AMTEK, Inc. (AME) Receives $71.80 Consensus Target Price from Brokerages

Shares of AMTEK, Inc. (NYSE:AME) have received a consensus recommendation of “Buy” from the eleven analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $71.80.

AME has been the subject of several research reports. Jefferies Group LLC restated a “buy” rating and set a $66.00 price objective on shares of AMTEK in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. raised their price objective on shares of AMTEK from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. BMO Capital Markets raised their price objective on shares of AMTEK from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research report on Monday, August 7th. Finally, BidaskClub lowered shares of AMTEK from a “buy” rating to a “hold” rating in a research report on Friday, August 11th.

In other AMTEK news, VP Thomas M. Montgomery sold 1,800 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $1,403,271.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frank S. Hermance sold 150,840 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 2,191,341 shares of the company’s stock, valued at $145,461,215.58. The disclosure for this sale can be found here. Insiders have sold 167,955 shares of company stock valued at $11,155,513 over the last ninety days. Insiders own 2.10% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Crossmark Global Holdings Inc. purchased a new stake in AMTEK during the third quarter valued at about $2,710,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in AMTEK by 1.6% during 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 buying an additional 9,831 shares in the last quarter. Janus Henderson Group PLC lifted its stake in AMTEK by 22,076.4% during 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 buying an additional 6,374,794 shares in the last quarter. State Treasurer State of Michigan lifted its stake in AMTEK by 0.3% during 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 buying an additional 200 shares in the last quarter. Finally, Keybank National Association OH lifted its stake in AMTEK by 4.0% during the second quarter. Keybank National Association OH now owns 4,742 shares of the technology company’s stock valued at $287,000 after buying an additional 181 shares in the last quarter. 83.90% of the stock is owned by institutional investors.

Shares of AMTEK (NYSE AME) traded down $0.11 on Friday, reaching $70.24. 1,000,225 shares of the company were exchanged, compared to its average volume of 1,353,409. The company has a market cap of $16,230.00, a price-to-earnings ratio of 28.38, a PEG ratio of 2.40 and a beta of 1.33. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.51. AMTEK has a 12-month low of $45.78 and a 12-month high of $71.24.

AMTEK (NYSE:AME) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $0.56 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. research analysts anticipate that AMTEK will post 2.58 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 20th. Shareholders of record on Wednesday, December 6th will be paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Tuesday, December 5th. AMTEK’s dividend payout ratio is presently 15.13%.

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AMTEK Company Profile

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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