Zacks Investment Research cut shares of Allied Motion Technologies (NASDAQ:AMOT) from a strong-buy rating to a hold rating in a report published on Wednesday.
According to Zacks, “Hathaway Corporation is engaged in the business of designing, manufacturing and selling advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. The company’s power instrumentation products helps ensure that electric utilities provide high quality service to consumers of electricity. The company’s equipment assists the electric power system operators in operating and maintaining proper system performance. “
A number of other equities research analysts also recently issued reports on the company. BidaskClub downgraded Allied Motion Technologies from a buy rating to a hold rating in a research report on Tuesday, December 5th. TheStreet raised Allied Motion Technologies from a c+ rating to a b rating in a research report on Thursday, November 16th.
Several hedge funds and other institutional investors have recently modified their holdings of AMOT. Salem Investment Counselors Inc. purchased a new stake in shares of Allied Motion Technologies in the second quarter worth about $1,145,000. Quantum Capital Management purchased a new stake in shares of Allied Motion Technologies in the third quarter worth about $843,000. Wedge Capital Management L L P NC purchased a new stake in shares of Allied Motion Technologies in the third quarter worth about $697,000. Walthausen & Co. LLC boosted its position in shares of Allied Motion Technologies by 11.9% in the second quarter. Walthausen & Co. LLC now owns 240,287 shares of the technology company’s stock worth $6,541,000 after buying an additional 25,476 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Allied Motion Technologies by 4.8% in the second quarter. Dimensional Fund Advisors LP now owns 410,463 shares of the technology company’s stock worth $11,173,000 after buying an additional 18,839 shares during the period. 41.12% of the stock is owned by institutional investors.
Allied Motion Technologies Company Profile
Allied Motion Technologies Inc designs, manufactures and sells precision and specialty motion control components and systems used in a range of industries. The Company serves various markets, including vehicle, medical, aerospace and defense, electronics and industrial. It focuses on motion control applications.
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