AMTEK, Inc. (AME) Receives Average Recommendation of “Buy” from Analysts
AMTEK, Inc. (NYSE:AME) has received a consensus rating of “Buy” from the twelve research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $65.09.
A number of equities analysts recently weighed in on the company. Oppenheimer Holdings, Inc. upped their price target on AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. BMO Capital Markets upped their price target on AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Zacks Investment Research raised AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday. Jefferies Group LLC reaffirmed a “buy” rating and issued a $66.00 price target on shares of AMTEK in a report on Thursday, August 3rd. Finally, BidaskClub cut AMTEK from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th.
Shares of AMTEK (AME) opened at 62.74 on Friday. The company’s 50 day moving average price is $61.79 and its 200 day moving average price is $57.65. AMTEK has a 52-week low of $43.98 and a 52-week high of $64.97. The stock has a market cap of $14.48 billion, a PE ratio of 27.53 and a beta of 1.34.
AMTEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The business had revenue of $1.06 billion during 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 company’s revenue for the quarter was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. On average, analysts anticipate that AMTEK will post $2.52 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a dividend of $0.09 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.36 annualized dividend and a yield of 0.57%. AMTEK’s dividend payout ratio (DPR) is currently 15.79%.
In other AMTEK news, insider Timothy N. Jones sold 39,955 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $61.95, for a total transaction of $2,475,212.25. Following the completion of the sale, the insider now directly owns 40,025 shares in the company, valued at approximately $2,479,548.75. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ronald J. Oscher sold 5,315 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $60.05, for a total value of $319,165.75. Following the sale, the insider now owns 32,131 shares of the company’s stock, valued at $1,929,466.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,370 shares of company stock valued at $3,432,699. 2.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of AME. BlackRock Inc. raised its stake in AMTEK by 3,109.3% in the first quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after buying an additional 13,392,716 shares during the period. Boston Partners raised its stake in AMTEK by 534.8% in the first quarter. Boston Partners now owns 3,439,416 shares of the technology company’s stock valued at $186,004,000 after buying an additional 2,897,568 shares during the period. American Century Companies Inc. raised its stake in AMTEK by 115.2% in the first quarter. American Century Companies Inc. now owns 2,777,068 shares of the technology company’s stock valued at $150,184,000 after buying an additional 1,486,889 shares during the period. Wellington Management Group LLP raised its stake in AMTEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock valued at $569,372,000 after buying an additional 868,895 shares during the period. Finally, FMR LLC raised its stake in AMTEK by 3.4% in the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock valued at $1,172,925,000 after buying an additional 717,489 shares during the period. Institutional investors own 89.53% of the company’s stock.
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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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