Townsquare Capital LLC Purchases 6,184 Shares of AMETEK, Inc. (NYSE:AME)

Townsquare Capital LLC grew its position in AMETEK, Inc. (NYSE:AME - Free Report) by 17.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,862 shares of the technology company's stock after purchasing an additional 6,184 shares during the period. Townsquare Capital LLC's holdings in AMETEK were worth $7,547,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. lifted its position in shares of AMETEK by 9.7% in the fourth quarter. Rockefeller Capital Management L.P. now owns 12,241 shares of the technology company's stock worth $2,207,000 after buying an additional 1,085 shares during the last quarter. Sterling Capital Management LLC raised its holdings in AMETEK by 18.5% in the 4th quarter. Sterling Capital Management LLC now owns 40,577 shares of the technology company's stock worth $7,314,000 after acquiring an additional 6,321 shares during the period. Treasurer of the State of North Carolina grew its position in shares of AMETEK by 3.2% in the fourth quarter. Treasurer of the State of North Carolina now owns 123,717 shares of the technology company's stock valued at $22,301,000 after purchasing an additional 3,833 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of AMETEK by 573.4% during the 4th quarter. APG Asset Management N.V. now owns 151,258 shares of the technology company's stock worth $26,331,000 after purchasing an additional 128,795 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in AMETEK by 215.5% in the 4th quarter. Renaissance Technologies LLC now owns 327,050 shares of the technology company's stock worth $58,954,000 after buying an additional 223,400 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at AMETEK

In other AMETEK news, Director Steven W. Kohlhagen sold 1,320 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $189.41, for a total value of $250,021.20. Following the completion of the sale, the director now directly owns 22,029 shares in the company, valued at $4,172,512.89. This represents a 5.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas A. Amato sold 710 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $176.64, for a total value of $125,414.40. Following the sale, the director now directly owns 10,560 shares in the company, valued at approximately $1,865,318.40. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.57% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird decreased their price target on shares of AMETEK from $200.00 to $197.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. StockNews.com downgraded shares of AMETEK from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Morgan Stanley initiated coverage on AMETEK in a report on Monday. They set an "equal weight" rating and a $170.00 price objective on the stock. BNP Paribas raised AMETEK from a "neutral" rating to an "outperform" rating and set a $210.00 price objective for the company in a report on Thursday, January 16th. Finally, Truist Financial cut their price target on shares of AMETEK from $216.00 to $196.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $198.60.

AMETEK Trading Down 0.5 %

AMETEK stock traded down $0.86 during mid-day trading on Friday, hitting $157.66. The stock had a trading volume of 1,698,788 shares, compared to its average volume of 1,281,519. The stock has a market capitalization of $36.38 billion, a PE ratio of 26.59, a P/E/G ratio of 2.73 and a beta of 1.14. AMETEK, Inc. has a 12 month low of $145.02 and a 12 month high of $198.33. The company has a current ratio of 1.24, a quick ratio of 0.75 and a debt-to-equity ratio of 0.15. The stock has a 50-day simple moving average of $174.83 and a two-hundred day simple moving average of $179.69.

AMETEK (NYSE:AME - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.85 by $0.02. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm had revenue of $1.76 billion for the quarter, compared to analysts' expectations of $1.82 billion. During the same period last year, the firm earned $1.68 earnings per share. The business's revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK declared that its Board of Directors has authorized a share buyback program on Friday, February 7th that authorizes the company to repurchase $1.25 billion in shares. This repurchase authorization authorizes the technology company to purchase up to 2.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

AMETEK Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.31 per share. This is a positive change from AMETEK's previous quarterly dividend of $0.28. The ex-dividend date was Friday, March 14th. This represents a $1.24 annualized dividend and a yield of 0.79%. AMETEK's dividend payout ratio (DPR) is presently 20.91%.

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.