCorp increased 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. Finally, Truist Financial lifted their price objective on shares of AMETEK from $219.00 to $221.00 and gave the company a "buy" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $199.29.

Insider Transactions at AMETEK

In other AMETEK news, insider David F. Hermance sold 6,243 shares of the firm's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares in the company, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company's stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,660 shares of company stock valued at $5,958,141. 0.61% of the stock is owned by corporate insiders.

AMETEK Stock Performance

AME stock traded down $0.25 on Thursday, reaching $188.41. 774,243 shares of the company were exchanged, compared to its average volume of 1,150,722. The firm has a market capitalization of $43.58 billion, a PE ratio of 32.89, a PEG ratio of 3.13 and a beta of 1.15. AMETEK, Inc. has a 12 month low of $149.03 and a 12 month high of $198.33. The stock's fifty day moving average price is $182.48 and its 200 day moving average price is $172.84. 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 posted its quarterly earnings data on Thursday, October 31st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter in the previous year, the firm posted $1.64 EPS. The business's revenue was up 5.3% compared to the same quarter last year. On average, research analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

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

AMETEK Company 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.