AMETEK, Inc. (NYSE:AME) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC trimmed its holdings in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,667 shares of the technology company's stock after selling 92,315 shares during the quarter. TimesSquare Capital Management LLC owned 0.10% of AMETEK worth $41,428,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AME. DAVENPORT & Co LLC grew its stake in AMETEK by 0.8% in the 1st quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after acquiring an additional 60 shares in the last quarter. Sowell Financial Services LLC bought a new position in AMETEK in the first quarter worth approximately $293,000. Wealth Enhancement Advisory Services LLC increased its holdings in AMETEK by 10.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 115,194 shares of the technology company's stock worth $19,829,000 after purchasing an additional 10,685 shares during the period. National Bank of Canada FI raised its position in AMETEK by 17.4% during the 4th quarter. National Bank of Canada FI now owns 142,093 shares of the technology company's stock valued at $25,616,000 after purchasing an additional 21,009 shares in the last quarter. Finally, Fenimore Asset Management Inc lifted its holdings in shares of AMETEK by 1.6% in the 1st quarter. Fenimore Asset Management Inc now owns 277,371 shares of the technology company's stock worth $47,747,000 after buying an additional 4,502 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on AME shares. Mizuho set a $212.00 target price on shares of AMETEK in a report on Friday, May 16th. Robert W. Baird dropped their price objective on shares of AMETEK from $197.00 to $190.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Truist Financial upped their target price on AMETEK from $196.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Royal Bank Of Canada lifted their price target on AMETEK from $194.00 to $201.00 and gave the company an "outperform" rating in a report on Friday, May 2nd. Finally, Morgan Stanley started coverage on AMETEK in a research note on Monday, April 14th. They set an "equal weight" rating and a $170.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $197.30.

AMETEK Stock Up 1.5%

Shares of AME stock traded up $2.64 during trading hours on Thursday, reaching $179.69. 1,241,136 shares of the company's stock were exchanged, compared to its average volume of 1,308,502. AMETEK, Inc. has a 1 year low of $145.02 and a 1 year high of $198.33. The company has a current ratio of 1.41, a quick ratio of 0.86 and a debt-to-equity ratio of 0.15. The stock has a market cap of $41.49 billion, a PE ratio of 29.41, a PEG ratio of 2.65 and a beta of 1.09. The stock's fifty day moving average price is $179.29 and its two-hundred day moving average price is $176.92.

AMETEK (NYSE:AME - Get Free Report) last released its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.06. The company had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a net margin of 20.43% and a return on equity of 16.75%. AMETEK's revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.64 EPS. Research analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.24 annualized dividend and a yield of 0.69%. AMETEK's payout ratio is presently 20.29%.

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.