Jennison Associates LLC Cuts Position in AMTEK, Inc. (AME)
Jennison Associates LLC reduced its stake in AMTEK, Inc. (NYSE:AME) by 15.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,196,675 shares of the technology company’s stock after selling 412,391 shares during the quarter. Jennison Associates LLC owned 0.95% of AMTEK worth $145,068,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AME. Janus Henderson Group PLC lifted its position 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 acquiring an additional 6,374,794 shares in the last quarter. Boston Partners lifted its position in AMTEK by 21.7% in the 3rd quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after acquiring an additional 932,008 shares in the last quarter. Vanguard Group Inc. lifted its position 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 acquiring an additional 687,292 shares in the last quarter. SG Americas Securities LLC lifted its position in AMTEK by 2,013.0% in the 2nd quarter. SG Americas Securities LLC now owns 631,958 shares of the technology company’s stock valued at $38,278,000 after acquiring an additional 602,050 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in AMTEK in the 2nd quarter valued at $17,144,000. 85.67% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total value of $189,720.00. Following the sale, the director now directly owns 117,880 shares of the company’s stock, valued at approximately $7,454,731.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Thomas C. Marecic sold 12,315 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $66.36, for a total transaction of $817,223.40. Following the completion of the sale, 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. Over the last ninety days, insiders sold 169,155 shares of company stock worth $11,218,603. 2.10% of the stock is owned by insiders.
Shares of AMTEK, Inc. (NYSE AME) traded up $0.22 during mid-day trading on Friday, hitting $68.23. 1,008,646 shares of the stock were exchanged, compared to its average volume of 1,296,814. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.16 and a current ratio of 1.59. The company has a market cap of $15,718.28, a PE ratio of 27.31, a price-to-earnings-growth ratio of 2.31 and a beta of 1.33. AMTEK, Inc. has a 12 month low of $45.78 and a 12 month high of $70.26.
AMTEK (NYSE:AME) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. AMTEK’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 EPS. research analysts anticipate that AMTEK, Inc. will post 2.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.53%. AMTEK’s payout ratio is 15.13%.
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AME has been the topic of several analyst reports. BidaskClub cut shares of AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, August 7th. Royal Bank Of Canada reissued a “buy” rating and set a $70.00 price target on shares of AMTEK in a research report on Friday, October 13th. Finally, BMO Capital Markets boosted their price target on shares of AMTEK from $77.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $71.60.
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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