Allied Motion Technologies (NASDAQ:AMOT) Cut to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Allied Motion Technologies (NASDAQ:AMOT) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

According to Zacks, “Hathaway Corporation is engaged in the business of designing, manufacturing and selling advanced systems and instrumentation to the worldwide power and process industries, as well as motion control products to a broad spectrum of customers throughout the world. The company’s power instrumentation products helps ensure that electric utilities provide high quality service to consumers of electricity. The company’s equipment assists the electric power system operators in operating and maintaining proper system performance. “

Several other brokerages also recently weighed in on AMOT. BidaskClub upgraded shares of Allied Motion Technologies from a hold rating to a buy rating in a research note on Tuesday, July 23rd. ValuEngine upgraded shares of Allied Motion Technologies from a hold rating to a buy rating in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Allied Motion Technologies has an average rating of Hold and an average price target of $57.00.

Shares of AMOT traded down $1.23 during mid-day trading on Wednesday, hitting $34.77. 20,893 shares of the company’s stock were exchanged, compared to its average volume of 46,539. Allied Motion Technologies has a fifty-two week low of $31.72 and a fifty-two week high of $55.47. The stock has a market cap of $344.44 million, a price-to-earnings ratio of 20.45, a P/E/G ratio of 2.05 and a beta of 1.60. The company has a 50 day simple moving average of $38.08. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.63 and a quick ratio of 1.47.

Allied Motion Technologies (NASDAQ:AMOT) last announced its earnings results on Thursday, August 1st. The technology company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Allied Motion Technologies had a net margin of 4.82% and a return on equity of 15.62%. The business had revenue of $92.63 million during the quarter. On average, analysts expect that Allied Motion Technologies will post 1.75 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 28th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.03 per share. The ex-dividend date is Wednesday, August 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. Allied Motion Technologies’s dividend payout ratio (DPR) is 7.06%.

In other Allied Motion Technologies news, Director Michael R. Winter bought 1,400 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average price of $35.35 per share, for a total transaction of $49,490.00. Following the completion of the purchase, the director now owns 16,118 shares of the company’s stock, valued at $569,771.30. The acquisition was disclosed in a filing with the SEC, which is available through this link. 23.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in AMOT. Marshall Wace LLP acquired a new stake in Allied Motion Technologies in the first quarter valued at about $29,000. Advisor Group Inc. lifted its position in Allied Motion Technologies by 64.7% in the fourth quarter. Advisor Group Inc. now owns 1,400 shares of the technology company’s stock valued at $63,000 after purchasing an additional 550 shares during the period. BNP Paribas Arbitrage SA lifted its position in Allied Motion Technologies by 73,050.0% in the first quarter. BNP Paribas Arbitrage SA now owns 1,463 shares of the technology company’s stock valued at $50,000 after purchasing an additional 1,461 shares during the period. Metropolitan Life Insurance Co. NY lifted its position in Allied Motion Technologies by 365.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 2,308 shares of the technology company’s stock valued at $103,000 after purchasing an additional 1,812 shares during the period. Finally, Bank of America Corp DE lifted its position in Allied Motion Technologies by 121.6% in the fourth quarter. Bank of America Corp DE now owns 3,892 shares of the technology company’s stock valued at $173,000 after purchasing an additional 2,136 shares during the period. Institutional investors and hedge funds own 51.25% of the company’s stock.

About Allied Motion Technologies

Allied Motion Technologies, Inc designs, manufactures, and sells precision and specialty motion control components and systems that are used in a range of industries worldwide. It provides automotive brushless (BL) DC motors, power steering solutions, and special purpose motors; fractional horsepower permanent magnet DC and BLDC motors serving a range of original equipment applications; and high performance BLDC motors, including servo motors, frameless motors, torque motors, slot less motors, high resolution encoders, and motor/encoder assemblies.

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