Northwestern Mutual Investment Management Company LLC decreased its stake in shares of Amtek Inc. (NYSE:AME) by 1.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 8,906 shares of the company’s stock after selling 88 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Amtek were worth $412,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AME. FMR LLC boosted its position in Amtek by 12.1% in the second quarter. FMR LLC now owns 31,049,923 shares of the company’s stock valued at $1,435,438,000 after buying an additional 3,342,925 shares in the last quarter. Vanguard Group Inc. boosted its position in Amtek by 1.0% in the second quarter. Vanguard Group Inc. now owns 20,601,618 shares of the company’s stock valued at $952,413,000 after buying an additional 203,997 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Amtek by 15.0% in the second quarter. JPMorgan Chase & Co. now owns 4,483,734 shares of the company’s stock valued at $207,283,000 after buying an additional 584,454 shares in the last quarter. BlackRock Fund Advisors boosted its position in Amtek by 0.7% in the second quarter. BlackRock Fund Advisors now owns 3,660,611 shares of the company’s stock valued at $169,230,000 after buying an additional 26,310 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Amtek by 19.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,370,103 shares of the company’s stock valued at $155,799,000 after buying an additional 538,119 shares in the last quarter. Institutional investors and hedge funds own 87.75% of the company’s stock.

Shares of Amtek Inc. (NYSE:AME) opened at 46.78 on Wednesday. The stock’s 50 day moving average is $48.15 and its 200-day moving average is $48.03. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 19.57 and a beta of 1.29. Amtek Inc. has a 12-month low of $42.82 and a 12-month high of $57.00.

Amtek (NYSE:AME) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.59. Amtek had a return on equity of 17.53% and a net margin of 14.47%. The firm earned $977.70 million during the quarter, compared to the consensus estimate of $986.35 million. During the same period last year, the company earned $0.64 earnings per share. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities analysts anticipate that Amtek Inc. will post $2.30 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, September 14th. Amtek’s dividend payout ratio is presently 15.13%.

Several research firms recently issued reports on AME. Stifel Nicolaus decreased their target price on shares of Amtek from $56.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, August 5th. BMO Capital Markets set a $53.00 target price on shares of Amtek and gave the company a “buy” rating in a research note on Friday, August 5th. RBC Capital Markets reiterated an “outperform” rating and issued a $53.00 target price (down from $56.00) on shares of Amtek in a research note on Friday, August 5th. Oppenheimer Holdings Inc. decreased their target price on shares of Amtek from $56.00 to $54.00 and set an “outperform” rating for the company in a research note on Friday, August 5th. Finally, Jefferies Group cut their price target on shares of Amtek from $56.00 to $54.00 and set a “buy” rating for the company in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $53.09.

In related news, insider John Wesley Hardin sold 3,000 shares of the stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $46.02, for a total transaction of $138,060.00. Following the completion of the sale, the insider now directly owns 48,146 shares of the company’s stock, valued at $2,215,678.92. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Thomas C. Marecic sold 6,500 shares of the stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $44.89, for a total value of $291,785.00. Following the sale, the insider now directly owns 29,526 shares of the company’s stock, valued at $1,325,422.14. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

About Amtek

AMETEK, Inc (AMETEK) is a manufacturer of electronic instruments and electromechanical devices. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.

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