Amphenol (NYSE:APH) PT Lowered to $70.00

Amphenol (NYSE:APH) had its target price decreased by Bank of America from $71.00 to $70.00 in a research note published on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the electronics maker’s stock.

APH has been the subject of a number of other reports. Robert W. Baird dropped their target price on shares of Amphenol from $72.00 to $70.00 and set an outperform rating for the company in a report on Thursday, July 25th. Evercore ISI reaffirmed an outperform rating on shares of Amphenol in a report on Thursday, June 13th. UBS Group increased their target price on shares of Amphenol from $69.00 to $80.00 and gave the company a buy rating in a report on Wednesday, July 10th. Truist Financial raised their price objective on shares of Amphenol from $74.50 to $76.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Finally, Vertical Research assumed coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They set a hold rating and a $65.00 price objective for the company. Five analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $66.50.

Amphenol Price Performance

Shares of NYSE:APH opened at $65.56 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The company has a market cap of $78.75 billion, a P/E ratio of 40.22, a PEG ratio of 2.56 and a beta of 1.24. Amphenol has a 52 week low of $39.34 and a 52 week high of $70.84. The company has a 50-day moving average price of $64.13 and a 200 day moving average price of $63.93.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.72 earnings per share. Research analysts predict that Amphenol will post 1.76 earnings per share for the current year.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th were given a dividend of $0.165 per share. The ex-dividend date was Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a yield of 1.01%. Amphenol’s dividend payout ratio (DPR) is currently 40.49%.

Insider Buying and Selling

In related news, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the sale, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $124,875,089.92. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Amphenol news, VP Lance E. D’amico sold 100,000 shares of Amphenol stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value of $6,563,000.00. Following the transaction, the vice president now owns 51,400 shares in the company, valued at $3,373,382. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at $124,875,089.92. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amphenol

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Grove Bank & Trust lifted its holdings in shares of Amphenol by 13.3% during the 3rd quarter. Grove Bank & Trust now owns 2,386 shares of the electronics maker’s stock valued at $155,000 after acquiring an additional 280 shares in the last quarter. Elk River Wealth Management LLC increased its stake in Amphenol by 2.0% during the 3rd quarter. Elk River Wealth Management LLC now owns 112,375 shares of the electronics maker’s stock worth $7,341,000 after buying an additional 2,171 shares during the period. Empirical Asset Management LLC increased its stake in Amphenol by 45.9% during the 3rd quarter. Empirical Asset Management LLC now owns 6,808 shares of the electronics maker’s stock worth $444,000 after buying an additional 2,142 shares during the period. ORG Wealth Partners LLC purchased a new stake in Amphenol during the 3rd quarter worth $81,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Amphenol by 9.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 12,053 shares of the electronics maker’s stock worth $785,000 after buying an additional 1,077 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

About Amphenol

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.