Amphenol Corp. (NYSE:APH) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.

According to Zacks, “The diversification in end markets, with a consistent focus on technology innovation and customer support, enable Amphenol to post strong results. A balanced organic and inorganic growth model, a lean and flexible cost structure, and an agile and entrepreneurial management team add to its strengths. With strong second-quarter 2016 results, Amphenol offered a bullish guidance for 2016 on the back of accretive acquisitions and solid demand. The company has a positive earnings history in the trailing four quarters. Estimates have also remained steady in the last 30 days ahead of the third-quarter results. However, increasing cost of raw materials, cut-throat competition and foreign currency risks remain headwinds in a challenging macroeconomic environment. Huge operating costs through sustained R&D efforts often impact its return on investments. In addition, continued acquisition binge is also expected to be a drag on operating results.”

APH has been the subject of a number of other research reports. RBC Capital Markets lifted their price objective on Amphenol Corp. from $63.00 to $65.00 and gave the company a “top pick” rating in a research report on Friday, August 26th. Royal Bank Of Canada boosted their price target on Amphenol Corp. from $61.00 to $63.00 and gave the stock a “top pick” rating in a research report on Thursday, July 21st. Finally, Goldman Sachs Group Inc. raised Amphenol Corp. from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $70.00 in a research report on Tuesday. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $68.11.

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Shares of Amphenol Corp. (NYSE:APH) traded up 0.72% on Tuesday, hitting $64.22. The stock had a trading volume of 2,175,272 shares. The stock has a market cap of $19.83 billion, a P/E ratio of 26.42 and a beta of 1.16. Amphenol Corp. has a 1-year low of $44.50 and a 1-year high of $65.18. The firm’s 50-day moving average is $61.23 and its 200 day moving average is $58.45.

Amphenol Corp. (NYSE:APH) last released its quarterly earnings data on Wednesday, July 20th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The firm earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Amphenol Corp. had a return on equity of 23.72% and a net margin of 13.03%. The business’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.58 earnings per share. Equities analysts forecast that Amphenol Corp. will post $2.63 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Tuesday, September 13th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 0.88%. Amphenol Corp.’s dividend payout ratio is 23.05%.

In other news, VP Patrick Gillard sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $59.06, for a total value of $1,771,800.00. Following the sale, the vice president now directly owns 6,400 shares in the company, valued at approximately $377,984. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Richard Adam Norwitt sold 262,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $59.01, for a total value of $15,460,620.00. Following the completion of the sale, the insider now owns 137,992 shares in the company, valued at $8,142,907.92. The disclosure for this sale can be found here. Corporate insiders own 2.92% of the company’s stock.

Several large investors have recently added to or reduced their stakes in APH. NN Investment Partners Holdings N.V. bought a new stake in Amphenol Corp. during the first quarter valued at $103,000. BlueMountain Capital Management LLC bought a new stake in Amphenol Corp. during the first quarter valued at $139,000. Van ECK Associates Corp raised its stake in Amphenol Corp. by 30.0% in the second quarter. Van ECK Associates Corp now owns 2,738 shares of the company’s stock valued at $157,000 after buying an additional 632 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in Amphenol Corp. during the second quarter valued at $181,000. Finally, Quadrant Capital Group LLC raised its stake in Amphenol Corp. by 3.2% in the second quarter. Quadrant Capital Group LLC now owns 3,215 shares of the company’s stock valued at $181,000 after buying an additional 99 shares in the last quarter. Institutional investors own 96.85% of the company’s stock.

Amphenol Corp. Company Profile

Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and coaxial and specialty cable. The Company operates through two segments: Interconnect Products and Assemblies, and Cable Products and Solutions.

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