Northstar Asset Management LLC Has $4.54 Million Stake in AMTEK, Inc. (NYSE:AME)
Northstar Asset Management LLC decreased its position in AMTEK, Inc. (NYSE:AME) by 7.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,882 shares of the technology company’s stock after selling 5,727 shares during the period. AMTEK accounts for 2.0% of Northstar Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Northstar Asset Management LLC’s holdings in AMTEK were worth $4,536,000 as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in AME. Thrivent Financial for Lutherans raised its stake in shares of AMTEK by 5.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 8,097 shares of the technology company’s stock worth $393,000 after buying an additional 430 shares during the period. Quadrature Capital Ltd bought a new position in AMTEK during the fourth quarter worth $863,000. Hudson Bay Capital Management LP bought a new position in AMTEK during the fourth quarter worth $632,000. Teachers Advisors LLC increased its position in AMTEK by 55.0% in the fourth quarter. Teachers Advisors LLC now owns 963,371 shares of the technology company’s stock worth $46,820,000 after buying an additional 341,991 shares in the last quarter. Finally, Kentucky Retirement Systems bought a new position in AMTEK during the fourth quarter worth $816,000. Hedge funds and other institutional investors own 89.49% of the company’s stock.
AMTEK, Inc. (AME) traded up 0.24% during midday trading on Friday, reaching $62.94. 875,060 shares of the company were exchanged. AMTEK, Inc. has a one year low of $43.98 and a one year high of $64.97. The firm’s 50-day moving average is $62.23 and its 200-day moving average is $58.14. The firm has a market cap of $14.53 billion, a P/E ratio of 27.62 and a beta of 1.34.
AMTEK (NYSE:AME) last released its earnings results 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. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. On average, equities analysts expect that AMTEK, Inc. will post $2.53 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, September 14th. AMTEK’s dividend payout ratio (DPR) is presently 15.79%.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a research note on Wednesday, June 21st. BidaskClub downgraded shares of AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $67.00 target price on shares of AMTEK in a research note on Tuesday, June 6th. Jefferies Group LLC reissued a “buy” rating and issued a $66.00 target price (up previously from $63.00) on shares of AMTEK in a research note on Wednesday, May 3rd. Finally, Morgan Stanley raised 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. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $65.09.
In other AMTEK news, insider Timothy N. Jones sold 39,955 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $61.95, for a total value of $2,475,212.25. Following the sale, the insider now owns 40,025 shares of the company’s stock, valued at approximately $2,479,548.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $61.96, for a total transaction of $185,880.00. Following the completion of the sale, the director now directly owns 123,880 shares in the company, valued at approximately $7,675,604.80. The disclosure for this sale can be found here. Insiders sold a total of 53,055 shares of company stock worth $3,303,253 in the last three months. 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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