Zacks Investment Research lowered shares of AMTEK (NYSE:AME) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “AMETEK is one of the leading manufacturers of electronic appliances and electromechanical devices. It continues to reap the benefits from the execution of its four core growth strategies of operational excellence, global market expansion, investments in product development and strategic acquisitions. This, in combination with a strong portfolio of differentiated businesses, is expected to help the company post better results, going forward. However, weakness in its balance sheet, integration issues and an overly high goodwill associated with an aggressive acquisition strategy are concerns. Foreign exchange headwinds remain. Notably, in past 12 months, the stock has outperformed the industry.”
A number of other analysts have also commented on the stock. Cowen reiterated a buy rating and issued a $80.00 price target on shares of AMTEK in a research note on Friday, December 22nd. Oppenheimer reiterated a buy rating and issued a $75.00 price target on shares of AMTEK in a research note on Thursday, December 21st. BMO Capital Markets reiterated a buy rating and issued a $80.00 price target on shares of AMTEK in a research note on Monday, December 11th. Stifel Nicolaus reiterated a buy rating on shares of AMTEK in a research note on Monday, December 11th. Finally, Morgan Stanley lifted their price target on shares of AMTEK from $64.00 to $67.00 and gave the stock an equal weight rating in a research note on Friday, November 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. AMTEK currently has an average rating of Buy and a consensus target price of $74.00.
Shares of AMTEK (NYSE AME) traded up $0.61 during trading on Wednesday, reaching $73.98. 1,170,000 shares of the company’s stock traded hands, compared to its average volume of 1,080,000. 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 capitalization of $17,100.00, a PE ratio of 31.08, a PEG ratio of 2.14 and a beta of 1.36. AMTEK has a twelve month low of $48.66 and a twelve month high of $74.50.
AMTEK (NYSE:AME) last issued its earnings results on Thursday, November 2nd. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $1.04 billion. During the same period in the previous year, the company earned $0.56 earnings per share. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. research analysts forecast that AMTEK will post 2.58 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were given a dividend of $0.09 per share. The ex-dividend date was Tuesday, December 5th. This represents a $0.36 annualized dividend and a yield of 0.49%. AMTEK’s dividend payout ratio (DPR) is 15.13%.
In related news, VP Thomas M. Montgomery sold 1,800 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $1,403,271.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Elizebeth R. Varet sold 3,050 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 117,930 shares of the company’s stock, valued at $8,470,911.90. The disclosure for this sale can be found here. Insiders have sold 30,815 shares of company stock valued at $2,209,220 over the last 90 days. 2.10% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. QS Investors LLC grew its position in AMTEK by 0.9% during the second quarter. QS Investors LLC now owns 2,846 shares of the technology company’s stock valued at $172,000 after buying an additional 25 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in AMTEK by 0.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,096 shares of the technology company’s stock valued at $1,036,000 after buying an additional 74 shares during the period. M&T Bank Corp grew its position in AMTEK by 0.3% during the second quarter. M&T Bank Corp now owns 33,724 shares of the technology company’s stock valued at $2,043,000 after buying an additional 101 shares during the period. Sentry Investment Management LLC grew its position in AMTEK by 1.1% during the second quarter. Sentry Investment Management LLC now owns 15,008 shares of the technology company’s stock valued at $909,000 after buying an additional 157 shares during the period. Finally, Raymond James Trust N.A. grew its position in AMTEK by 2.0% during the second quarter. Raymond James Trust N.A. now owns 8,142 shares of the technology company’s stock valued at $493,000 after buying an additional 158 shares during the period. Institutional investors own 84.76% of the company’s stock.
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.
Receive News & Ratings for AMTEK Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AMTEK and related companies with MarketBeat.com's FREE daily email newsletter.