KCM Investment Advisors LLC Sells 40 Shares of AMTEK, Inc. (AME)
KCM Investment Advisors LLC reduced its stake in shares of AMTEK, Inc. (NYSE:AME) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,101 shares of the technology company’s stock after selling 40 shares during the quarter. KCM Investment Advisors LLC’s holdings in AMTEK were worth $248,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. TLP Group LLC grew its stake in shares of AMTEK by 83.8% during the first quarter. TLP Group LLC now owns 7,092 shares of the technology company’s stock valued at $384,000 after buying an additional 3,234 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of AMTEK by 1.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 633,825 shares of the technology company’s stock valued at $38,391,000 after buying an additional 9,831 shares during the last quarter. State Treasurer State of Michigan grew its stake in shares of AMTEK by 0.3% during the second quarter. State Treasurer State of Michigan now owns 75,584 shares of the technology company’s stock valued at $4,578,000 after buying an additional 200 shares during the last quarter. Century Capital Management LLC bought a new position in shares of AMTEK during the first quarter valued at about $3,341,000. Finally, BlackRock Inc. grew its stake in shares of AMTEK by 3,109.3% during 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 last quarter. 85.62% of the stock is currently owned by hedge funds and other institutional investors.
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A number of research analysts have recently issued reports on AME shares. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Monday, May 22nd. BMO Capital Markets reaffirmed a “buy” rating and set a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 27th. Jefferies Group LLC reaffirmed a “buy” rating and set a $66.00 price objective on shares of AMTEK in a research note on Thursday, August 3rd. BidaskClub cut AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $69.00 price objective (up from $66.00) on shares of AMTEK in a research note on Thursday, June 8th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $65.18.
Shares of AMTEK, Inc. (NYSE AME) opened at 65.33 on Monday. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of 28.67 and a beta of 1.31. The stock’s 50 day moving average is $63.32 and its 200-day moving average is $59.53. AMTEK, Inc. has a 12-month low of $43.98 and a 12-month high of $65.84.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion for 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%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.59 EPS. On average, analysts expect that AMTEK, Inc. will post $2.52 earnings per share for the current year.
The company also recently declared 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 of this dividend is Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 0.55%. AMTEK’s payout ratio is 15.79%.
In related news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total transaction of $189,720.00. Following the transaction, the director now directly owns 117,880 shares in the company, valued at approximately $7,454,731.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John Wesley Hardin sold 2,600 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $64.51, for a total transaction of $167,726.00. Following the transaction, the insider now owns 59,698 shares in the company, valued at $3,851,117.98. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $454,181 over the last quarter. 2.10% of the stock is currently owned by insiders.
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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