Cowen and Company restated their outperform rating on shares of Amphenol Corporation (NYSE:APH) in a research note issued to investors on Tuesday morning. Cowen and Company currently has a $95.00 price objective on the electronics maker’s stock, up from their prior price objective of $85.00.
Other analysts also recently issued research reports about the company. BidaskClub upgraded Amphenol Corporation from a hold rating to a buy rating in a report on Wednesday, July 12th. Zacks Investment Research raised Amphenol Corporation from a hold rating to a buy rating and set a $89.00 target price on the stock in a research note on Thursday, August 17th. Bank of America Corporation raised Amphenol Corporation from a neutral rating to a buy rating in a research note on Friday, September 29th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $95.00 target price (up previously from $80.00) on shares of Amphenol Corporation in a research note on Thursday, October 5th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $83.50.
Amphenol Corporation (NYSE:APH) last posted its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.09. The firm had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.62 billion. Amphenol Corporation had a return on equity of 24.98% and a net margin of 14.37%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS.
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The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 11th. Shareholders of record on Monday, September 18th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.87%. The ex-dividend date was Friday, September 15th. This is a boost from Amphenol Corporation’s previous quarterly dividend of $0.16. Amphenol Corporation’s payout ratio is 25.59%.
In related news, CEO Richard Adam Norwitt sold 200,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $77.95, for a total value of $15,590,000.00. Following the completion of the sale, the chief executive officer now owns 293,992 shares of the company’s stock, valued at approximately $22,916,676.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Craig A. Lampo sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $80.98, for a total value of $1,214,700.00. Following the completion of the sale, the chief financial officer now directly owns 40,000 shares of the company’s stock, valued at approximately $3,239,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 433,200 shares of company stock worth $33,886,886. Company insiders own 2.51% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Amphenol Corporation by 2.6% in the 2nd quarter. Vanguard Group Inc. now owns 30,560,224 shares of the electronics maker’s stock valued at $2,255,957,000 after buying an additional 765,862 shares in the last quarter. Capital World Investors grew its stake in shares of Amphenol Corporation by 0.9% in the 2nd quarter. Capital World Investors now owns 26,040,751 shares of the electronics maker’s stock valued at $1,922,328,000 after buying an additional 236,214 shares in the last quarter. BlackRock Inc. grew its stake in shares of Amphenol Corporation by 2,540.0% in the 1st quarter. BlackRock Inc. now owns 19,061,201 shares of the electronics maker’s stock valued at $1,356,586,000 after buying an additional 18,339,185 shares in the last quarter. State Street Corp grew its stake in shares of Amphenol Corporation by 1.7% in the 1st quarter. State Street Corp now owns 12,171,868 shares of the electronics maker’s stock valued at $866,273,000 after buying an additional 203,486 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Amphenol Corporation by 1,662.5% in the 2nd quarter. Janus Henderson Group PLC now owns 10,597,526 shares of the electronics maker’s stock valued at $782,311,000 after buying an additional 9,996,239 shares in the last quarter. 96.88% of the stock is owned by institutional investors and hedge funds.
Amphenol Corporation Company Profile
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, which include Interconnect Products and Assemblies, and Cable Products and Solutions.
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