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

Clear Harbor Asset Management LLC decreased its position in shares of AMETEK, Inc. (NYSE:AME) by 1.2% in the 4th quarter, Holdings Channel reports. The fund 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 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Oddo BHF Asset Management Sas purchased a new stake in shares of AMETEK during the third quarter worth $3,724,000. Everence Capital Management Inc. purchased a new stake in shares of AMETEK in the fourth quarter worth about $999,000. BNP Paribas Financial Markets grew its stake in AMETEK by 23.2% during the third quarter. BNP Paribas Financial Markets now owns 355,828 shares of the technology company’s stock valued at $61,099,000 after acquiring an additional 67,025 shares in the last quarter. Taurus Asset Management LLC increased its holdings in AMETEK by 2.9% during the 3rd quarter. Taurus Asset Management LLC now owns 115,033 shares of the technology company’s stock worth $19,752,000 after acquiring an additional 3,210 shares during the period. Finally, Sawgrass Asset Management LLC lifted its stake in AMETEK by 36.5% in the 3rd quarter. Sawgrass Asset Management LLC now owns 74,757 shares of the technology company’s stock worth $12,837,000 after purchasing an additional 20,001 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. StockNews.com cut shares of AMETEK from a “buy” rating to a “hold” rating in a report on Friday. Bank of America upgraded AMETEK from a “neutral” rating to a “buy” rating and lifted their price target for the company from $195.00 to $225.00 in a research report on Monday, December 16th. KeyCorp upped their price objective on shares of AMETEK from $205.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. TD Cowen cut shares of AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Finally, BNP Paribas upgraded shares of AMETEK from a “neutral” rating to an “outperform” rating and set a $210.00 target price for the company 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $203.44.

Insiders Place Their Bets

In related news, insider Emanuela Speranza sold 6,747 shares of AMETEK stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $195.90, for a total value of $1,321,737.30. Following the sale, the insider now owns 30,460 shares in the company, valued at $5,967,114. The trade was a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David F. Hermance sold 6,243 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the completion of the transaction, the insider now owns 36,731 shares of the company’s stock, valued at $7,015,253.69. This trade represents a 14.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,200 shares of company stock valued at $5,707,620 in the last quarter. Insiders own 0.61% of the company’s stock.

AMETEK Stock Down 0.1 %

Shares of NYSE:AME opened at $180.74 on Tuesday. AMETEK, Inc. has a 12-month low of $149.03 and a 12-month high of $198.33. The company has a current ratio of 1.39, a quick ratio of 0.84 and a debt-to-equity ratio of 0.18. The stock’s 50-day moving average price is $187.17 and its 200-day moving average price is $175.25. The stock has a market capitalization 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.

AMETEK (NYSE:AME) last posted 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 period last year, the company earned $1.64 EPS. AMETEK’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts anticipate that AMETEK, Inc. will post 6.8 earnings per share for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were given a dividend of $0.28 per share. The ex-dividend date was Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.62%. AMETEK’s payout ratio is currently 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.