AMTEK, Inc. (NYSE:AME) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Friday.
Several other brokerages also recently issued reports on AME. Zacks Investment Research raised shares of AMTEK from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Monday, August 7th. Cowen and Company reissued an “outperform” rating and set a $66.00 price objective (up from $62.00) on shares of AMTEK in a research report on Friday, July 7th. Stifel Nicolaus reissued a “buy” rating and set a $69.00 price objective (up from $66.00) on shares of AMTEK in a research report on Thursday, June 8th. BMO Capital Markets raised their price objective on shares of AMTEK from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Finally, Jefferies Group LLC reissued a “buy” rating and set a $66.00 price objective (up from $63.00) on shares of AMTEK in a research report on Wednesday, May 3rd. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $65.09.
Shares of AMTEK (AME) opened at 62.58 on Friday. The stock has a market capitalization of $14.44 billion, a price-to-earnings ratio of 27.46 and a beta of 1.34. AMTEK has a 12-month low of $43.98 and a 12-month high of $64.97. The firm has a 50-day moving average of $61.84 and a 200 day moving average of $57.74.
AMTEK (NYSE:AME) last issued its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.03. AMTEK had a net margin of 13.26% and a return on equity of 16.28%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the firm posted $0.59 EPS. AMTEK’s revenue for the quarter was up 8.9% on a year-over-year basis. Equities analysts forecast that AMTEK will post $2.52 earnings per share for the current fiscal year.
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In other news, insider Ronald J. Oscher sold 5,315 shares of AMTEK stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $60.05, for a total value of $319,165.75. Following the sale, the insider now owns 32,131 shares of the company’s stock, valued at $1,929,466.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas M. Montgomery sold 1,500 shares of AMTEK stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $64.49, for a total transaction of $96,735.00. Following the completion of the sale, the vice president now directly owns 21,747 shares in the company, valued at approximately $1,402,464.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,370 shares of company stock worth $3,432,699. Insiders own 2.10% of the company’s stock.
Several hedge funds have recently modified their holdings of AME. Vanguard Group Inc. increased its stake in shares of AMTEK by 3.1% in 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 buying an additional 687,292 shares during the last quarter. FMR LLC increased its stake in shares of AMTEK by 3.4% in the first quarter. FMR LLC now owns 21,688,705 shares of the technology company’s stock valued at $1,172,925,000 after buying an additional 717,489 shares during the last quarter. BlackRock Inc. increased its stake in shares of AMTEK by 0.8% in the second quarter. BlackRock Inc. now owns 13,935,315 shares of the technology company’s stock valued at $844,062,000 after buying an additional 111,864 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of AMTEK by 9.0% in the first quarter. Wellington Management Group LLP now owns 10,528,307 shares of the technology company’s stock valued at $569,372,000 after buying an additional 868,895 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of AMTEK by 2.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,743,890 shares of the technology company’s stock valued at $256,549,000 after buying an additional 107,817 shares during the last quarter. 89.53% of the stock is currently owned by institutional investors and hedge funds.
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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