AMTEK, Inc. (NYSE:AME) was upgraded by Atlantic Securities from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $62.00 price target on the stock. Atlantic Securities’ price objective would indicate a potential upside of 15.71% from the stock’s previous close.
AME has been the topic of a number of other reports. RBC Capital Markets reissued an “outperform” rating and issued a $57.00 price target (down from $59.00) on shares of AMTEK in a research report on Wednesday, November 2nd. Royal Bank Of Canada boosted their price target on AMTEK from $57.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. Robert W. Baird raised AMTEK from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $47.00 to $57.00 in a research report on Thursday, December 22nd. Janney Montgomery Scott started coverage on AMTEK in a research report on Monday, October 24th. They issued a “buy” rating and a $56.00 price objective on the stock. Finally, Zacks Investment Research raised AMTEK from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $55.36.
AMTEK (NYSE:AME) opened at 53.58 on Wednesday. The firm has a 50-day moving average price of $50.91 and a 200 day moving average price of $48.41. AMTEK has a one year low of $43.28 and a one year high of $53.89. The company has a market cap of $12.33 billion, a price-to-earnings ratio of 24.47 and a beta of 1.11.
AMTEK (NYSE:AME) last issued its quarterly earnings results on Tuesday, February 7th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.00. AMTEK had a return on equity of 16.19% and a net margin of 13.34%. The firm had revenue of $973 million for the quarter, compared to analysts’ expectations of $969.84 million. During the same period in the previous year, the firm posted $0.63 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts expect that AMTEK will post $2.44 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be paid a $0.09 dividend. The ex-dividend date is Wednesday, March 15th. This represents a $0.36 annualized dividend and a dividend yield of 0.67%. AMTEK’s dividend payout ratio (DPR) is 16.44%.
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In other news, insider Frank S. Hermance sold 335,790 shares of the company’s stock in a transaction on Monday, February 13th. The stock was sold at an average price of $53.66, for a total value of $18,018,491.40. Following the completion of the sale, the insider now directly owns 386,429 shares in the company, valued at approximately $20,735,780.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Elizebeth R. Varet sold 4,000 shares of the company’s stock in a transaction on Friday, December 16th. The stock was sold at an average price of $49.22, for a total value of $196,880.00. Following the completion of the sale, the director now owns 123,840 shares of the company’s stock, valued at $6,095,404.80. The disclosure for this sale can be found here. Insiders sold a total of 345,223 shares of company stock valued at $18,505,928 over the last 90 days. 2.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. State Street Corp raised its stake in AMTEK by 5.3% in the fourth quarter. State Street Corp now owns 9,571,155 shares of the company’s stock valued at $465,162,000 after buying an additional 479,261 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in AMTEK by 1.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 6,038,206 shares of the company’s stock valued at $288,505,000 after buying an additional 114,944 shares during the period. JPMorgan Chase & Co. increased its position in shares of AMTEK by 8.3% in the third quarter. JPMorgan Chase & Co. now owns 4,856,543 shares of the company’s stock valued at $232,046,000 after buying an additional 372,809 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of AMTEK by 4.0% in the third quarter. BlackRock Fund Advisors now owns 3,805,242 shares of the company’s stock valued at $181,814,000 after buying an additional 144,631 shares in the last quarter. Finally, Janus Capital Management LLC increased its position in shares of AMTEK by 166.3% in the fourth quarter. Janus Capital Management LLC now owns 3,749,860 shares of the company’s stock valued at $182,282,000 after buying an additional 2,341,543 shares in the last quarter. Hedge funds and other institutional investors own 89.39% of the company’s stock.
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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