AMTEK, Inc. (NYSE:AME) had its price target raised by BMO Capital Markets from $67.00 to $69.00 in a research report sent to investors on Thursday morning. BMO Capital Markets currently has an outperform rating on the technology company’s stock.
A number of other brokerages have also recently commented on AME. Jefferies Group LLC restated a buy rating and set a $66.00 price target on shares of AMTEK in a research note on Thursday. Oppenheimer Holdings, Inc. upped their price target on shares of AMTEK from $65.00 to $70.00 and gave the company an outperform rating in a research note on Thursday. Zacks Investment Research lowered shares of AMTEK from a buy rating to a hold rating in a report on Monday, June 19th. Royal Bank Of Canada reaffirmed a buy rating and set a $67.00 target price on shares of AMTEK in a report on Tuesday, June 6th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $69.00 target price (up previously from $66.00) on shares of AMTEK in a report on Thursday, June 8th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $64.82.
Shares of AMTEK (NYSE:AME) traded up 0.19% on Thursday, reaching $64.52. 815,268 shares of the company were exchanged. The firm has a 50 day moving average price of $61.39 and a 200-day moving average price of $57.13. The stock has a market capitalization of $14.85 billion, a PE ratio of 28.31 and a beta of 1.34. AMTEK has a 12-month low of $43.30 and a 12-month high of $64.73.
AMTEK (NYSE:AME) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.65 EPS for the quarter, beating the Zacks’ 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 net margin of 13.26% and a return on equity of 16.28%. AMTEK’s revenue was up 8.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.59 EPS. On average, analysts predict that AMTEK will post $2.51 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, September 14th. AMTEK’s dividend payout ratio (DPR) is presently 15.79%.
In other news, insider Ronald J. Oscher sold 5,315 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $60.05, for a total value of $319,165.75. Following the transaction, the insider now owns 32,131 shares of the company’s stock, valued at approximately $1,929,466.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction on Friday, June 9th. The stock was sold at an average price of $62.66, for a total transaction of $187,980.00. Following the completion of the transaction, the director now directly owns 120,880 shares in the company, valued at approximately $7,574,340.80. The disclosure for this sale can be found here. Insiders have sold a total of 57,738 shares of company stock worth $3,554,793 in the last ninety days. 2.10% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Cadence Capital Management LLC raised its position in shares of AMTEK by 0.9% in the second quarter. Cadence Capital Management LLC now owns 6,960 shares of the technology company’s stock worth $422,000 after buying an additional 62 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of AMTEK by 1.1% in the second quarter. State Board of Administration of Florida Retirement System now owns 360,613 shares of the technology company’s stock worth $21,842,000 after buying an additional 3,806 shares during the last quarter. Turner Investments LLC bought a new position in shares of AMTEK during the second quarter worth approximately $1,333,000. First Personal Financial Services raised its position in shares of AMTEK by 57.3% in the second quarter. First Personal Financial Services now owns 3,265 shares of the technology company’s stock worth $198,000 after buying an additional 1,190 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of AMTEK by 5.5% in the second quarter. Legal & General Group Plc now owns 1,148,605 shares of the technology company’s stock worth $69,572,000 after buying an additional 59,653 shares during the last quarter. 89.82% of the stock is currently owned by hedge funds and other institutional investors.
AMTEK Company Profile
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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