Eaton Vance Management Has $10.70 Million Stake in AMTEK, Inc. (AME)
Eaton Vance Management reduced its stake in AMTEK, Inc. (NYSE:AME) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 176,675 shares of the technology company’s stock after selling 33,872 shares during the period. Eaton Vance Management owned approximately 0.08% of AMTEK worth $10,701,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. TLP Group LLC boosted its holdings in shares of AMTEK by 83.8% in the first quarter. TLP Group LLC now owns 7,092 shares of the technology company’s stock worth $384,000 after acquiring an additional 3,234 shares during the period. Janney Montgomery Scott LLC boosted its holdings in shares of AMTEK by 47.8% in the first quarter. Janney Montgomery Scott LLC now owns 7,873 shares of the technology company’s stock worth $426,000 after acquiring an additional 2,548 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of AMTEK by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 633,825 shares of the technology company’s stock worth $38,391,000 after acquiring an additional 9,831 shares during the period. State Treasurer State of Michigan boosted its holdings in shares of AMTEK by 0.3% in the second quarter. State Treasurer State of Michigan now owns 75,584 shares of the technology company’s stock worth $4,578,000 after acquiring an additional 200 shares during the period. Finally, Century Capital Management LLC bought a new position in shares of AMTEK in the first quarter worth $3,341,000. 85.65% of the stock is owned by hedge funds and other institutional investors.
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In related news, insider John Wesley Hardin sold 2,600 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $64.51, for a total value of $167,726.00. Following the completion of the transaction, the insider now owns 59,698 shares of the company’s stock, valued at approximately $3,851,117.98. 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 company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $63.24, for a total transaction of $189,720.00. Following the completion of the transaction, the director now directly owns 117,880 shares of the company’s stock, valued at approximately $7,454,731.20. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock valued at $454,181 in the last ninety days. 2.10% of the stock is currently owned by insiders.
Shares of AMTEK, Inc. (NYSE AME) opened at 64.92 on Wednesday. The company has a market cap of $14.98 billion, a price-to-earnings ratio of 28.49 and a beta of 1.31. The company’s 50-day moving average price is $62.91 and its 200 day moving average price is $59.29. AMTEK, Inc. has a 1-year low of $43.98 and a 1-year high of $65.03.
AMTEK (NYSE:AME) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. AMTEK’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, analysts predict that AMTEK, Inc. will post $2.52 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend is Thursday, September 14th. AMTEK’s dividend payout ratio is currently 15.79%.
A number of research firms have recently commented on AME. Zacks Investment Research lowered AMTEK from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub lowered AMTEK from a “buy” rating to a “hold” rating in a report on Friday, August 11th. BMO Capital Markets raised their price target on AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Oppenheimer Holdings, Inc. raised their price target on AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of AMTEK in a report on Thursday, August 3rd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. AMTEK currently has a consensus rating of “Buy” and a consensus target price of $65.00.
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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