Harvey Investment Co. LLC Sells 1,025 Shares of AMTEK, Inc. (AME)
Harvey Investment Co. LLC reduced its position in AMTEK, Inc. (NYSE:AME) by 4.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 24,774 shares of the technology company’s stock after selling 1,025 shares during the quarter. Harvey Investment Co. LLC’s holdings in AMTEK were worth $1,636,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in AMTEK by 3.1% in 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 buying an additional 687,292 shares during the period. BlackRock Inc. increased its stake in AMTEK by 0.8% in the 2nd quarter. BlackRock Inc. now owns 13,935,315 shares of the technology company’s stock valued at $844,062,000 after buying an additional 111,864 shares during the period. Janus Henderson Group PLC increased its stake in AMTEK by 22,076.4% in 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 buying an additional 6,374,794 shares during the period. Capital Research Global Investors increased its stake in AMTEK by 2.0% in 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 buying an additional 121,862 shares during the period. Finally, Boston Partners increased its stake in AMTEK by 25.1% in the 2nd quarter. Boston Partners now owns 4,301,460 shares of the technology company’s stock valued at $260,539,000 after buying an additional 862,044 shares during the period. 85.56% of the stock is currently owned by institutional investors.
AMTEK, Inc. (NYSE:AME) traded up 0.26% during trading on Friday, hitting $68.58. 810,754 shares of the stock were exchanged. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 30.09 and a beta of 1.31. The stock’s 50 day moving average is $65.89 and its 200-day moving average is $61.69. AMTEK, Inc. has a one year low of $43.98 and a one year high of $68.83.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 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 company’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period last year, the company earned $0.59 earnings per share. On average, equities research analysts expect that AMTEK, Inc. will post $2.52 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Thursday, September 14th. AMTEK’s dividend payout ratio (DPR) is 15.79%.
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Several equities analysts have issued reports on the stock. Oppenheimer Holdings, Inc. boosted their price objective on shares of AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 3rd. BMO Capital Markets reissued a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 27th. Jefferies Group LLC boosted their price objective on shares of AMTEK from $66.00 to $77.00 and gave the company a “buy” rating in a research note on Friday, October 13th. BidaskClub cut shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Finally, Zacks Investment Research cut shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $67.82.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John Wesley Hardin sold 2,600 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $64.51, for a total value of $167,726.00. Following the transaction, the insider now directly owns 59,698 shares in the company, valued at $3,851,117.98. The disclosure for this sale can be found here. Insiders have sold 173,255 shares of company stock worth $11,483,064 over the last three months. Corporate insiders own 2.10% of the company’s stock.
AMTEK Company Profile
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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