Oppenheimer Reaffirms Buy Rating for AMTEK (AME)
A number of other brokerages have also issued reports on AME. Royal Bank of Canada restated a buy rating and set a $70.00 target price on shares of AMTEK in a research report on Friday, October 13th. Zacks Investment Research upgraded shares of AMTEK from a hold rating to a buy rating and set a $71.00 target price on the stock in a research report on Tuesday, September 5th. Morgan Stanley raised their target price on shares of AMTEK from $64.00 to $67.00 and gave the stock an equal weight rating in a research report on Friday, November 3rd. Finally, Robert W. Baird restated a buy rating and set a $70.00 target price on shares of AMTEK in a research report on Friday, October 6th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $73.40.
AMTEK (NYSE AME) opened at $72.60 on Thursday. The company has a market cap of $16,783.73, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 2.37 and a beta of 1.36. AMTEK has a one year low of $48.21 and a one year high of $73.06. The company has a quick ratio of 1.16, a current ratio of 1.59 and a debt-to-equity ratio of 0.51.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 20th. Investors of record on Wednesday, December 6th were issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Tuesday, December 5th. AMTEK’s dividend payout ratio is presently 15.13%.
In other AMTEK news, insider David A. Zapico sold 25,965 shares of the firm’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $71.77, for a total value of $1,863,508.05. Following the completion of the sale, the insider now owns 200,548 shares of the company’s stock, valued at $14,393,329.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Thomas M. Montgomery sold 1,800 shares of the firm’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $70.35, for a total value 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 approximately $1,403,271.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,815 shares of company stock valued at $2,408,120. Corporate insiders own 2.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth Bank of Australia raised its stake in shares of AMTEK by 17.7% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,747 shares of the technology company’s stock worth $104,000 after buying an additional 263 shares during the last quarter. BB&T Investment Services Inc. acquired a new position in shares of AMTEK during the 2nd quarter worth $107,000. Zions Bancorporation acquired a new position in shares of AMTEK during the 3rd quarter worth $150,000. Edmond DE Rothschild Holding S.A. acquired a new position in shares of AMTEK during the 2nd quarter worth $151,000. Finally, Acrospire Investment Management LLC raised its stake in shares of AMTEK by 104.0% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,550 shares of the technology company’s stock worth $154,000 after buying an additional 1,300 shares during the last quarter. 84.24% 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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