Invictus RG Invests $308,000 in AMTEK, Inc. (AME)
Invictus RG purchased a new stake in AMTEK, Inc. (NYSE:AME) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,666 shares of the technology company’s stock, valued at approximately $308,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its stake in AMTEK by 17.7% in the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock valued at $104,000 after acquiring an additional 263 shares during the last quarter. BB&T Investment Services Inc. bought a new position in AMTEK in the second quarter valued at approximately $107,000. Edmond DE Rothschild Holding S.A. bought a new position in AMTEK in the second quarter valued at approximately $151,000. Acrospire Investment Management LLC increased its stake in AMTEK by 104.0% in the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock valued at $154,000 after acquiring an additional 1,300 shares during the last quarter. Finally, QS Investors LLC increased its stake in AMTEK by 0.9% in the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock valued at $172,000 after acquiring an additional 25 shares during the last quarter. Institutional investors own 84.25% of the company’s stock.
A number of research analysts recently issued reports on the stock. BidaskClub cut shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research cut shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Stifel Nicolaus set a $70.00 target price on shares of AMTEK and gave the stock a “buy” rating in a research note on Friday, October 6th. Robert W. Baird reaffirmed a “buy” rating and set a $70.00 target price on shares of AMTEK in a research note on Friday, October 6th. Finally, Morgan Stanley boosted their target price on shares of AMTEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. AMTEK has an average rating of “Buy” and a consensus price target of $71.80.
AMTEK (NYSE:AME) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.04. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations 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 firm posted $0.56 earnings per share. analysts expect that AMTEK, Inc. will post 2.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Stockholders of record on Wednesday, December 6th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.51%. AMTEK’s dividend payout ratio (DPR) is presently 15.13%.
In other news, Director Elizebeth R. Varet sold 3,050 shares of AMTEK stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $71.83, for a total transaction of $219,081.50. Following the transaction, the director now owns 117,930 shares in the company, valued at $8,470,911.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Thomas C. Marecic sold 12,315 shares of AMTEK stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $66.36, for a total transaction of $817,223.40. Following the transaction, the insider now owns 38,367 shares in the company, valued at approximately $2,546,034.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 171,005 shares of company stock worth $11,374,594. 2.10% of the stock is owned by company insiders.
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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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