AMTEK, Inc. (NYSE:AME)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a report released on Friday. They currently have a $70.00 target price on the technology company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 4.31% from the company’s current price.

AME has been the topic of several other research reports. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $71.00 target price on the stock in a report on Tuesday, September 5th. Cowen and Company reaffirmed an “outperform” rating and issued a $66.00 target price (up previously from $62.00) on shares of AMTEK in a report on Friday, July 7th. BMO Capital Markets raised their target price on shares of AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, BidaskClub cut shares of AMTEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $66.82.

AMTEK (NYSE:AME) last issued its quarterly 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. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 earnings per share.

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In related news, insider Frank S. Hermance sold 150,840 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 2,191,341 shares in the company, valued at approximately $145,461,215.58. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $63.24, for a total value of $189,720.00. Following the transaction, the director now owns 117,880 shares of the company’s stock, valued at $7,454,731.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 173,255 shares of company stock valued at $11,483,064. 2.10% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in AME. BlackRock Inc. grew its stake in shares of AMTEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock worth $747,572,000 after purchasing an additional 13,392,716 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of AMTEK by 22,076.4% in the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock worth $387,870,000 after purchasing an additional 6,374,794 shares in the last quarter. Boston Partners grew its stake in shares of AMTEK by 534.8% in the first quarter. Boston Partners now owns 3,439,416 shares of the technology company’s stock worth $186,004,000 after purchasing an additional 2,897,568 shares in the last quarter. Janus Capital Management LLC grew its stake in shares of AMTEK by 166.3% in the fourth quarter. Janus Capital Management LLC now owns 3,749,860 shares of the technology company’s stock worth $182,282,000 after purchasing an additional 2,341,543 shares in the last quarter. Finally, Norges Bank bought a new position in shares of AMTEK in the fourth quarter worth $97,055,000. 85.62% of the stock is owned by institutional investors.

About AMTEK

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.

Analyst Recommendations for AMTEK (NYSE:AME)

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