Bank of America Raises Amphenol (NYSE:APH) Price Target to $75.00

Amphenol (NYSE:APH) had its target price upped by Bank of America from $72.00 to $75.00 in a report released on Wednesday morning, Benzinga reports. Bank of America currently has a buy rating on the electronics maker’s stock.

APH has been the subject of a number of other research reports. Truist Financial lifted their target price on shares of Amphenol from $68.00 to $74.50 and gave the company a buy rating in a research note on Friday, May 24th. Stifel Nicolaus reissued a hold rating on shares of Amphenol in a research note on Thursday, June 13th. JPMorgan Chase & Co. lifted their target price on shares of Amphenol from $62.50 to $65.00 and gave the company an overweight rating in a research note on Thursday, April 25th. Robert W. Baird lifted their target price on shares of Amphenol from $61.50 to $62.00 and gave the company an outperform rating in a research note on Thursday, April 25th. Finally, UBS Group lifted their price objective on shares of Amphenol from $67.50 to $69.00 and gave the company a buy rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amphenol presently has an average rating of Moderate Buy and a consensus target price of $64.58.

Amphenol Trading Up 0.5 %

Amphenol stock opened at $69.88 on Wednesday. The company has a 50 day moving average price of $66.99 and a 200 day moving average price of $58.34. Amphenol has a 52 week low of $39.34 and a 52 week high of $70.84. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.43 and a current ratio of 2.06. The firm has a market capitalization of $83.94 billion, a price-to-earnings ratio of 42.74, a P/E/G ratio of 3.27 and a beta of 1.25.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.10 billion. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. The company’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the business posted $0.35 EPS. Research analysts forecast that Amphenol will post 1.69 EPS for the current year.

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 10th. Investors of record on Tuesday, June 18th were issued a $0.22 dividend. The ex-dividend date was Tuesday, June 18th. This represents a $0.88 annualized dividend and a yield of 1.26%. Amphenol’s dividend payout ratio (DPR) is presently 26.91%.

Amphenol declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 24th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Luc Walter sold 230,000 shares of Amphenol stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $67.57, for a total value of $15,541,100.00. Following the transaction, the insider now owns 397,280 shares in the company, valued at approximately $26,844,209.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in APH. EP Wealth Advisors LLC increased its holdings in shares of Amphenol by 40.4% during the 3rd quarter. EP Wealth Advisors LLC now owns 7,769 shares of the electronics maker’s stock worth $653,000 after purchasing an additional 2,235 shares during the period. Banque Pictet & Cie SA increased its holdings in shares of Amphenol by 1.8% during the 3rd quarter. Banque Pictet & Cie SA now owns 18,691 shares of the electronics maker’s stock worth $1,570,000 after purchasing an additional 327 shares during the period. American Century Companies Inc. boosted its position in shares of Amphenol by 23.9% during the 3rd quarter. American Century Companies Inc. now owns 51,858 shares of the electronics maker’s stock valued at $4,356,000 after acquiring an additional 9,992 shares in the last quarter. Citigroup Inc. boosted its position in shares of Amphenol by 4.9% during the 3rd quarter. Citigroup Inc. now owns 551,044 shares of the electronics maker’s stock valued at $46,282,000 after acquiring an additional 25,975 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its position in shares of Amphenol by 12.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 2,502 shares of the electronics maker’s stock valued at $248,000 after acquiring an additional 285 shares in the last quarter. 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.