Zacks Investment Research upgraded shares of Allied Motion Technologies (NASDAQ:AMOT) from a hold rating to a strong-buy rating in a report published on Wednesday. Zacks Investment Research currently has $57.00 price target on the technology company’s stock.

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. “

AMOT has been the subject of a number of other reports. BidaskClub downgraded Allied Motion Technologies from a sell rating to a strong sell rating in a research report on Thursday, September 6th. Craig Hallum set a $62.00 target price on Allied Motion Technologies and gave the stock a buy rating in a research report on Friday, November 2nd. Finally, Dougherty & Co upgraded Allied Motion Technologies from a neutral rating to a buy rating in a research report on Monday, October 29th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $59.50.

AMOT traded down $2.01 during trading on Wednesday, reaching $47.65. The company had a trading volume of 28,369 shares, compared to its average volume of 72,600. The company has a market cap of $472.11 million, a PE ratio of 39.06, a P/E/G ratio of 2.68 and a beta of 2.19. Allied Motion Technologies has a 52 week low of $28.08 and a 52 week high of $55.47. The company has a quick ratio of 1.39, a current ratio of 2.44 and a debt-to-equity ratio of 0.62.

Allied Motion Technologies (NASDAQ:AMOT) last issued its quarterly earnings results on Wednesday, October 31st. The technology company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.16. The company had revenue of $80.09 million during the quarter. Allied Motion Technologies had a return on equity of 17.59% and a net margin of 4.43%. As a group, research analysts anticipate that Allied Motion Technologies will post 1.86 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Thursday, November 15th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.25%. Allied Motion Technologies’s dividend payout ratio (DPR) is 9.84%.

Large investors have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Allied Motion Technologies during the second quarter worth $206,000. Peapack Gladstone Financial Corp bought a new stake in shares of Allied Motion Technologies during the second quarter worth $215,000. Comerica Bank bought a new stake in shares of Allied Motion Technologies during the third quarter worth $221,000. Ramsey Quantitative Systems lifted its position in shares of Allied Motion Technologies by 101.5% during the second quarter. Ramsey Quantitative Systems now owns 4,957 shares of the technology company’s stock worth $237,000 after purchasing an additional 2,497 shares during the last quarter. Finally, Globeflex Capital L P bought a new stake in shares of Allied Motion Technologies during the third quarter worth $256,000. Institutional investors and hedge funds own 47.82% 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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