Westfield Capital Management Co. LP Sells 4,481 Shares of AMETEK, Inc. (NYSE:AME)

Key Points

• Westfield Capital Management Co. LP reduced its stake in AMETEK, Inc. by 1.1% in the first quarter, now holding 0.18% of the company valued at $70,040,000.
• Analysts have predominantly rated AMETEK as a "Moderate Buy", with a consensus price target of $200.18, showing a positive outlook despite mixed price adjustments from various firms.
• AMETEK recently reported earnings of $1.78 EPS, exceeding expectations, with a quarterly revenue increase of 2.5% year-over-year.

Westfield Capital Management Co. LP decreased its position in shares of AMETEK, Inc. (NYSE:AME - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 406,878 shares of the technology company's stock after selling 4,481 shares during the period. Westfield Capital Management Co. LP owned 0.18% of AMETEK worth $70,040,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in AME. Empire Life Investments Inc. boosted its stake in AMETEK by 0.3% during the first quarter. Empire Life Investments Inc. now owns 154,944 shares of the technology company's stock valued at $26,672,000 after buying an additional 411 shares in the last quarter. Raiffeisen Bank International AG lifted its holdings in AMETEK by 16.5% in the 1st quarter. Raiffeisen Bank International AG now owns 44,647 shares of the technology company's stock valued at $7,607,000 after acquiring an additional 6,318 shares during the last quarter. M.D. Sass LLC boosted its position in shares of AMETEK by 2.1% during the 1st quarter. M.D. Sass LLC now owns 366,994 shares of the technology company's stock valued at $63,174,000 after purchasing an additional 7,666 shares in the last quarter. R Squared Ltd grew its stake in shares of AMETEK by 35.4% in the 1st quarter. R Squared Ltd now owns 1,950 shares of the technology company's stock worth $336,000 after purchasing an additional 510 shares during the last quarter. Finally, Banco Santander S.A. lifted its stake in AMETEK by 20.8% during the first quarter. Banco Santander S.A. now owns 45,365 shares of the technology company's stock valued at $7,809,000 after purchasing an additional 7,799 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Up 0.2%

Shares of NYSE:AME traded up $0.38 during trading on Tuesday, reaching $184.87. 1,919,821 shares of the company traded hands, compared to its average volume of 1,529,762. The firm has a fifty day simple moving average of $179.57 and a 200 day simple moving average of $176.99. The company has a quick ratio of 1.04, a current ratio of 1.63 and a debt-to-equity ratio of 0.15. AMETEK, Inc. has a 1-year low of $145.02 and a 1-year high of $198.33. The firm has a market cap of $42.70 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 2.66 and a beta of 1.10.

AMETEK (NYSE:AME - Get Free Report) last issued its earnings results on Thursday, July 31st. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.09. AMETEK had a return on equity of 16.53% and a net margin of 20.60%. The company had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period in the prior year, the firm posted $1.66 EPS. The business's revenue was up 2.5% compared to the same quarter last year. Analysts anticipate that AMETEK, Inc. will post 7.15 earnings per share for the current fiscal year.

AMETEK Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.31 per share. The ex-dividend date was Friday, June 13th. This represents a $1.24 annualized dividend and a dividend yield of 0.7%. AMETEK's dividend payout ratio is 19.97%.

Analyst Ratings Changes

Several research analysts have issued reports on AME shares. Melius lowered shares of AMETEK from a "buy" rating to a "hold" rating and set a $192.00 price target on the stock. in a research report on Monday, July 14th. Royal Bank Of Canada boosted their target price on AMETEK from $209.00 to $212.00 and gave the stock an "outperform" rating in a research report on Friday. DA Davidson increased their price target on AMETEK from $210.00 to $215.00 and gave the company a "buy" rating in a research report on Friday. Mizuho boosted their price objective on AMETEK from $212.00 to $225.00 and gave the stock an "outperform" rating in a report on Friday. Finally, Melius Research upgraded shares of AMETEK to a "hold" rating in a report on Monday, July 14th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $200.91.

AMETEK Company 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.