Townsquare Capital LLC Acquires 3,737 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Townsquare Capital LLC increased its stake in AMETEK, Inc. by 8.9% in Q1, holding 45,599 shares worth approximately $7.85 million.
• AMETEK reported $1.78 EPS for the last quarter, exceeding expectations, and posted a revenue growth of 2.5% year-over-year at $1.78 billion.
• The company declared a quarterly dividend of $0.31 per share, representing an annualized dividend yield of 0.7% and a payout ratio of 19.97%.

Townsquare Capital LLC raised its stake in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,599 shares of the technology company's stock after purchasing an additional 3,737 shares during the period. Townsquare Capital LLC's holdings in AMETEK were worth $7,850,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital World Investors raised its stake in shares of AMETEK by 70.0% in the 4th quarter. Capital World Investors now owns 5,760,017 shares of the technology company's stock valued at $1,038,301,000 after acquiring an additional 2,371,062 shares during the period. Lazard Asset Management LLC raised its position in AMETEK by 393.1% in the 4th quarter. Lazard Asset Management LLC now owns 1,215,087 shares of the technology company's stock valued at $219,030,000 after purchasing an additional 968,661 shares during the last quarter. GAMMA Investing LLC raised its position in AMETEK by 18,368.3% during the 1st quarter. GAMMA Investing LLC now owns 973,280 shares of the technology company's stock worth $167,540,000 after buying an additional 968,010 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in AMETEK during the 1st quarter worth $113,317,000. Finally, Alteri Wealth LLC purchased a new position in AMETEK during the 4th quarter worth $114,769,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Down 0.2%

Shares of NYSE AME traded down $0.30 during mid-day trading on Friday, reaching $181.94. The company had a trading volume of 814,828 shares, compared to its average volume of 1,529,392. The stock has a fifty day moving average of $179.90 and a two-hundred day moving average of $176.91. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.63. The company has a market capitalization of $42.02 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 2.63 and a beta of 1.10. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33.

AMETEK (NYSE:AME - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The technology company reported $1.78 EPS for the quarter, topping analysts' consensus estimates of $1.69 by $0.09. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The firm had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company posted $1.66 earnings per share. The firm's revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts expect that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 0.7%. AMETEK's dividend payout ratio (DPR) is presently 19.97%.

Wall Street Analysts Forecast Growth

AME has been the topic of several analyst reports. Melius cut shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target on the stock. in a research note on Monday, July 14th. DA Davidson boosted their target price on shares of AMETEK from $210.00 to $215.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Truist Financial upped their price target on shares of AMETEK from $196.00 to $200.00 and gave the company a "buy" rating in a report on Monday, May 5th. KeyCorp upped their price target on shares of AMETEK from $195.00 to $205.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada increased their target price on shares of AMETEK from $209.00 to $212.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, AMETEK presently has a consensus rating of "Moderate Buy" and an average target price of $208.00.

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.