State Street Corp boosted its stake in AMTEK, Inc. (NYSE:AME) by 0.1% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 9,581,722 shares of the technology company’s stock after buying an additional 10,567 shares during the period. State Street Corp owned approximately 4.16% of AMTEK worth $518,186,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the company. First Personal Financial Services boosted its stake in AMTEK by 23.9% in the first quarter. First Personal Financial Services now owns 2,075 shares of the technology company’s stock valued at $112,000 after buying an additional 400 shares during the period. Van ECK Associates Corp boosted its stake in AMTEK by 4.9% in the fourth quarter. Van ECK Associates Corp now owns 2,812 shares of the technology company’s stock valued at $137,000 after buying an additional 131 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in AMTEK by 0.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,229 shares of the technology company’s stock valued at $175,000 after buying an additional 19 shares during the period. Morgan Dempsey Capital Management LLC boosted its stake in AMTEK by 1.7% in the first quarter. Morgan Dempsey Capital Management LLC now owns 3,464 shares of the technology company’s stock valued at $187,000 after buying an additional 59 shares during the period. Finally, Charter Trust Co. bought a new stake in AMTEK during the first quarter valued at $200,000. Institutional investors and hedge funds own 89.87% of the company’s stock.
AMTEK, Inc. (NYSE AME) traded up 0.38% during trading on Thursday, hitting $60.74. 634,239 shares of the company traded hands. The company’s 50 day moving average is $60.87 and its 200-day moving average is $54.73. The stock has a market capitalization of $13.98 billion, a PE ratio of 27.37 and a beta of 1.29. AMTEK, Inc. has a 52 week low of $43.28 and a 52 week high of $62.89.
AMTEK (NYSE:AME) last released its quarterly earnings results on Tuesday, May 2nd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.03. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $961.36 million. AMTEK had a net margin of 13.24% and a return on equity of 16.20%. AMTEK’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Analysts predict that AMTEK, Inc. will post $2.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Wednesday, June 14th. AMTEK’s payout ratio is 16.22%.
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Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of AMTEK from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Wednesday. Stifel Nicolaus restated a “buy” rating and set a $69.00 price objective (up previously from $66.00) on shares of AMTEK in a research report on Thursday, June 8th. Royal Bank Of Canada restated a “buy” rating and set a $67.00 price objective on shares of AMTEK in a research report on Tuesday, June 6th. Morgan Stanley raised their price objective on shares of AMTEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Finally, BMO Capital Markets restated an “outperform” rating and set a $67.00 price objective (up previously from $65.00) on shares of AMTEK in a research report on Wednesday, May 3rd. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. AMTEK presently has a consensus rating of “Buy” and an average target price of $62.90.
In related news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $62.66, for a total transaction of $187,980.00. Following the sale, the director now owns 120,880 shares of the company’s stock, valued at $7,574,340.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP William D. Eginton sold 14,598 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $60.00, for a total transaction of $875,880.00. Following the sale, the vice president now directly owns 54,290 shares in the company, valued at approximately $3,257,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,956 shares of company stock worth $5,675,440. 2.10% of the stock is owned by insiders.
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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