AMTEK, Inc. (NYSE:AME) has earned a consensus recommendation of “Buy” from the eleven brokerages that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $72.22.

Several research analysts have weighed in on the company. Zacks Investment Research upgraded AMTEK from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, September 5th. Royal Bank of Canada reiterated a “buy” rating and set a $70.00 price objective on shares of AMTEK in a research report on Friday, October 13th. Morgan Stanley increased their price objective on AMTEK from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, November 3rd. Finally, Oppenheimer increased their price objective on AMTEK to $75.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd.

In related news, insider David A. Zapico sold 25,965 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $71.77, for a total value of $1,863,508.05. Following the transaction, the insider now owns 200,548 shares in the company, valued at $14,393,329.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Thomas C. Marecic sold 12,315 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $66.36, for a total value of $817,223.40. Following the completion of the transaction, the insider now owns 38,367 shares in the company, valued at approximately $2,546,034.12. The disclosure for this sale can be found here. Insiders sold 196,970 shares of company stock worth $13,238,102 in the last 90 days. 2.10% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of AME. Commonwealth Bank of Australia increased its position in shares of AMTEK by 17.7% in 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 period. BB&T Investment Services Inc. bought a new position in AMTEK in the second quarter valued at about $107,000. Zions Bancorporation bought a new position in AMTEK in the third quarter valued at about $150,000. Edmond DE Rothschild Holding S.A. bought a new position in AMTEK in the second quarter valued at about $151,000. Finally, Acrospire Investment Management LLC grew its position in AMTEK by 104.0% in the second quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock valued at $154,000 after acquiring an additional 1,300 shares during the last quarter. Institutional investors own 84.40% of the company’s stock.

Shares of AMTEK (NYSE:AME) opened at $71.71 on Thursday. AMTEK has a twelve month low of $48.21 and a twelve month high of $73.06. The stock has a market capitalization of $16,619.64, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.34 and a beta of 1.36. The company has a current ratio of 1.59, a quick ratio of 1.16 and a debt-to-equity ratio of 0.51.

AMTEK (NYSE:AME) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.04. AMTEK had a return on equity of 16.74% and a net margin of 14.15%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the firm posted $0.56 EPS. The company’s quarterly revenue was up 14.8% on a year-over-year basis. equities research analysts expect that AMTEK will post 2.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Tuesday, December 5th. AMTEK’s payout ratio is currently 15.13%.

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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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