Harvey Investment Co. LLC Grows Stock Position in AMETEK, Inc. (NYSE:AME)

Harvey Investment Co. LLC increased its holdings in AMETEK, Inc. (NYSE:AME) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,257 shares of the technology company’s stock after buying an additional 2,065 shares during the quarter. Harvey Investment Co. LLC’s holdings in AMETEK were worth $4,680,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in AME. Washington Trust Advisors Inc. purchased a new position in shares of AMETEK during the 1st quarter worth $37,000. Family Firm Inc. bought a new stake in AMETEK during the second quarter valued at about $39,000. Industrial Alliance Investment Management Inc. purchased a new stake in AMETEK in the second quarter worth about $42,000. Headlands Technologies LLC bought a new position in shares of AMETEK in the first quarter worth about $43,000. Finally, Crewe Advisors LLC lifted its position in shares of AMETEK by 168.8% during the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after buying an additional 184 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

AMETEK Trading Down 0.7 %

Shares of AME stock opened at $165.56 on Thursday. 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 stock has a market capitalization of $38.32 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth 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. The stock’s 50-day moving average price is $168.26 and its 200-day moving average price is $169.35.

AMETEK (NYSE:AME) last released its quarterly earnings data on Thursday, August 1st. The technology company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company posted $1.57 EPS. The company’s revenue was up 5.4% compared to the same quarter last year. Equities research analysts predict that AMETEK, Inc. will post 6.76 EPS for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a $0.28 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.68%. AMETEK’s dividend payout ratio (DPR) is presently 19.68%.

Insider Activity

In related news, Director Steven W. Kohlhagen sold 1,460 shares of AMETEK stock in a transaction dated 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 transaction, the director now owns 23,349 shares in the company, valued at approximately $4,006,454.91. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

AME has been the topic of a number of recent analyst reports. Royal Bank of Canada decreased their target price on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Mizuho lifted their target price on shares of AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird cut their price target on 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 boosted their price objective on AMETEK from $201.00 to $219.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com cut AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $193.29.

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.