Harbour Investments Inc. Sells 57 Shares of AMETEK, Inc. (NYSE:AME)

Harbour Investments Inc. decreased its position in AMETEK, Inc. (NYSE:AME) by 21.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 211 shares of the technology company’s stock after selling 57 shares during the quarter. Harbour Investments Inc.’s holdings in AMETEK were worth $38,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of AME. Itau Unibanco Holding S.A. increased its position in AMETEK by 62.6% in the third quarter. Itau Unibanco Holding S.A. now owns 200 shares of the technology company’s stock worth $34,000 after purchasing an additional 77 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of AMETEK by 3,116.7% in the 4th quarter. Versant Capital Management Inc now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 187 shares in the last quarter. AdvisorNet Financial Inc increased its holdings in shares of AMETEK by 1,176.5% in the 4th quarter. AdvisorNet Financial Inc now owns 217 shares of the technology company’s stock worth $39,000 after buying an additional 200 shares during the last quarter. Geneos Wealth Management Inc. raised its position in shares of AMETEK by 42.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 233 shares of the technology company’s stock valued at $42,000 after buying an additional 70 shares in the last quarter. Finally, OFI Invest Asset Management bought a new position in shares of AMETEK in the 4th quarter valued at about $43,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

AMETEK Stock Performance

Shares of NYSE:AME opened at $178.99 on Tuesday. AMETEK, Inc. has a one year low of $149.03 and a one year high of $198.33. The firm has a market cap of $41.30 billion, a PE ratio of 30.18, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The firm’s 50 day simple moving average is $182.97 and its 200-day simple moving average is $180.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.75 and a current ratio of 1.24.

AMETEK (NYSE:AME) last issued its earnings results on Tuesday, February 4th. The technology company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.02. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.82 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.68 EPS. As a group, equities analysts predict that AMETEK, Inc. will post 7.15 EPS for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.31 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.24 dividend on an annualized basis and a yield of 0.69%. This is an increase from AMETEK’s previous quarterly dividend of $0.28. AMETEK’s dividend payout ratio (DPR) is presently 20.91%.

AMETEK declared that its Board of Directors has initiated a share repurchase program on Friday, February 7th that allows the company to buyback $1.25 billion in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.9% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

AME has been the topic of a number of recent research reports. Robert W. Baird decreased their price objective on AMETEK from $200.00 to $197.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and raised their price target for the stock from $195.00 to $225.00 in a research report on Monday, December 16th. StockNews.com upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a research report on Sunday, March 9th. BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company in a report on Thursday, January 16th. Finally, Truist Financial upped their price target on shares of AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $204.67.

Insider Buying and Selling at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,320 shares of AMETEK stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $189.41, for a total value of $250,021.20. Following the transaction, the director now owns 22,029 shares of the company’s stock, valued at $4,172,512.89. The trade was a 5.65 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by insiders.

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.