AMTEK, Inc. (AME) Holdings Cut by Bessemer Group Inc.
Bessemer Group Inc. decreased its stake in shares of AMTEK, Inc. (NYSE:AME) by 87.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,902 shares of the technology company’s stock after selling 99,786 shares during the quarter. Bessemer Group Inc.’s holdings in AMTEK were worth $984,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in AMTEK by 3.1% during the 2nd quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock valued at $1,367,497,000 after purchasing an additional 687,292 shares in the last quarter. BlackRock Inc. increased its stake in AMTEK by 0.8% during the 2nd quarter. BlackRock Inc. now owns 13,935,315 shares of the technology company’s stock valued at $844,062,000 after purchasing an additional 111,864 shares in the last quarter. Janus Henderson Group PLC increased its stake in AMTEK by 22,076.4% during the 2nd quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after purchasing an additional 6,374,794 shares in the last quarter. Capital Research Global Investors increased its stake in AMTEK by 2.0% during the 2nd quarter. Capital Research Global Investors now owns 6,277,378 shares of the technology company’s stock valued at $380,221,000 after purchasing an additional 121,862 shares in the last quarter. Finally, Boston Partners increased its stake in AMTEK by 21.7% during the 3rd quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after purchasing an additional 932,008 shares in the last quarter. Institutional investors and hedge funds own 85.31% of the company’s stock.
In other AMTEK news, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $66.30, for a total transaction of $198,900.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas C. Marecic sold 12,315 shares of the stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $66.36, for a total transaction of $817,223.40. Following the transaction, the insider now directly owns 38,367 shares in the company, valued at $2,546,034.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 166,155 shares of company stock worth $11,028,883. 2.10% of the stock is owned by company insiders.
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A number of research analysts have issued reports on AME shares. Robert W. Baird upped their price target on shares of AMTEK from $70.00 to $77.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Jefferies Group LLC increased their price objective on shares of AMTEK from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research lowered shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Monday, October 16th. Morgan Stanley increased their price objective on shares of AMTEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, November 3rd. Finally, Stifel Nicolaus set a $70.00 price objective on shares of AMTEK and gave the stock a “buy” rating in a research note on Friday, October 6th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $71.80.
Shares of AMTEK, Inc. (NYSE:AME) opened at $70.12 on Friday. The company has a market cap of $15,905.49, a price-to-earnings ratio of 27.64, a P/E/G ratio of 2.34 and a beta of 1.33. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51. AMTEK, Inc. has a 52-week low of $45.78 and a 52-week high of $70.43.
AMTEK (NYSE:AME) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business earned $0.56 earnings per share. equities analysts expect that AMTEK, Inc. will post 2.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.36 annualized dividend and a yield of 0.51%. AMTEK’s dividend payout ratio is presently 15.13%.
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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