AMTEK, Inc. (NYSE:AME) had its price objective increased by analysts at Jefferies Group LLC from $66.00 to $77.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Group LLC’s price target points to a potential upside of 14.74% from the company’s previous close.
Several other research analysts have also recently issued reports on AME. BMO Capital Markets reiterated a “buy” rating and issued a $67.00 price objective on shares of AMTEK in a research report 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 report on Friday, July 7th. Zacks Investment Research cut AMTEK from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub cut AMTEK from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Oppenheimer Holdings, Inc. increased their price objective on AMTEK from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $67.82.
AMTEK (NYSE:AME) last released 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. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.04 billion. AMTEK had a return on equity of 16.28% and a net margin of 13.26%. AMTEK’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 earnings per share.
In other AMTEK news, insider Frank S. Hermance sold 150,840 shares of AMTEK stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $66.38, for a total transaction of $10,012,759.20. Following the sale, the insider now directly owns 2,191,341 shares in the company, valued at approximately $145,461,215.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John Wesley Hardin sold 2,600 shares of AMTEK stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $64.51, for a total value of $167,726.00. Following the sale, the insider now owns 59,698 shares in the company, valued at $3,851,117.98. The disclosure for this sale can be found here. Insiders have sold a total of 173,255 shares of company stock worth $11,483,064 over the last 90 days. 2.10% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of AME. BlackRock Inc. grew its position in shares of AMTEK by 3,109.3% in the 1st quarter. BlackRock Inc. now owns 13,823,451 shares of the technology company’s stock worth $747,572,000 after acquiring an additional 13,392,716 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of 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 worth $387,870,000 after acquiring an additional 6,374,794 shares in the last quarter. Boston Partners grew its position in shares of AMTEK by 25.1% in the 2nd quarter. Boston Partners now owns 4,301,460 shares of the technology company’s stock worth $260,539,000 after acquiring an additional 862,044 shares in the last quarter. Vanguard Group Inc. grew its position in shares of AMTEK by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 22,577,145 shares of the technology company’s stock worth $1,367,497,000 after acquiring an additional 687,292 shares in the last quarter. Finally, SG Americas Securities LLC grew its position in shares of AMTEK by 2,013.0% in the 2nd quarter. SG Americas Securities LLC now owns 631,958 shares of the technology company’s stock worth $38,278,000 after acquiring an additional 602,050 shares in the last quarter. Institutional investors own 85.62% 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.
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