AMTEK, Inc. (NYSE:AME) has been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $72.22.
Several equities analysts have recently issued reports on AME shares. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Thursday, August 24th. Robert W. Baird reiterated a “buy” rating and issued a $70.00 target price on shares of AMTEK in a report on Friday, October 6th. Stifel Nicolaus set a $70.00 target price on shares of AMTEK and gave the stock a “buy” rating in a report on Friday, October 6th. Royal Bank of Canada reiterated a “buy” rating and issued a $70.00 target price on shares of AMTEK in a report on Friday, October 13th. Finally, Jefferies Group raised their target price on shares of AMTEK from $66.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, October 13th.
Shares of AMTEK (NYSE:AME) traded up $0.24 on Thursday, hitting $71.22. 3,170,000 shares of the stock traded hands, compared to its average volume of 1,410,000. The firm has a market cap of $16,460.00, a PE ratio of 28.60, a P/E/G ratio of 2.32 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.59 and a quick ratio of 1.16. AMTEK has a 12 month low of $48.21 and a 12 month high of $73.06.
AMTEK (NYSE:AME) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.04. The company had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. equities research analysts forecast 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 issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Tuesday, December 5th. AMTEK’s dividend payout ratio is currently 15.13%.
In related news, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $70.35, for a total transaction of $126,630.00. Following the completion of the sale, the vice president now directly owns 19,947 shares in the company, valued at $1,403,271.45. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Thomas C. Marecic sold 12,315 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $66.36, for a total transaction of $817,223.40. Following the sale, the insider now owns 38,367 shares of the company’s stock, valued at $2,546,034.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,970 shares of company stock valued at $13,238,102. 2.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of AME. Retirement Systems of Alabama boosted its holdings in shares of AMTEK by 0.6% during the second quarter. Retirement Systems of Alabama now owns 111,569 shares of the technology company’s stock worth $6,758,000 after purchasing an additional 647 shares during the period. Global X Management Co. LLC boosted its holdings in shares of AMTEK by 41.6% during the second quarter. Global X Management Co. LLC now owns 5,233 shares of the technology company’s stock worth $317,000 after purchasing an additional 1,538 shares during the period. Trexquant Investment LP acquired a new stake in shares of AMTEK during the second quarter worth approximately $345,000. Schwab Charles Investment Management Inc. boosted its holdings in shares of AMTEK by 6.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 770,795 shares of the technology company’s stock worth $46,688,000 after purchasing an additional 47,517 shares during the period. Finally, National Planning Corp acquired a new stake in shares of AMTEK during the second quarter worth approximately $208,000. Institutional investors and hedge funds own 84.40% 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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