PGGM Investments lowered its stake in AMTEK, Inc. (NYSE:AME) by 15.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 484,247 shares of the technology company’s stock after selling 86,824 shares during the period. PGGM Investments owned 0.21% of AMTEK worth $29,331,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gulf International Bank UK Ltd boosted its position in AMTEK by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 70,770 shares of the technology company’s stock valued at $3,827,000 after buying an additional 900 shares during the last quarter. Forte Capital LLC ADV boosted its position in AMTEK by 4.0% in the first quarter. Forte Capital LLC ADV now owns 90,588 shares of the technology company’s stock valued at $4,899,000 after buying an additional 3,470 shares during the last quarter. Charter Trust Co. purchased a new position in AMTEK during the first quarter valued at $200,000. Raymond James Trust N.A. boosted its position in AMTEK by 9.0% in the first quarter. Raymond James Trust N.A. now owns 7,984 shares of the technology company’s stock valued at $432,000 after buying an additional 661 shares during the last quarter. Finally, Contravisory Investment Management Inc. purchased a new position in AMTEK during the first quarter valued at $258,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.
AMTEK, Inc. (NYSE:AME) traded down 0.53% during mid-day trading on Tuesday, reaching $63.85. The company had a trading volume of 314,464 shares. The stock has a 50 day moving average price of $61.39 and a 200-day moving average price of $57.13. AMTEK, Inc. has a 12-month low of $43.30 and a 12-month high of $64.40. The stock has a market capitalization of $14.70 billion, a P/E ratio of 28.02 and a beta of 1.34.
AMTEK (NYSE:AME) last released its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. Equities analysts anticipate that AMTEK, Inc. will post $2.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.09 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.56%. AMTEK’s dividend payout ratio is currently 15.79%.
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Several research firms have weighed in on AME. Zacks Investment Research upgraded AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Monday. Jefferies Group LLC reiterated a “buy” rating and set a $66.00 price objective on shares of AMTEK in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. raised their price target on AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. BMO Capital Markets raised their price target on AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $67.00 price target on shares of AMTEK in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $65.09.
In other AMTEK news, Director James R. Malone sold 1,190 shares of the company’s stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $59.65, for a total value of $70,983.50. Following the transaction, the director now directly owns 4,300 shares in the company, valued at approximately $256,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas M. Montgomery sold 1,500 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $64.49, for a total value of $96,735.00. Following the completion of the transaction, the vice president now owns 21,747 shares in the company, valued at $1,402,464.03. The disclosure for this sale can be found here. Insiders sold a total of 56,560 shares of company stock worth $3,503,683 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.
About AMTEK
AMETEK, Inc is a manufacturer of electronic instruments and electromechanical devices with operations in North America, Europe, Asia and South America. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures instruments for the process, power and industrial and aerospace markets.
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