AMTEK, Inc. (AME) Given New $78.00 Price Target at BMO Capital Markets

AMTEK, Inc. (NYSE:AME) had its price target raised by BMO Capital Markets from $77.00 to $78.00 in a research note issued to investors on Friday. The brokerage currently has an outperform rating on the technology company’s stock.

AME has been the subject of several other research reports. Oppenheimer Holdings, Inc. increased their price objective on shares of AMTEK from $65.00 to $70.00 and gave the company an outperform rating in a report on Thursday, August 3rd. Robert W. Baird increased their price target on shares of AMTEK from $70.00 to $77.00 and gave the company an outperform rating in a report on Friday. Jefferies Group LLC increased their price target on shares of AMTEK from $66.00 to $77.00 and gave the company a buy rating in a report on Friday, October 13th. BidaskClub downgraded shares of AMTEK from a buy rating to a hold rating in a report on Friday, August 11th. Finally, Zacks Investment Research downgraded shares of AMTEK from a buy rating to a hold rating in a report on Tuesday, September 12th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $71.60.

AMTEK (AME) traded down $0.72 on Friday, hitting $67.66. 2,364,800 shares of the company’s stock traded hands, compared to its average volume of 1,115,619. The firm has a market cap of $15,637.38, a P/E ratio of 27.17, a P/E/G ratio of 2.30 and a beta of 1.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.25 and a current ratio of 1.59.

AMTEK (NYSE:AME) last released its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.62 by $0.04. AMTEK had a net margin of 13.37% and a return on equity of 16.48%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm earned $0.56 EPS. The business’s revenue was up 14.8% on a year-over-year basis. equities research analysts predict that AMTEK will post 2.58 earnings per share for the current year.

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In related news, insider Frank S. Hermance sold 150,840 shares of AMTEK stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total transaction of $10,012,759.20. Following the transaction, the insider now directly owns 2,191,341 shares of the company’s stock, valued at $145,461,215.58. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of AMTEK stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total transaction of $189,720.00. Following the transaction, the director now directly owns 117,880 shares in the company, valued at $7,454,731.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,655 shares of company stock worth $11,315,338. Corporate insiders own 2.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in AMTEK by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 633,825 shares of the technology company’s stock valued at $38,391,000 after acquiring an additional 9,831 shares in the last quarter. Janus Henderson Group PLC boosted its stake in AMTEK by 22,076.4% in the second quarter. Janus Henderson Group PLC now owns 6,403,670 shares of the technology company’s stock valued at $387,870,000 after acquiring an additional 6,374,794 shares in the last quarter. State Treasurer State of Michigan boosted its stake in AMTEK by 0.3% in the second quarter. State Treasurer State of Michigan now owns 75,584 shares of the technology company’s stock valued at $4,578,000 after acquiring an additional 200 shares in the last quarter. Keybank National Association OH boosted its stake in AMTEK by 4.0% in the second quarter. Keybank National Association OH now owns 4,742 shares of the technology company’s stock valued at $287,000 after acquiring an additional 181 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in AMTEK by 504.5% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 37,307 shares of the technology company’s stock valued at $2,260,000 after acquiring an additional 31,135 shares in the last quarter. 85.67% of the stock is currently owned by institutional investors.

About AMTEK

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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