Dixon Mitchell Investment Counsel Inc. Purchases Shares of 253,377 AMETEK, Inc. (NYSE:AME)

Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of AMETEK, Inc. (NYSE:AME) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 253,377 shares of the technology company’s stock, valued at approximately $46,343,000. AMETEK makes up about 2.3% of Dixon Mitchell Investment Counsel Inc.’s portfolio, making the stock its 19th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in AMETEK by 11.2% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,669,394 shares of the technology company’s stock worth $275,266,000 after purchasing an additional 167,602 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of AMETEK by 161.0% during the fourth quarter. Pacer Advisors Inc. now owns 44,684 shares of the technology company’s stock worth $7,368,000 after buying an additional 27,562 shares in the last quarter. Tyche Wealth Partners LLC acquired a new stake in AMETEK in the 4th quarter valued at approximately $6,275,000. Cim LLC bought a new stake in AMETEK in the 4th quarter valued at approximately $1,254,000. Finally, Nomura Holdings Inc. acquired a new position in AMETEK during the 4th quarter worth approximately $768,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now directly owns 24,809 shares of the company’s stock, valued at $4,315,029.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other AMETEK news, Director Steven W. Kohlhagen sold 1,470 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $170.20, for a total value of $250,194.00. Following the transaction, the director now directly owns 26,249 shares of the company’s stock, valued at approximately $4,467,579.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven W. Kohlhagen sold 1,440 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $173.93, for a total value of $250,459.20. Following the transaction, the director now owns 24,809 shares in the company, valued at approximately $4,315,029.37. The disclosure for this sale can be found here. Company insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AME. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th. Truist Financial lowered their price target on shares of AMETEK from $210.00 to $204.00 and set a “buy” rating on the stock in a research note on Tuesday. Oppenheimer upgraded shares of AMETEK from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a research note on Wednesday, May 22nd. Finally, Robert W. Baird decreased their price objective on AMETEK from $173.00 to $171.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.20.

AMETEK Stock Performance

Shares of AME stock traded up $0.53 on Tuesday, reaching $166.10. The stock had a trading volume of 703,315 shares, compared to its average volume of 1,056,027. AMETEK, Inc. has a 12 month low of $136.89 and a 12 month high of $186.32. The firm has a market capitalization of $38.45 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 2.67 and a beta of 1.18. The firm’s 50-day moving average is $170.36 and its two-hundred day moving average is $171.75. 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 announced its quarterly earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.05. AMETEK had a return on equity of 17.74% and a net margin of 19.57%. The firm had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same quarter in the previous year, the business earned $1.49 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, research analysts expect that AMETEK, Inc. will post 6.83 EPS for the current fiscal year.

AMETEK Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, June 14th. AMETEK’s dividend payout ratio is 19.68%.

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.