AMTEK, Inc. (AME) Receives Consensus Recommendation of “Buy” from Analysts
AMTEK, Inc. (NYSE:AME) has received an average recommendation of “Buy” from the eleven ratings firms that are presently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $68.44.
Several equities research analysts recently weighed in on AME shares. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $71.00 price target on the stock in a research note on Tuesday, September 5th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $70.00 price target on shares of AMTEK in a research note on Friday, October 13th. Jefferies Group LLC increased their target price on AMTEK from $66.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, October 13th. BMO Capital Markets reissued a “buy” rating and issued a $67.00 target price on shares of AMTEK in a research note on Tuesday, June 27th. Finally, BidaskClub cut AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th.
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In other news, Director Elizebeth R. Varet sold 3,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $66.30, for a total transaction of $198,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Frank S. Hermance sold 150,840 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total value of $10,012,759.20. Following the transaction, the insider now directly owns 2,191,341 shares in the company, valued at $145,461,215.58. The disclosure for this sale can be found here. Over the last three months, insiders sold 173,255 shares of company stock worth $11,483,064. Insiders own 2.10% of the company’s stock.
Several large investors have recently made changes to their positions in AME. Commonwealth Bank of Australia lifted 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 valued at $104,000 after purchasing an additional 263 shares in the last quarter. BB&T Investment Services Inc. bought a new position in shares of AMTEK during the second quarter valued at $107,000. Edmond DE Rothschild Holding S.A. bought a new position in shares of AMTEK during the second quarter valued at $151,000. Acrospire Investment Management LLC lifted 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 valued at $154,000 after purchasing an additional 1,300 shares in the last quarter. Finally, QS Investors LLC lifted its holdings in shares of AMTEK by 0.9% during the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock valued at $172,000 after purchasing an additional 25 shares in the last quarter. 85.60% of the stock is currently owned by hedge funds and other institutional investors.
AMTEK (NYSE:AME) opened at 68.73 on Wednesday. AMTEK has a one year low of $43.98 and a one year high of $69.07. The company has a 50 day moving average price of $66.26 and a 200-day moving average price of $62.13. The company has a market capitalization of $15.86 billion, a PE ratio of 30.16 and a beta of 1.31.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Analysts expect that AMTEK will post $2.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.09 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.52%. AMTEK’s dividend payout ratio is currently 15.79%.
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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