Dixon Mitchell Investment Counsel Inc. Raises Stock Holdings in AMETEK, Inc. (NYSE:AME)

Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of AMETEK, Inc. (NYSE:AME) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 390,328 shares of the technology company’s stock after buying an additional 8,705 shares during the quarter. AMETEK accounts for about 3.1% of Dixon Mitchell Investment Counsel Inc.’s holdings, making the stock its 11th biggest holding. Dixon Mitchell Investment Counsel Inc. owned approximately 0.17% of AMETEK worth $67,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Nomura Holdings Inc. purchased a new stake in AMETEK during the 4th quarter worth approximately $768,000. Czech National Bank increased its holdings in shares of AMETEK by 8.6% in the 2nd quarter. Czech National Bank now owns 44,108 shares of the technology company’s stock valued at $7,353,000 after acquiring an additional 3,499 shares during the last quarter. Duality Advisers LP purchased a new stake in AMETEK during the first quarter worth approximately $1,676,000. CWM LLC boosted its holdings in AMETEK by 53.9% in the second quarter. CWM LLC now owns 10,594 shares of the technology company’s stock valued at $1,766,000 after purchasing an additional 3,711 shares in the last quarter. Finally, American National Bank & Trust Co. VA purchased a new stake in shares of AMETEK during the 1st quarter worth approximately $6,978,000. 87.43% of the stock is currently owned by institutional investors and hedge funds.

AMETEK Stock Performance

Shares of AME opened at $169.40 on Friday. The company has a market capitalization of $39.21 billion, a PE ratio of 29.77, a P/E/G ratio of 2.77 and a beta of 1.17. AMETEK, Inc. has a 52-week low of $136.89 and a 52-week high of $186.32. The company has a 50-day simple moving average of $167.84 and a 200-day simple moving average of $169.69. The company has a quick ratio of 0.76, a current ratio of 1.26 and a debt-to-equity ratio of 0.20.

AMETEK (NYSE:AME) last posted its earnings results on Thursday, August 1st. The technology company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.64 by $0.02. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.78 billion. AMETEK had a return on equity of 17.41% and a net margin of 19.51%. AMETEK’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.57 earnings per share. Equities research analysts predict that AMETEK, Inc. will post 6.76 earnings per share for the current fiscal year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend was Monday, September 16th. AMETEK’s payout ratio is 19.68%.

Analysts Set New Price Targets

A number of research firms have recently commented on AME. Redburn Atlantic upgraded AMETEK to a “strong-buy” rating in a research report on Friday, August 2nd. TD Cowen cut AMETEK from a “hold” rating to a “sell” rating in a research note on Monday, October 7th. Wolfe Research upgraded shares of AMETEK to a “hold” rating in a research report on Wednesday, September 18th. StockNews.com downgraded shares of AMETEK from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Mizuho lifted their price objective on shares of AMETEK from $180.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $193.29.

Insider Transactions at AMETEK

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 transaction of $250,521.40. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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.