Bar Harbor Wealth Management Sells 679 Shares of AMETEK, Inc. (NYSE:AME)

Bar Harbor Wealth Management trimmed its holdings in AMETEK, Inc. (NYSE:AME) by 9.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,511 shares of the technology company’s stock after selling 679 shares during the quarter. Bar Harbor Wealth Management’s holdings in AMETEK were worth $1,118,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in AME. EverSource Wealth Advisors LLC raised its stake in shares of AMETEK by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock worth $157,000 after acquiring an additional 61 shares during the last quarter. MorganRosel Wealth Management LLC lifted its holdings in AMETEK by 1.6% during the 2nd quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock worth $648,000 after buying an additional 61 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in AMETEK by 4.8% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock valued at $224,000 after buying an additional 61 shares during the last quarter. First Horizon Advisors Inc. increased its stake in shares of AMETEK by 2.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock valued at $440,000 after buying an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC raised its position in shares of AMETEK by 2.9% during the second quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock worth $371,000 after acquiring an additional 63 shares during 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, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now owns 23,349 shares of the company’s stock, valued at approximately $4,006,454.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on AME shares. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. Royal Bank of Canada lowered their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Mizuho lifted their target price on shares of AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Robert W. Baird cut their price target on AMETEK from $171.00 to $166.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $193.29.

AMETEK Stock Performance

Shares of AMETEK stock opened at $169.40 on Friday. The stock’s fifty day simple moving average is $167.84 and its 200 day simple moving average is $169.69. The company has a current ratio of 1.26, a quick ratio of 0.76 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $39.21 billion, a PE ratio of 29.77, a PEG ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32.

AMETEK (NYSE:AME) last issued its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.02. The business had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a net margin of 19.51% and a return on equity of 17.41%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the business posted $1.57 earnings per share. On average, research analysts predict that AMETEK, Inc. will post 6.76 EPS for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were given a dividend of $0.28 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $1.12 annualized dividend and a yield of 0.66%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

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.