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

Bank of America cut 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 brokerage currently has $71.00 price target on the electronics maker’s stock, down from their previous price target of $80.00.

A number of other analysts also recently issued reports on APH. Citigroup lifted their price target on shares of Amphenol from $67.50 to $80.00 and gave the company a buy rating in a report on Tuesday, May 28th. Evercore ISI restated an outperform rating on shares of Amphenol in a report on Thursday, June 13th. TD Cowen lifted their price objective on Amphenol from $45.00 to $57.50 and gave the stock a hold rating in a research note on Thursday, June 6th. Truist Financial increased their target price on Amphenol from $74.50 to $76.00 and gave the company a buy rating in a research report on Thursday, July 25th. Finally, Robert W. Baird reduced their price target on shares of Amphenol from $72.00 to $70.00 and set an outperform rating on the stock in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $65.04.

Amphenol Price Performance

Shares of Amphenol stock opened at $61.31 on Wednesday. The company has a market capitalization of $73.65 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 3.03 and a beta of 1.25. 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 stock’s 50-day simple moving average is $65.44 and its 200-day simple moving average is $62.28. Amphenol has a 52 week low of $39.34 and a 52 week high of $70.84.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.72 EPS. As a group, analysts expect that Amphenol will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.08%. Amphenol’s dividend payout ratio (DPR) is presently 40.49%.

Insider Transactions at Amphenol

In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $64.65, for a total value of $5,818,500.00. Following the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction dated 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 transaction, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,323,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lance E. D’amico sold 100,000 shares of Amphenol stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the sale, the vice president now directly owns 51,400 shares of the company’s stock, valued at approximately $3,373,382. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Amphenol

Hedge funds and other institutional investors have recently made changes to their positions in the company. Fisher Asset Management LLC purchased a new position in Amphenol during the 4th quarter valued at about $789,000. Merit Financial Group LLC raised its stake in Amphenol by 17.8% in the fourth quarter. Merit Financial Group LLC now owns 3,294 shares of the electronics maker’s stock worth $327,000 after buying an additional 497 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Amphenol by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,180,261 shares of the electronics maker’s stock worth $315,259,000 after buying an additional 73,662 shares during the period. EdgeRock Capital LLC bought a new stake in Amphenol during the 4th quarter valued at $42,000. Finally, National Pension Service increased its holdings in shares of Amphenol by 2.7% in the 4th quarter. National Pension Service now owns 1,306,165 shares of the electronics maker’s stock valued at $129,480,000 after acquiring an additional 34,255 shares during the period. Institutional investors own 97.01% of the company’s stock.

Amphenol Company Profile

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.