Amphenol (APH) Raised to Buy at Goldman Sachs Group
Goldman Sachs Group upgraded shares of Amphenol (NYSE:APH) from a neutral rating to a buy rating in a report issued on Tuesday, MarketBeat reports. They currently have $108.00 price target on the electronics maker’s stock.
APH has been the subject of several other reports. Morgan Stanley lowered their price objective on shares of Amphenol from $102.00 to $100.00 and set an overweight rating for the company in a research report on Wednesday, October 3rd. Zacks Investment Research downgraded shares of Amphenol from a buy rating to a hold rating in a research report on Monday, July 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of Amphenol from $90.00 to $92.00 and gave the company a hold rating in a research report on Thursday, July 26th. Six investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $98.50.
Shares of APH opened at $85.03 on Tuesday. Amphenol has a one year low of $80.42 and a one year high of $97.56. The company has a market cap of $28.24 billion, a price-to-earnings ratio of 27.49, a PEG ratio of 2.20 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.72 and a quick ratio of 1.22.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 10th. Shareholders of record on Monday, September 17th were given a dividend of $0.23 per share. The ex-dividend date was Friday, September 14th. This represents a $0.92 annualized dividend and a yield of 1.08%. Amphenol’s dividend payout ratio is currently 29.49%.
In other Amphenol news, CEO Richard Adam Norwitt sold 165,000 shares of the business’s stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $93.32, for a total transaction of $15,397,800.00. Following the sale, the chief executive officer now owns 377,492 shares of the company’s stock, valued at $35,227,553.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Gu sold 2,000 shares of the business’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $87.00, for a total transaction of $174,000.00. Following the sale, the vice president now directly owns 3,000 shares in the company, valued at approximately $261,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 647,713 shares of company stock valued at $61,196,943. Company insiders own 2.34% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of APH. Summit Trail Advisors LLC grew its stake in shares of Amphenol by 8,640.8% during the first quarter. Summit Trail Advisors LLC now owns 3,433,551 shares of the electronics maker’s stock worth $3,434,000 after buying an additional 3,394,269 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of Amphenol by 1,165.1% during the second quarter. Voya Investment Management LLC now owns 2,659,699 shares of the electronics maker’s stock worth $231,792,000 after buying an additional 2,449,464 shares during the last quarter. FMR LLC grew its stake in shares of Amphenol by 1.7% during the second quarter. FMR LLC now owns 38,544,742 shares of the electronics maker’s stock worth $3,359,175,000 after buying an additional 660,569 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Amphenol during the second quarter worth $33,726,000. Finally, Select Equity Group L.P. grew its stake in shares of Amphenol by 12.8% during the second quarter. Select Equity Group L.P. now owns 2,948,900 shares of the electronics maker’s stock worth $256,997,000 after buying an additional 335,554 shares during the last quarter. 94.72% of the stock is currently owned by hedge funds and other institutional investors.
Amphenol Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, bus bars, and distribution systems; and other connectors.
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