RBC Capital Markets Reiterates Top Pick Rating for Amphenol Corp. (APH)
Amphenol Corp. (NYSE:APH)‘s stock had its “top pick” rating reaffirmed by analysts at RBC Capital Markets in a report issued on Tuesday. They currently have a $66.00 price objective on the stock, up from their prior price objective of $65.00. RBC Capital Markets’ price objective points to a potential upside of 1.69% from the stock’s current price.
APH has been the subject of several other reports. Goldman Sachs Group Inc. raised shares of Amphenol Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $70.00 in a research report on Tuesday. Royal Bank Of Canada boosted their target price on shares of 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, Zacks Investment Research downgraded shares of Amphenol Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, June 21st. Five analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $68.11.
Amphenol Corp. (NYSE:APH) opened at 64.90 on Tuesday. The firm’s 50-day moving average is $61.54 and its 200 day moving average is $58.56. Amphenol Corp. has a one year low of $44.50 and a one year high of $65.18. The firm has a market capitalization of $20.04 billion, a price-to-earnings ratio of 26.70 and a beta of 1.16.
Amphenol Corp. (NYSE:APH) last posted its earnings results on Wednesday, July 20th. The company reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. Amphenol Corp. had a net margin of 13.03% and a return on equity of 23.72%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.58 earnings per share. Analysts forecast that Amphenol Corp. will post $2.63 EPS for the current fiscal year.
The business also recently announced 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 0.86%. Amphenol Corp.’s payout ratio is currently 23.05%.
In related news, CFO Craig A. Lampo sold 23,000 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $62.08, for a total transaction of $1,427,840.00. Following the completion of the transaction, the chief financial officer now directly owns 43,000 shares in the company, valued at approximately $2,669,440. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Richard Adam Norwitt sold 262,000 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $59.01, for a total transaction of $15,460,620.00. Following the transaction, the insider now owns 137,992 shares of the company’s stock, 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.
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Amphenol Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,415,320 shares of the company’s stock valued at $1,571,720,000 after buying an additional 480,602 shares during the last quarter. Capital World Investors boosted its position in Amphenol Corp. by 2.9% in the second quarter. Capital World Investors now owns 21,581,295 shares of the company’s stock valued at $1,237,256,000 after buying an additional 606,707 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Amphenol Corp. by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 18,560,744 shares of the company’s stock valued at $1,064,087,000 after buying an additional 251,010 shares during the last quarter. Alliancebernstein L.P. boosted its position in Amphenol Corp. by 4.7% in the second quarter. Alliancebernstein L.P. now owns 9,513,942 shares of the company’s stock valued at $545,435,000 after buying an additional 431,308 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Amphenol Corp. by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,411,195 shares of the company’s stock valued at $539,544,000 after buying an additional 235,138 shares during the last quarter. Hedge funds and other institutional investors own 96.81% of the company’s stock.
About Amphenol Corp.
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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