Westfield Capital Management Co. LP Sells 14,641 Shares of AMETEK, Inc. (NYSE:AME)

Westfield Capital Management Co. LP lowered its stake in AMETEK, Inc. (NYSE:AME) by 3.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 428,355 shares of the technology company’s stock after selling 14,641 shares during the period. Westfield Capital Management Co. LP’s holdings in AMETEK were worth $73,553,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of AME. Family Firm Inc. bought a new stake in AMETEK during the 2nd quarter valued at about $39,000. Industrial Alliance Investment Management Inc. purchased a new position in AMETEK in the 2nd quarter worth approximately $42,000. Princeton Global Asset Management LLC purchased a new position in AMETEK in the 3rd quarter worth approximately $44,000. Crewe Advisors LLC lifted its position in AMETEK by 168.8% in the 2nd quarter. Crewe Advisors LLC now owns 293 shares of the technology company’s stock valued at $49,000 after acquiring an additional 184 shares in the last quarter. Finally, First Command Advisory Services Inc. purchased a new stake in AMETEK during the 2nd quarter valued at $50,000. 87.43% of the stock is currently owned by institutional investors.

AMETEK Price Performance

Shares of NYSE:AME opened at $197.38 on Friday. The company has a quick ratio of 0.84, a current ratio of 1.39 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $45.66 billion, a PE ratio of 34.39, a price-to-earnings-growth ratio of 3.19 and a beta of 1.16. The firm’s 50 day moving average price is $176.46 and its 200-day moving average price is $170.71. AMETEK, Inc. has a twelve month low of $149.03 and a twelve month high of $197.83.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, October 31st. The technology company reported $1.66 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.04. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.71 billion. AMETEK had a net margin of 19.27% and a return on equity of 16.88%. The firm’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.64 earnings per share. Equities research analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.12 dividend on an annualized basis and a yield of 0.57%. AMETEK’s dividend payout ratio is currently 19.51%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research note on Friday, August 2nd. Royal Bank of Canada decreased their target price on AMETEK from $216.00 to $215.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Truist Financial raised their price target on shares of AMETEK from $219.00 to $221.00 and gave the company a “buy” rating in a report on Friday, November 1st. KeyCorp boosted their price objective on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a report on Friday. Finally, Wolfe Research upgraded shares of AMETEK to a “hold” rating in a report on Wednesday, September 18th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.29.

Insider Activity at AMETEK

In other news, Director Steven W. Kohlhagen sold 1,460 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $171.59, for a total value of $250,521.40. Following the completion of the sale, the director now directly owns 23,349 shares of the company’s stock, valued at $4,006,454.91. This represents a 5.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David F. Hermance sold 6,243 shares of AMETEK stock in a transaction on Friday, November 8th. The shares were sold at an average price of $190.99, for a total transaction of $1,192,350.57. Following the transaction, the insider now owns 36,731 shares in the company, valued at approximately $7,015,253.69. This trade represents a 14.53 % decrease in their position. The disclosure for this sale can be found here. 0.61% of the stock is owned by company insiders.

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.