Amphenol (NYSE:APH) Price Target Raised to $85.00

Amphenol (NYSE:APH) had its target price raised by Bank of America from $75.00 to $85.00 in a research report report published on Thursday,Benzinga reports. Bank of America currently has a neutral rating on the electronics maker’s stock.

Other research analysts have also recently issued research reports about the stock. Truist Financial upped their target price on shares of Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. TD Cowen raised their price objective on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Evercore ISI boosted their target price on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on Amphenol from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Robert W. Baird boosted their price objective on Amphenol from $85.00 to $89.00 and gave the company an “outperform” rating in a research note on Thursday. 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, Amphenol currently has an average rating of “Moderate Buy” and an average target price of $80.68.

Amphenol Trading Down 1.9 %

Shares of NYSE:APH opened at $77.10 on Thursday. Amphenol has a 52 week low of $49.38 and a 52 week high of $79.39. The company’s 50 day moving average is $72.12 and its two-hundred day moving average is $68.00. The company has a market cap of $92.95 billion, a PE ratio of 40.26, a P/E/G ratio of 2.12 and a beta of 1.24. The company has a current ratio of 2.37, a quick ratio of 1.33 and a debt-to-equity ratio of 0.66.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. The company had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4,051,810 billion. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. During the same period last year, the firm earned $0.82 earnings per share. Amphenol’s quarterly revenue was up 29.8% on a year-over-year basis. Equities analysts predict that Amphenol will post 2.17 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Tuesday, December 17th. Amphenol’s dividend payout ratio (DPR) is 34.55%.

Insiders Place Their Bets

In other news, CEO Richard Adam Norwitt sold 900,672 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of Amphenol stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the transaction, the chief financial officer now owns 218,116 shares of the company’s stock, valued at approximately $14,997,656.16. The trade was a 40.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is owned by company insiders.

Institutional Trading of Amphenol

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in APH. Legal & General Group Plc boosted its stake in shares of Amphenol by 116.6% during the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock worth $662,458,000 after purchasing an additional 5,293,292 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Amphenol by 89.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,303,215 shares of the electronics maker’s stock worth $280,397,000 after acquiring an additional 2,032,402 shares during the last quarter. Two Sigma Advisers LP acquired a new position in Amphenol in the 3rd quarter valued at $113,828,000. State Street Corp lifted its stake in shares of Amphenol by 3.0% during the 3rd quarter. State Street Corp now owns 53,534,216 shares of the electronics maker’s stock worth $3,496,777,000 after purchasing an additional 1,537,880 shares during the period. Finally, APG Asset Management N.V. grew its position in shares of Amphenol by 136.5% in the second quarter. APG Asset Management N.V. now owns 2,564,548 shares of the electronics maker’s stock valued at $161,207,000 after purchasing an additional 1,480,331 shares during the period. Hedge funds and other institutional investors 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.