AMTEK, Inc. (NYSE:AME) insider Frank S. Hermance sold 150,840 shares of AMTEK stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total transaction of $10,012,759.20. Following the completion of the sale, the insider now directly owns 2,191,341 shares of the company’s stock, valued at approximately $145,461,215.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
Shares of AMTEK, Inc. (AME) traded down 1.01% during midday trading on Friday, hitting $65.44. 517,974 shares of the stock were exchanged. The firm’s 50-day moving average is $63.58 and its 200-day moving average is $59.77. AMTEK, Inc. has a 12 month low of $43.98 and a 12 month high of $66.49. The stock has a market cap of $15.10 billion, a price-to-earnings ratio of 28.71 and a beta of 1.31.
AMTEK (NYSE:AME) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts predict that AMTEK, Inc. will post $2.52 earnings per share for the current year.
The firm 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 dividend of $0.09 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.36 annualized dividend and a dividend yield of 0.54%. AMTEK’s dividend payout ratio (DPR) is presently 15.79%.
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Institutional investors have recently modified their holdings of the stock. Commonwealth Bank of Australia raised its holdings in shares of AMTEK by 17.7% during the second quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after purchasing an additional 263 shares during the last quarter. BB&T Investment Services Inc. purchased a new position in shares of AMTEK during the second quarter worth $107,000. Edmond DE Rothschild Holding S.A. purchased a new position in shares of AMTEK during the second quarter worth $151,000. Acrospire Investment Management LLC raised its holdings in shares of AMTEK by 104.0% during the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of AMTEK by 7.0% during the first quarter. Van ECK Associates Corp now owns 3,008 shares of the technology company’s stock worth $163,000 after purchasing an additional 196 shares during the last quarter. 85.62% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on AME. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $74.00 target price for the company in a research report on Thursday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 target price on shares of AMTEK in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. lifted their target price on shares of AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. BMO Capital Markets lifted their target price on shares of AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, BidaskClub downgraded shares of AMTEK from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $65.27.
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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