Amphenol (NYSE:APH) Hits New 1-Year High Following Better-Than-Expected Earnings

Amphenol Co. (NYSE:APH) hit a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $76.30 and last traded at $74.65, with a volume of 364197 shares changing hands. The stock had previously closed at $72.72.

The electronics maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4,051,810 billion. During the same period in the prior year, the firm posted $0.82 earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis.

Amphenol Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend was Tuesday, December 17th. Amphenol’s payout ratio is currently 37.93%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on APH. Truist Financial raised their price objective on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird lifted their price target on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Evercore ISI boosted their price target on shares of Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their target price on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Bank of America raised their price target on shares of Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amphenol has an average rating of “Moderate Buy” and an average price target of $69.79.

Insider Transactions at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $133,136,890.88. This represents a 31.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David M. Silverman sold 180,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total transaction of $12,391,200.00. Following the completion of the transaction, the vice president now directly owns 14,000 shares of the company’s stock, valued at approximately $963,760. The trade was a 92.78 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is currently owned by insiders.

Institutional Trading of Amphenol

Several hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC increased its position in shares of Amphenol by 13.9% in the 3rd quarter. Fortitude Family Office LLC now owns 1,296 shares of the electronics maker’s stock valued at $84,000 after purchasing an additional 158 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Amphenol by 50.0% in the third quarter. Brown Brothers Harriman & Co. now owns 498 shares of the electronics maker’s stock valued at $32,000 after buying an additional 166 shares during the last quarter. Fragasso Financial Advisors Inc raised its stake in Amphenol by 4.7% in the fourth quarter. Fragasso Financial Advisors Inc now owns 3,824 shares of the electronics maker’s stock valued at $266,000 after buying an additional 171 shares in the last quarter. AlphaMark Advisors LLC lifted its holdings in Amphenol by 0.5% during the 4th quarter. AlphaMark Advisors LLC now owns 34,209 shares of the electronics maker’s stock worth $2,376,000 after buying an additional 180 shares during the last quarter. Finally, Prestige Wealth Management Group LLC boosted its position in shares of Amphenol by 7.4% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 2,751 shares of the electronics maker’s stock worth $180,000 after acquiring an additional 189 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Amphenol Trading Up 4.2 %

The business has a fifty day moving average price of $71.75 and a 200 day moving average price of $67.79. The firm has a market cap of $91.33 billion, a PE ratio of 43.54, a P/E/G ratio of 1.89 and a beta of 1.24. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53.

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.