BMO Capital Markets reissued their buy rating on shares of AMTEK (NYSE:AME) in a research report report published on Monday. The brokerage currently has a $80.00 price objective on the technology company’s stock.
A number of other analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of AMTEK from a hold rating to a buy rating and set a $71.00 price objective for the company in a research note on Tuesday, September 5th. Royal Bank of Canada reissued a buy rating and issued a $70.00 price objective on shares of AMTEK in a research note on Friday, October 13th. Jefferies Group increased their price objective on shares of AMTEK from $66.00 to $77.00 and gave the stock a buy rating in a research note on Friday, October 13th. Finally, Oppenheimer raised their target price on shares of AMTEK to $75.00 and gave the company an outperform rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $72.00.
Shares of AMTEK (NYSE:AME) opened at $70.96 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.59 and a quick ratio of 1.16. The stock has a market cap of $16,400.00, a price-to-earnings ratio of 28.97, a PEG ratio of 2.35 and a beta of 1.36. AMTEK has a 52 week low of $48.21 and a 52 week high of $73.06.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.09 per share. The ex-dividend date is Tuesday, December 5th. This represents a $0.36 annualized dividend and a yield of 0.51%. AMTEK’s payout ratio is 15.13%.
In related news, Director Elizebeth R. Varet sold 3,050 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were sold at an average price of $71.83, for a total transaction of $219,081.50. Following the completion of the transaction, the director now directly owns 117,930 shares of the company’s stock, valued at $8,470,911.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Elizebeth R. Varet sold 3,000 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $66.30, for a total transaction of $198,900.00. The disclosure for this sale can be found here. Insiders have sold 196,970 shares of company stock valued at $13,238,102 over the last ninety days. 2.10% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in AME. Janus Henderson Group PLC lifted its position 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 purchasing an additional 6,374,794 shares during the last quarter. Boston Partners lifted its position in AMTEK by 21.7% during the third quarter. Boston Partners now owns 5,233,468 shares of the technology company’s stock valued at $345,618,000 after purchasing an additional 932,008 shares during the last quarter. Vanguard Group Inc. lifted its position in AMTEK by 3.1% during the second quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock valued at $1,367,497,000 after purchasing an additional 687,292 shares during the last quarter. SG Americas Securities LLC lifted its position in AMTEK by 2,013.0% during the second quarter. SG Americas Securities LLC now owns 631,958 shares of the technology company’s stock valued at $38,278,000 after purchasing an additional 602,050 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in AMTEK during the second quarter valued at $15,287,000. Institutional investors and hedge funds own 84.40% of the company’s stock.
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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