Hartford Investment Management Co. Sells 169 Shares of AMETEK, Inc. (NYSE:AME)

Hartford Investment Management Co. lessened its stake in AMETEK, Inc. (NYSE:AME) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 15,621 shares of the technology company’s stock after selling 169 shares during the quarter. Hartford Investment Management Co.’s holdings in AMETEK were worth $2,576,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC boosted its holdings in shares of AMETEK by 1.5% during the 3rd quarter. SeaCrest Wealth Management LLC now owns 5,660 shares of the technology company’s stock valued at $836,000 after purchasing an additional 82 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in AMETEK by 3.3% during the 4th quarter. CreativeOne Wealth LLC now owns 2,548 shares of the technology company’s stock valued at $356,000 after buying an additional 82 shares in the last quarter. Lincoln National Corp increased its stake in AMETEK by 6.1% in the 3rd quarter. Lincoln National Corp now owns 1,436 shares of the technology company’s stock worth $212,000 after acquiring an additional 83 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of AMETEK by 4.6% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $284,000 after acquiring an additional 85 shares in the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of AMETEK by 2.7% during the 4th quarter. Venturi Wealth Management LLC now owns 3,203 shares of the technology company’s stock valued at $528,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada decreased their price target on shares of AMETEK from $192.00 to $188.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 7th. Truist Financial initiated coverage on shares of AMETEK in a research report on Thursday, March 14th. They set a “buy” rating and a $210.00 target price on the stock. KeyCorp lifted their price target on AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 27th. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Saturday, March 2nd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $180.78.

Insider Buying and Selling at AMETEK

In other news, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the transaction, the chief financial officer now directly owns 106,512 shares of the company’s stock, valued at $19,710,045.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Steven W. Kohlhagen sold 1,400 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $180.59, for a total value of $252,826.00. Following the completion of the sale, the director now directly owns 28,054 shares of the company’s stock, valued at $5,066,271.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO William Joseph Burke sold 27,400 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $185.05, for a total transaction of $5,070,370.00. Following the transaction, the chief financial officer now directly owns 106,512 shares in the company, valued at approximately $19,710,045.60. The disclosure for this sale can be found here. Insiders sold a total of 59,881 shares of company stock valued at $10,689,758 in the last three months. Company insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.9 %

Shares of NYSE:AME opened at $179.43 on Friday. The firm has a market capitalization of $41.49 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 2.88 and a beta of 1.22. The business has a 50 day simple moving average of $176.13 and a two-hundred day simple moving average of $161.99. AMETEK, Inc. has a 1 year low of $133.12 and a 1 year high of $186.32. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.98 and a quick ratio of 0.59.

AMETEK (NYSE:AME) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. AMETEK had a return on equity of 17.96% and a net margin of 19.91%. The company had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the previous year, the business earned $1.52 EPS. AMETEK’s revenue was up 6.1% compared to the same quarter last year. On average, equities analysts predict that AMETEK, Inc. will post 6.82 EPS for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 8th were issued a dividend of $0.28 per share. This is a positive change from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. This represents a $1.12 dividend on an annualized basis and a yield of 0.62%. AMETEK’s dividend payout ratio (DPR) is presently 19.75%.

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.