Connecticut Wealth Management LLC Decreases Position in AMETEK, Inc. (NYSE:AME)

Connecticut Wealth Management LLC lessened its holdings in AMETEK, Inc. (NYSE:AME) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,324 shares of the technology company’s stock after selling 68 shares during the quarter. Connecticut Wealth Management LLC’s holdings in AMETEK were worth $548,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of AMETEK in the fourth quarter valued at about $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of AMETEK during the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of AMETEK during the 4th quarter valued at about $26,000. Bruce G. Allen Investments LLC bought a new stake in shares of AMETEK during the 4th quarter valued at about $28,000. Finally, Rakuten Securities Inc. bought a new stake in shares of AMETEK during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AME shares. Truist Financial started coverage on shares of AMETEK in a research note on Thursday, March 14th. They set a “buy” rating and a $210.00 target price on the stock. StockNews.com lowered shares of AMETEK from a “buy” rating to a “hold” rating in a research note on Saturday, March 2nd. KeyCorp boosted their price objective on shares of AMETEK from $182.00 to $205.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 27th. Robert W. Baird dropped their price objective on shares of AMETEK from $173.00 to $171.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada dropped their price objective 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. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $179.80.

Insider Buying and Selling at AMETEK

In other AMETEK news, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the sale, the chief financial officer now directly owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other AMETEK news, VP Thomas M. Montgomery sold 6,891 shares of the company’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $185.38, for a total transaction of $1,277,453.58. Following the completion of the sale, the vice president now directly owns 21,543 shares of the company’s stock, valued at $3,993,641.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO William Joseph Burke sold 17,437 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $168.51, for a total transaction of $2,938,308.87. Following the completion of the transaction, the chief financial officer now owns 101,709 shares of the company’s stock, valued at $17,138,983.59. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,881 shares of company stock valued at $10,689,758. Insiders own 0.61% of the company’s stock.

AMETEK Stock Up 0.9 %

Shares of NYSE AME traded up $1.54 during midday trading on Monday, hitting $168.10. The stock had a trading volume of 876,944 shares, compared to its average volume of 970,956. The business’s 50 day moving average is $179.64 and its 200-day moving average is $166.32. The company has a market cap of $38.91 billion, a P/E ratio of 29.27, a PEG ratio of 2.66 and a beta of 1.21. AMETEK, Inc. has a 52 week low of $136.89 and a 52 week high of $186.32. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the previous year, the company earned $1.49 earnings per share. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. As a group, analysts predict that AMETEK, Inc. will post 6.81 EPS for the current year.

AMETEK Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 8th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.67%. This is a boost from AMETEK’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, March 7th. AMETEK’s payout ratio is presently 19.68%.

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.