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

Dixon Mitchell Investment Counsel Inc. purchased a new position in AMETEK, Inc. (NYSE:AME) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 253,377 shares of the technology company’s stock, valued at approximately $46,343,000. AMETEK makes up 2.3% of Dixon Mitchell Investment Counsel Inc.’s investment portfolio, making the stock its 19th biggest holding. Dixon Mitchell Investment Counsel Inc. owned 0.11% of AMETEK as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of AME. McGlone Suttner Wealth Management Inc. bought a new position in AMETEK in the 4th quarter valued at about $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of AMETEK during the fourth quarter valued at approximately $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in AMETEK during the fourth quarter worth approximately $26,000. Bruce G. Allen Investments LLC acquired a new stake in AMETEK in the fourth quarter worth approximately $28,000. Finally, Rakuten Securities Inc. bought a new position in AMETEK during the 4th quarter valued at $31,000. 87.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

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

AMETEK Trading Up 0.3 %

Shares of AME stock traded up $0.53 during trading hours on Tuesday, reaching $166.10. 703,315 shares of the stock traded hands, compared to its average volume of 1,056,027. The company has a quick ratio of 0.66, a current ratio of 1.11 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $38.45 billion, a PE ratio of 29.25, a PEG ratio of 2.67 and a beta of 1.18. AMETEK, Inc. has a 1-year low of $136.89 and a 1-year high of $186.32. The business has a fifty day moving average price of $170.36 and a 200 day moving average price of $171.75.

AMETEK (NYSE:AME) last announced its earnings results on Thursday, May 2nd. The technology company reported $1.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.05. AMETEK had a net margin of 19.57% and a return on equity of 17.74%. The company had revenue of $1.74 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the business earned $1.49 EPS. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that AMETEK, Inc. will post 6.83 EPS for the current year.

AMETEK Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend was Friday, June 14th. AMETEK’s dividend payout ratio (DPR) is 19.68%.

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.