AMTEK, Inc. (AME) Director Elizebeth R. Varet Sells 3,000 Shares
AMTEK, Inc. (NYSE:AME) Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total value of $189,720.00. Following the completion of the transaction, the director now directly owns 117,880 shares in the company, valued at approximately $7,454,731.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
AMTEK, Inc. (AME) opened at 62.79 on Friday. The stock has a 50 day moving average of $62.15 and a 200-day moving average of $58.06. AMTEK, Inc. has a 1-year low of $43.98 and a 1-year high of $64.97. The firm has a market capitalization of $14.49 billion, a P/E ratio of 27.55 and a beta of 1.34.
AMTEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $0.59 earnings per share. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. On average, equities research analysts anticipate that AMTEK, Inc. will post $2.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.09 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.57%. AMTEK’s payout ratio is 15.79%.
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Several large investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of AMTEK by 2,592.1% in the fourth quarter. Macquarie Group Ltd. now owns 166,908 shares of the technology company’s stock worth $8,112,000 after buying an additional 160,708 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of AMTEK by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 70,770 shares of the technology company’s stock worth $3,827,000 after buying an additional 900 shares during the last quarter. National Pension Service raised its stake in shares of AMTEK by 4.2% in the first quarter. National Pension Service now owns 216,201 shares of the technology company’s stock worth $11,701,000 after buying an additional 8,708 shares during the last quarter. Cim LLC raised its stake in shares of AMTEK by 6.0% in the first quarter. Cim LLC now owns 8,983 shares of the technology company’s stock worth $486,000 after buying an additional 507 shares during the last quarter. Finally, Harvey Investment Co. LLC raised its stake in shares of AMTEK by 18.0% in the first quarter. Harvey Investment Co. LLC now owns 25,799 shares of the technology company’s stock worth $1,395,000 after buying an additional 3,935 shares during the last quarter. Institutional investors and hedge funds own 89.49% of the company’s stock.
Several analysts have issued reports on AME shares. BMO Capital Markets reissued an “outperform” rating and set a $67.00 target price (up from $65.00) on shares of AMTEK in a research note on Wednesday, May 3rd. Jefferies Group LLC reissued a “buy” rating and set a $66.00 target price (up from $63.00) on shares of AMTEK in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research note on Monday, June 5th. Morgan Stanley boosted their target price on shares of AMTEK from $57.00 to $62.00 and gave the company an “equal weight” rating in a research note on Monday, May 8th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $67.00 target price on shares of AMTEK in a research note on Tuesday, June 6th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $65.09.
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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