Shares of AMTEK, Inc. (NYSE:AME) hit a new 52-week high during trading on Monday . The stock traded as high as $67.11 and last traded at $67.11, with a volume of 623,332 shares trading hands. The stock had previously closed at $66.99.
Several analysts recently commented on AME shares. BMO Capital Markets reiterated a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research note on Tuesday, June 27th. Cowen and Company reiterated an “outperform” rating and issued a $66.00 price objective (up previously from $62.00) on shares of AMTEK in a research note on Friday, July 7th. Zacks Investment Research cut shares of AMTEK from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. BidaskClub cut shares of AMTEK from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $66.00 price objective on shares of AMTEK in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.55.
The company has a market capitalization of $15.50 billion, a PE ratio of 29.47 and a beta of 1.31. The company’s 50 day moving average is $64.88 and its 200 day moving average is $61.11.
AMTEK (NYSE:AME) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.03. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. AMTEK’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.59 EPS. On average, equities analysts forecast that AMTEK, Inc. will post $2.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were given a $0.09 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.36 dividend on an annualized basis and a yield of 0.54%. AMTEK’s dividend payout ratio is presently 15.79%.
In related news, insider Frank S. Hermance sold 150,840 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $66.38, for a total value of $10,012,759.20. Following the completion of the transaction, the insider now owns 2,191,341 shares in the company, valued at approximately $145,461,215.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizebeth R. Varet sold 3,000 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $63.24, for a total transaction of $189,720.00. Following the completion of the transaction, the director now owns 117,880 shares of the company’s stock, valued at approximately $7,454,731.20. The disclosure for this sale can be found here. Insiders sold a total of 173,255 shares of company stock valued at $11,483,064 in the last quarter. 2.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of AME. BlackRock Inc. lifted its holdings in AMTEK by 3,109.3% in the 1st quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock valued at $747,572,000 after acquiring an additional 13,392,716 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in AMTEK by 22,076.4% in the 2nd 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 during the last quarter. Boston Partners lifted its holdings in AMTEK by 25.1% in the 2nd quarter. Boston Partners now owns 4,301,460 shares of the technology company’s stock valued at $260,539,000 after acquiring an additional 862,044 shares during the last quarter. Vanguard Group Inc. lifted its holdings in AMTEK by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock valued at $1,367,497,000 after acquiring an additional 687,292 shares during the last quarter. Finally, SG Americas Securities LLC lifted its holdings in AMTEK by 2,013.0% in the 2nd quarter. SG Americas Securities LLC now owns 631,958 shares of the technology company’s stock valued at $38,278,000 after acquiring an additional 602,050 shares during the last quarter. 85.62% of the stock is owned by institutional investors.
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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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