Renaissance Technologies LLC Sells 34,400 Shares of Allied Motion Technologies Inc. (NASDAQ:AMOT)

Renaissance Technologies LLC reduced its holdings in shares of Allied Motion Technologies Inc. (NASDAQ:AMOT – Get Rating) by 13.1% during the third quarter, Holdings Channel reports. The fund owned 227,222 shares of the technology company’s stock after selling 34,400 shares during the period. Renaissance Technologies LLC’s holdings in Allied Motion Technologies were worth $6,503,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AMOT. Parcion Private Wealth LLC boosted its stake in shares of Allied Motion Technologies by 426.6% during the third quarter. Parcion Private Wealth LLC now owns 433,955 shares of the technology company’s stock valued at $12,420,000 after purchasing an additional 351,543 shares during the period. Edge Capital Group LLC boosted its stake in shares of Allied Motion Technologies by 1,329.3% during the third quarter. Edge Capital Group LLC now owns 82,515 shares of the technology company’s stock valued at $2,362,000 after purchasing an additional 76,742 shares during the period. AlphaCentric Advisors LLC purchased a new stake in shares of Allied Motion Technologies during the third quarter valued at approximately $1,073,000. Sei Investments Co. purchased a new stake in shares of Allied Motion Technologies during the second quarter valued at approximately $712,000. Finally, Meros Investment Management LP boosted its stake in shares of Allied Motion Technologies by 30.5% during the second quarter. Meros Investment Management LP now owns 107,907 shares of the technology company’s stock valued at $2,465,000 after purchasing an additional 25,220 shares during the period. Hedge funds and other institutional investors own 58.45% of the company’s stock.

Allied Motion Technologies Stock Performance

Shares of Allied Motion Technologies stock opened at $39.36 on Friday. The company has a current ratio of 2.58, a quick ratio of 1.31 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $625.43 million, a P/E ratio of 36.11 and a beta of 1.48. The business has a fifty day simple moving average of $40.11 and a two-hundred day simple moving average of $35.15. Allied Motion Technologies Inc. has a 12 month low of $21.14 and a 12 month high of $44.88.

Allied Motion Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 5th. Stockholders of record on Wednesday, March 22nd will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, March 21st. This represents a $0.10 annualized dividend and a dividend yield of 0.25%. Allied Motion Technologies’s payout ratio is presently 9.17%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AMOT shares. Craig Hallum increased their price objective on Allied Motion Technologies from $43.00 to $52.00 in a research note on Thursday. Northland Securities lowered Allied Motion Technologies from an “outperform” rating to a “market perform” rating and set a $45.00 price target for the company. in a research note on Monday.

Allied Motion Technologies Profile

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Allied Motion Technologies, Inc engages in the provision of precision and specialty controlled motion components and systems used in a broad range of industries. Its target markets include vehicle, medical, aerospace and defense, and industrial. It offers brushless motors, brushless motor drives, brushed DC motors, gear motors, and blowers.