Point72 Asset Management L.P. Acquires 47,214 Shares of AMTEK, Inc. (AME)
Point72 Asset Management L.P. raised its holdings in AMTEK, Inc. (NYSE:AME) by 45.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 151,684 shares of the technology company’s stock after purchasing an additional 47,214 shares during the period. Point72 Asset Management L.P. owned 0.07% of AMTEK worth $10,017,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in AME. Janus Henderson Group PLC lifted its holdings in shares of AMTEK by 22,076.4% in the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after purchasing an additional 6,374,794 shares in the last quarter. Boston Partners lifted its holdings in shares of AMTEK by 21.7% in the third quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after purchasing an additional 932,008 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of AMTEK by 3.1% in the second quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock valued at $1,367,497,000 after purchasing an additional 687,292 shares in the last quarter. Balyasny Asset Management LLC purchased a new stake in shares of AMTEK in the second quarter valued at about $15,287,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of AMTEK by 9.4% in the third quarter. Westfield Capital Management Co. LP now owns 2,843,212 shares of the technology company’s stock valued at $187,766,000 after purchasing an additional 244,892 shares in the last quarter. 84.40% of the stock is currently owned by institutional investors.
In related news, insider Thomas C. Marecic sold 12,315 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now owns 38,367 shares of the company’s stock, valued at $2,546,034.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The disclosure for this sale can be found here. Insiders have sold 196,970 shares of company stock valued at $13,238,102 in the last ninety days. 2.10% of the stock is currently owned by company insiders.
AMTEK (NYSE:AME) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.04. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. analysts forecast that AMTEK, Inc. will post 2.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date is Tuesday, December 5th. AMTEK’s dividend payout ratio is presently 15.13%.
AME has been the topic of several recent research reports. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, September 5th. Royal Bank of Canada reissued a “buy” rating and issued a $70.00 price objective on shares of AMTEK in a research report on Friday, October 13th. Morgan Stanley boosted their price objective on shares of AMTEK from $64.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, November 3rd. Finally, Oppenheimer boosted their price objective on shares of AMTEK to $75.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. AMTEK currently has an average rating of “Buy” and a consensus target price of $72.00.
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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