Bar Harbor Wealth Management Sells 136 Shares of AMETEK, Inc. (NYSE:AME)

Bar Harbor Wealth Management reduced its holdings in AMETEK, Inc. (NYSE:AME) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,375 shares of the technology company’s stock after selling 136 shares during the quarter. Bar Harbor Wealth Management’s holdings in AMETEK were worth $1,149,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc increased its stake in AMETEK by 3,116.7% during the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after purchasing an additional 187 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in shares of AMETEK by 62.6% during the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after acquiring an additional 77 shares during the period. Princeton Global Asset Management LLC bought a new stake in AMETEK in the 3rd quarter valued at $44,000. Anchor Investment Management LLC boosted its stake in AMETEK by 366.1% in the 3rd quarter. Anchor Investment Management LLC now owns 261 shares of the technology company’s stock worth $45,000 after purchasing an additional 205 shares during the period. Finally, Quarry LP increased its holdings in AMETEK by 226.1% during the 3rd quarter. Quarry LP now owns 300 shares of the technology company’s stock worth $52,000 after purchasing an additional 208 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

Insider Buying and Selling at AMETEK

In other news, insider Tony J. Ciampitti sold 16,210 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $197.01, for a total transaction of $3,193,532.10. Following the completion of the sale, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. The trade was a 24.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total value of $1,192,350.57. Following the completion of the transaction, the insider now directly owns 36,731 shares in the company, valued at approximately $7,015,253.69. This represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock worth $5,707,620 over the last ninety days. Insiders own 0.61% of the company’s stock.

Analyst Upgrades and Downgrades

AME has been the topic of a number of research reports. StockNews.com upgraded AMETEK from a “hold” rating to a “buy” rating in a report on Thursday. Truist Financial boosted their target price on AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised their price target on shares of AMETEK from $166.00 to $186.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Mizuho increased their target price on shares of AMETEK from $190.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $202.50.

AMETEK Stock Performance

Shares of AME traded up $0.33 during midday trading on Monday, reaching $176.48. The stock had a trading volume of 729,429 shares, compared to its average volume of 883,854. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The firm has a 50 day simple moving average of $187.87 and a 200-day simple moving average of $174.78. The firm has a market cap of $40.82 billion, a PE ratio of 30.75, a P/E/G ratio of 3.08 and a beta of 1.16. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33.

AMETEK (NYSE:AME) last announced its quarterly earnings results on Thursday, October 31st. The technology company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The firm 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 business earned $1.64 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.63%. The ex-dividend date was Friday, December 6th. AMETEK’s dividend payout ratio is 19.51%.

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.