Clear Harbor Asset Management LLC Sells 342 Shares of AMETEK, Inc. (NYSE:AME)

Clear Harbor Asset Management LLC decreased its holdings in shares of AMETEK, Inc. (NYSE:AME) by 1.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,392 shares of the technology company’s stock after selling 342 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in AMETEK were worth $5,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AME. EdgePoint Investment Group Inc. lifted its stake in AMETEK by 87.9% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 1,964,236 shares of the technology company’s stock valued at $337,279,000 after purchasing an additional 918,737 shares during the last quarter. Meridiem Investment Management Ltd. bought a new position in shares of AMETEK in the 3rd quarter valued at $130,579,000. Principal Financial Group Inc. boosted its holdings in shares of AMETEK by 72.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,680,309 shares of the technology company’s stock valued at $288,526,000 after acquiring an additional 703,501 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in AMETEK during the 3rd quarter worth $79,782,000. Finally, Assenagon Asset Management S.A. increased its holdings in AMETEK by 434.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 541,517 shares of the technology company’s stock worth $97,614,000 after purchasing an additional 440,197 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Insider Activity

In other news, insider Tony J. Ciampitti sold 16,210 shares of the firm’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 value of $3,193,532.10. Following the transaction, the insider now owns 49,490 shares in the company, valued at $9,750,024.90. This trade represents a 24.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $195.90, for a total transaction of $1,321,737.30. Following the transaction, the insider now directly owns 30,460 shares in the company, valued at $5,967,114. This represents a 18.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,200 shares of company stock worth $5,707,620 over the last three months. 0.61% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AME has been the subject of several recent research reports. Truist Financial upped their price objective on AMETEK from $221.00 to $222.00 and gave the company a “buy” rating in a research note on Thursday, January 16th. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday. TD Cowen downgraded AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. KeyCorp raised their price objective on AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 price target on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $203.44.

AMETEK Trading Down 0.1 %

AME opened at $180.74 on Tuesday. The company has a market cap of $41.81 billion, a P/E ratio of 31.49, a price-to-earnings-growth ratio of 2.61 and a beta of 1.16. The company has a fifty day moving average price of $187.17 and a two-hundred day moving average price of $175.25. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. AMETEK, Inc. has a 1-year low of $149.03 and a 1-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 (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.04. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the company earned $1.64 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Analysts predict that AMETEK, Inc. will post 6.8 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend was Friday, December 6th. AMETEK’s dividend payout ratio (DPR) 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.