AMETEK, Inc. (NYSE:AME) Shares Sold by TCW Group Inc.

Key Points

• TCW Group Inc. reduced its position in AMETEK, Inc. by 3.3%, selling 3,291 shares and ending the quarter with 96,618 shares valued at $16.63 million.
• AMETEK announced a quarterly dividend of $0.31, resulting in an annualized dividend yield of 0.69% and a payout ratio of 20.29%.
• Analysts have varied opinions on AMETEK, with recent ratings including upgrades to "buy" and target prices ranging from $170.00 to $212.00.

TCW Group Inc. cut its holdings in AMETEK, Inc. (NYSE:AME - Free Report) by 3.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 96,618 shares of the technology company's stock after selling 3,291 shares during the quarter. TCW Group Inc.'s holdings in AMETEK were worth $16,632,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. DAVENPORT & Co LLC raised its stake in shares of AMETEK by 0.8% in the first quarter. DAVENPORT & Co LLC now owns 7,125 shares of the technology company's stock worth $1,226,000 after purchasing an additional 60 shares during the last quarter. Alps Advisors Inc. raised its position in AMETEK by 1.0% during the first quarter. Alps Advisors Inc. now owns 6,260 shares of the technology company's stock valued at $1,078,000 after acquiring an additional 60 shares in the last quarter. EWA LLC raised its position in AMETEK by 4.9% during the first quarter. EWA LLC now owns 1,382 shares of the technology company's stock valued at $238,000 after acquiring an additional 65 shares in the last quarter. Buckhead Capital Management LLC grew its holdings in AMETEK by 0.3% in the first quarter. Buckhead Capital Management LLC now owns 22,830 shares of the technology company's stock valued at $3,930,000 after purchasing an additional 65 shares during the period. Finally, Signaturefd LLC grew its holdings in AMETEK by 1.5% in the first quarter. Signaturefd LLC now owns 4,625 shares of the technology company's stock valued at $796,000 after purchasing an additional 67 shares during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on AME shares. Melius lowered AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price objective on the stock. in a report on Monday, July 14th. Robert W. Baird dropped their target price on AMETEK from $197.00 to $190.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Mizuho set a $212.00 price target on AMETEK in a report on Friday, May 16th. Wall Street Zen upgraded AMETEK from a "hold" rating to a "buy" rating in a report on Monday, May 12th. Finally, Royal Bank Of Canada lifted their price target on AMETEK from $194.00 to $201.00 and gave the stock an "outperform" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, AMETEK has a consensus rating of "Moderate Buy" and a consensus price target of $197.30.

AMETEK Stock Up 5.1%

NYSE AME traded up $9.03 during trading hours on Thursday, hitting $185.79. 1,965,322 shares of the company were exchanged, compared to its average volume of 1,380,172. The company has a 50 day moving average of $179.23 and a two-hundred day moving average of $176.93. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 52-week low of $145.02 and a 52-week high of $198.33. The firm has a market cap of $42.89 billion, a price-to-earnings ratio of 30.44, a PEG ratio of 2.68 and a beta of 1.09.

AMETEK (NYSE:AME - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.09. The company had revenue of $1.78 billion for the quarter, compared to the consensus estimate of $1.74 billion. AMETEK had a return on equity of 16.75% and a net margin of 20.43%. AMETEK's revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.66 EPS. Equities research analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current year.

AMETEK Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given 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 dividend yield of 0.67%. AMETEK's dividend payout ratio is currently 20.29%.

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.