Pictet Asset Management Ltd. Decreases Position in AMTEK, Inc. (AME)
Pictet Asset Management Ltd. reduced its stake in shares of AMTEK, Inc. (NYSE:AME) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 125,678 shares of the technology company’s stock after selling 3,200 shares during the period. Pictet Asset Management Ltd.’s holdings in AMTEK were worth $7,669,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in AMTEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after buying an additional 13,392,716 shares during the period. Boston Partners boosted its stake in AMTEK by 534.8% in the first quarter. Boston Partners now owns 3,439,416 shares of the technology company’s stock valued at $186,004,000 after buying an additional 2,897,568 shares during the period. American Century Companies Inc. boosted its stake in AMTEK by 115.2% in the first quarter. American Century Companies Inc. now owns 2,777,068 shares of the technology company’s stock valued at $150,184,000 after buying an additional 1,486,889 shares during the period. Wellington Management Group LLP boosted its stake in AMTEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock valued at $569,372,000 after buying an additional 868,895 shares during the period. Finally, FMR LLC boosted its stake in AMTEK by 3.4% in the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock valued at $1,172,925,000 after buying an additional 717,489 shares during the period. 89.49% of the stock is owned by institutional investors.
Shares of AMTEK, Inc. (NYSE:AME) opened at 63.11 on Wednesday. The stock has a market cap of $14.57 billion, a PE ratio of 27.69 and a beta of 1.34. The stock has a 50 day moving average of $62.00 and a 200 day moving average of $57.99. AMTEK, Inc. has a 12 month low of $43.98 and a 12 month high of $64.97.
AMTEK (NYSE:AME) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts anticipate that AMTEK, Inc. will post $2.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Thursday, September 14th. AMTEK’s payout ratio is 15.79%.
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AME has been the subject of several research reports. BMO Capital Markets reissued an “outperform” rating and issued a $67.00 price objective (up from $65.00) on shares of AMTEK in a research report on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 price objective (up from $63.00) on shares of AMTEK in a research report on Wednesday, May 3rd. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, June 5th. Morgan Stanley boosted 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, Royal Bank Of Canada reissued a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research report on Tuesday, June 6th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.09.
In other news, insider Ronald J. Oscher sold 5,315 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $60.05, for a total value of $319,165.75. Following the completion of the transaction, the insider now owns 32,131 shares of the company’s stock, valued at $1,929,466.55. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas M. Montgomery sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $64.49, for a total transaction of $96,735.00. Following the completion of the transaction, the vice president now directly owns 21,747 shares of the company’s stock, valued at approximately $1,402,464.03. The disclosure for this sale can be found here. In the last three months, insiders sold 58,370 shares of company stock valued at $3,622,419. 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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