Bar Harbor Wealth Management Has $1.03 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Bar Harbor Wealth Management trimmed its position in AMETEK, Inc. (NYSE:AME) by 5.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,009 shares of the technology company’s stock after selling 366 shares during the quarter. Bar Harbor Wealth Management’s holdings in AMETEK were worth $1,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Banque Transatlantique SA acquired a new position in shares of AMETEK in the fourth quarter worth about $37,000. Minot DeBlois Advisors LLC acquired a new position in shares of AMETEK in the fourth quarter worth about $43,000. OFI Invest Asset Management acquired a new position in shares of AMETEK in the fourth quarter worth about $43,000. Quent Capital LLC boosted its holdings in shares of AMETEK by 60.9% in the fourth quarter. Quent Capital LLC now owns 251 shares of the technology company’s stock worth $45,000 after buying an additional 95 shares during the period. Finally, Ancora Advisors LLC boosted its holdings in shares of AMETEK by 15,950.0% in the fourth quarter. Ancora Advisors LLC now owns 321 shares of the technology company’s stock worth $58,000 after buying an additional 319 shares during the period. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Thomas A. Amato sold 710 shares of AMETEK stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $176.64, for a total value of $125,414.40. Following the transaction, the director now owns 10,560 shares of the company’s stock, valued at $1,865,318.40. This trade represents a 6.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on AME. Mizuho set a $212.00 price target on shares of AMETEK in a report on Friday, May 16th. Morgan Stanley began coverage on shares of AMETEK in a report on Monday, April 14th. They set an “equal weight” rating and a $170.00 price target for the company. Wall Street Zen upgraded shares of AMETEK from a “hold” rating to a “buy” rating in a report on Monday, May 12th. Truist Financial raised their price target on shares of AMETEK from $196.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Finally, Robert W. Baird decreased their price target on shares of AMETEK from $197.00 to $190.00 and set a “neutral” rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, AMETEK presently has an average rating of “Moderate Buy” and an average target price of $197.89.

AMETEK Price Performance

NYSE AME opened at $176.72 on Friday. The company has a quick ratio of 0.75, a current ratio of 1.24 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $40.80 billion, a PE ratio of 29.80, a price-to-earnings-growth ratio of 2.73 and a beta of 1.10. The company has a 50 day moving average price of $171.32 and a two-hundred day moving average price of $178.31. AMETEK, Inc. has a 12-month low of $145.02 and a 12-month high of $198.33.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, May 1st. The technology company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.69 by $0.06. The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.74 billion. AMETEK had a net margin of 19.83% and a return on equity of 16.94%. The company’s revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.64 earnings per share. As a group, equities analysts predict that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Friday, June 13th. AMETEK’s dividend payout ratio is 20.29%.

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.