Amtek Inc. (NYSE:AME) gapped up before the market opened on Monday . The stock had previously closed at $47.46, but opened at $47.60. Amtek shares last traded at $47.99, with a volume of 267,728 shares changing hands.

A number of equities research analysts have recently commented on the company. Jefferies Group cut their price objective on Amtek from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, August 9th. Royal Bank Of Canada cut their price objective on Amtek from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, August 5th. Robert W. Baird lowered Amtek from an “outperform” rating to a “neutral” rating and increased their target price for the company from $49.00 to $51.00 in a report on Friday, April 29th. Atlantic Securities lowered Amtek from an “overweight” rating to a “neutral” rating and set a $51.00 target price for the company. in a report on Friday, April 29th. Finally, Oppenheimer Holdings Inc. reduced their target price on Amtek from $56.00 to $54.00 and set an “outperform” rating for the company in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Amtek has an average rating of “Buy” and an average price target of $53.09.

The stock has a 50 day moving average of $46.68 and a 200 day moving average of $47.61. The stock has a market capitalization of $11.23 billion and a price-to-earnings ratio of 20.20.

Amtek (NYSE:AME) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.59 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.59. The company earned $977.70 million during the quarter, compared to analyst estimates of $986.35 million. During the same period in the prior year, the business earned $0.64 EPS. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. Equities research analysts predict that Amtek Inc. will post $2.30 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Wednesday, September 14th.

In other Amtek news, insider Thomas C. Marecic sold 6,500 shares of Amtek stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $44.89, for a total transaction of $291,785.00. Following the completion of the sale, the insider now owns 29,526 shares of the company’s stock, valued at approximately $1,325,422.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James R. Malone sold 1,350 shares of Amtek stock in a transaction on Friday, May 27th. The stock was sold at an average price of $47.83, for a total transaction of $64,570.50. Following the sale, the director now directly owns 2,450 shares of the company’s stock, valued at approximately $117,183.50. The disclosure for this sale can be found here.

Other hedge funds have added to or reduced their stakes in the company. Advantus Capital Management Inc raised its stake in Amtek by 2.3% in the fourth quarter. Advantus Capital Management Inc now owns 23,064 shares of the company’s stock worth $1,236,000 after buying an additional 525 shares in the last quarter. Suntrust Banks Inc. raised its stake in Amtek by 17.2% in the fourth quarter. Suntrust Banks Inc. now owns 23,244 shares of the company’s stock worth $1,244,000 after buying an additional 3,408 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in Amtek by 5.9% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 32,106 shares of the company’s stock worth $1,721,000 after buying an additional 1,783 shares in the last quarter. Andra AP fonden raised its stake in Amtek by 10.3% in the fourth quarter. Andra AP fonden now owns 32,200 shares of the company’s stock worth $1,726,000 after buying an additional 3,000 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK raised its stake in Amtek by 26.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 46,770 shares of the company’s stock worth $2,601,000 after buying an additional 9,816 shares in the last quarter.

AMETEK, Inc (AMETEK) is a manufacturer of electronic instruments and electromechanical devices. The Company operates through two segments: Electronic Instruments (EIG) and Electromechanical (EMG). EIG designs and manufactures advanced instruments for the process, aerospace, power and industrial markets.

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