Hartford Investment Management Co. Sells 171 Shares of AMETEK, Inc. (NYSE:AME)

Hartford Investment Management Co. decreased its position in shares of AMETEK, Inc. (NYSE:AME) by 1.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,646 shares of the technology company’s stock after selling 171 shares during the quarter. Hartford Investment Management Co.’s holdings in AMETEK were worth $2,515,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its position in AMETEK by 7.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 899 shares of the technology company’s stock valued at $157,000 after purchasing an additional 61 shares during the period. MorganRosel Wealth Management LLC increased its holdings in AMETEK by 1.6% during the second quarter. MorganRosel Wealth Management LLC now owns 3,886 shares of the technology company’s stock valued at $648,000 after buying an additional 61 shares during the period. Commerzbank Aktiengesellschaft FI raised its stake in AMETEK by 4.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,340 shares of the technology company’s stock worth $224,000 after buying an additional 61 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in AMETEK by 2.4% during the second quarter. First Horizon Advisors Inc. now owns 2,639 shares of the technology company’s stock worth $440,000 after buying an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC boosted its position in AMETEK by 2.9% during the 2nd quarter. Checchi Capital Advisers LLC now owns 2,225 shares of the technology company’s stock valued at $371,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on AME shares. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Mizuho lifted their price objective on shares of AMETEK from $180.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird reduced their price objective on shares of AMETEK from $171.00 to $166.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Truist Financial raised their target price on shares of AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, StockNews.com downgraded AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $193.29.

AMETEK Price Performance

Shares of AME opened at $166.61 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.26 and a quick ratio of 0.76. The company’s fifty day moving average price is $168.26 and its 200-day moving average price is $169.35. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The firm has a market capitalization of $38.57 billion, a PE ratio of 29.28, a price-to-earnings-growth ratio of 2.77 and a beta of 1.17.

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

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date was Monday, September 16th. AMETEK’s dividend payout ratio is presently 19.68%.

Insider Buying and Selling at AMETEK

In related news, Director Steven W. Kohlhagen sold 1,460 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total transaction of $250,521.40. Following the completion of the transaction, the director now owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.61% of the company’s stock.

AMETEK Company 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.