Amphenol (NYSE:APH) Downgraded to Neutral at Bank of America

Bank of America downgraded shares of Amphenol (NYSE:APH) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has $71.00 price target on the electronics maker’s stock, down from their previous price target of $80.00.

Several other research firms have also commented on APH. Truist Financial increased their price objective on shares of Amphenol from $74.50 to $76.00 and gave the company a buy rating in a research note on Thursday, July 25th. UBS Group increased their price objective on shares of Amphenol from $69.00 to $80.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Evercore ISI reiterated an outperform rating on shares of Amphenol in a research note on Thursday, June 13th. TD Cowen increased their price objective on shares of Amphenol from $45.00 to $57.50 and gave the company a hold rating in a research note on Thursday, June 6th. Finally, Stifel Nicolaus reissued a hold rating on shares of Amphenol in a research report on Thursday, June 13th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Amphenol currently has a consensus rating of Moderate Buy and an average price target of $65.04.

Amphenol Trading Down 3.2 %

APH opened at $59.85 on Wednesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32. Amphenol has a fifty-two week low of $39.34 and a fifty-two week high of $70.84. The firm has a market capitalization of $71.89 billion, a PE ratio of 36.72, a P/E/G ratio of 3.03 and a beta of 1.25. The company’s 50-day moving average is $65.18 and its 200 day moving average is $62.40.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates 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 in the prior year, the business posted $0.72 EPS. As a group, research analysts predict that Amphenol will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is presently 40.49%.

Insider Buying and Selling

In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total value of $5,818,500.00. Following the completion of the transaction, the vice president now directly owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Luc Walter sold 170,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the sale, the insider now owns 447,790 shares in the company, valued at approximately $28,703,339. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Lance E. D’amico sold 90,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at approximately $3,323,010. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Amphenol

A number of large investors have recently added to or reduced their stakes in APH. Bank of New York Mellon Corp raised its position in Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after purchasing an additional 17,552,921 shares during the period. Norges Bank purchased a new position in Amphenol in the 4th quarter worth $1,078,167,000. Massachusetts Financial Services Co. MA raised its position in Amphenol by 69.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock worth $1,564,711,000 after purchasing an additional 9,487,387 shares during the period. Price T Rowe Associates Inc. MD raised its position in Amphenol by 39.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock worth $2,899,059,000 after purchasing an additional 8,340,759 shares during the period. Finally, Mawer Investment Management Ltd. raised its position in Amphenol by 88.9% in the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after purchasing an additional 7,275,279 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.