Westfield Capital Management Co. LP Has $73.55 Million Stock Position in AMETEK, Inc. (NYSE:AME)

Westfield Capital Management Co. LP lessened its stake in AMETEK, Inc. (NYSE:AME) by 3.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 428,355 shares of the technology company’s stock after selling 14,641 shares during the quarter. Westfield Capital Management Co. LP owned about 0.19% of AMETEK worth $73,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of AME. CreativeOne Wealth LLC bought a new stake in shares of AMETEK during the 1st quarter worth approximately $388,000. Canada Pension Plan Investment Board boosted its holdings in shares of AMETEK by 9.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 170,233 shares of the technology company’s stock valued at $31,136,000 after purchasing an additional 14,749 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of AMETEK in the 1st quarter valued at $534,000. Interval Partners LP acquired a new position in shares of AMETEK during the 1st quarter worth $15,044,000. Finally, B. Riley Wealth Advisors Inc. lifted its position in shares of AMETEK by 42.6% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 1,919 shares of the technology company’s stock worth $351,000 after buying an additional 573 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

AMETEK Price Performance

AME stock opened at $197.38 on Friday. The company has a market capitalization of $45.66 billion, a P/E ratio of 34.39, a PEG ratio of 3.19 and a beta of 1.16. The company has a fifty day moving average price of $176.46 and a 200-day moving average price of $170.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.39. AMETEK, Inc. has a 52-week low of $149.03 and a 52-week 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, topping the consensus estimate of $1.62 by $0.04. The firm had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.71 billion. AMETEK had a return on equity of 16.88% and a net margin of 19.27%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.64 EPS. As a group, equities analysts expect that AMETEK, Inc. will post 6.8 EPS for the current year.

AMETEK Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, December 6th. This represents a $1.12 annualized dividend and a yield of 0.57%. AMETEK’s payout ratio is 19.51%.

Wall Street Analysts Forecast Growth

AME has been the topic of several research analyst reports. Mizuho raised their price objective on AMETEK from $190.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Royal Bank of Canada decreased their price target on shares of AMETEK from $216.00 to $215.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Truist Financial upped their price objective on shares of AMETEK from $219.00 to $221.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. KeyCorp raised their target price on shares of AMETEK from $205.00 to $215.00 and gave the company an “overweight” rating in a research report on Friday. Finally, TD Cowen downgraded shares of AMETEK from a “hold” rating to a “sell” rating in a report on Monday, October 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, AMETEK has a consensus rating of “Moderate Buy” and an average target price of $199.29.

Insider Transactions at AMETEK

In other AMETEK news, 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 value of $1,192,350.57. Following the completion of the sale, the insider now directly owns 36,731 shares of the company’s stock, valued at approximately $7,015,253.69. The trade was a 14.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven W. Kohlhagen sold 1,460 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $171.59, for a total value of $250,521.40. Following the transaction, the director now directly owns 23,349 shares in the company, valued at $4,006,454.91. The trade was a 5.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.61% of the company’s stock.

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.