Great West Life Assurance Co. Can Cuts Stake in AMTEK, Inc. (NYSE:AME)
Great West Life Assurance Co. Can cut its position in AMTEK, Inc. (NYSE:AME) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 164,249 shares of the technology company’s stock after selling 411 shares during the period. Great West Life Assurance Co. Can’s holdings in AMTEK were worth $9,939,000 as of its most recent filing with the SEC.
Other hedge funds have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its stake in shares of AMTEK by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,229 shares of the technology company’s stock worth $175,000 after buying an additional 19 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of AMTEK by 0.3% in the first quarter. OppenheimerFunds Inc. now owns 8,735 shares of the technology company’s stock worth $472,000 after buying an additional 30 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of AMTEK by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 4,798 shares of the technology company’s stock worth $291,000 after buying an additional 32 shares during the last quarter. First Manhattan Co. raised its stake in shares of AMTEK by 0.5% in the first quarter. First Manhattan Co. now owns 6,946 shares of the technology company’s stock worth $331,000 after buying an additional 36 shares during the last quarter. Finally, Cadence Capital Management LLC raised its stake in shares of AMTEK by 0.6% in the first quarter. Cadence Capital Management LLC now owns 6,898 shares of the technology company’s stock worth $373,000 after buying an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 89.53% of the company’s stock.
AMTEK, Inc. (NYSE:AME) opened at 62.74 on Friday. AMTEK, Inc. has a 52-week low of $43.98 and a 52-week high of $64.97. The stock’s 50 day moving average price is $61.79 and its 200 day moving average price is $57.65. The firm has a market capitalization of $14.48 billion, a price-to-earnings ratio of 27.53 and a beta of 1.34.
AMTEK (NYSE:AME) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the company earned $0.59 earnings per share. On average, equities analysts anticipate that AMTEK, Inc. will post $2.52 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders 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 annualized dividend and a dividend yield of 0.57%. AMTEK’s payout ratio is 15.79%.
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A number of brokerages recently commented on AME. Zacks Investment Research upgraded AMTEK from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Wednesday, June 21st. BidaskClub lowered AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research report on Tuesday, June 6th. Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price objective (up from $63.00) on shares of AMTEK in a research report on Wednesday, May 3rd. Finally, Morgan Stanley lifted their price objective on AMTEK from $57.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Monday, May 8th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $65.09.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $61.96, for a total value of $185,880.00. Following the completion of the sale, the director now owns 123,880 shares of the company’s stock, valued at $7,675,604.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas M. Montgomery sold 1,500 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $64.49, for a total value of $96,735.00. Following the completion of the sale, the vice president now directly owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The disclosure for this sale can be found here. In the last three months, insiders sold 55,370 shares of company stock valued at $3,432,699. Insiders own 2.10% of the company’s stock.
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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