RBC Capital Markets Reiterates Top Pick Rating for Amphenol Corp. (APH)
Amphenol Corp. (NYSE:APH)‘s stock had its “top pick” rating reissued by investment analysts at RBC Capital Markets in a research note issued to investors on Tuesday. They presently have a $66.00 target price on the stock, up from their prior target price of $65.00. RBC Capital Markets’ price target suggests a potential upside of 1.69% from the company’s previous close.
APH has been the topic of a number of other research reports. Goldman Sachs Group Inc. raised shares of Amphenol Corp. from a “neutral” rating to a “buy” rating and increased their price target for the stock from $60.00 to $70.00 in a research note on Tuesday. Royal Bank Of Canada increased their price target on shares of Amphenol Corp. from $61.00 to $63.00 and gave the stock a “top pick” rating in a research note on Thursday, July 21st. Finally, Zacks Investment Research downgraded shares of Amphenol Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $68.11.
Amphenol Corp. (NYSE:APH) opened at 64.90 on Tuesday. The firm has a market cap of $20.04 billion, a P/E ratio of 26.70 and a beta of 1.16. Amphenol Corp. has a 52 week low of $44.50 and a 52 week high of $65.18. The company’s 50 day moving average is $61.54 and its 200-day moving average is $58.56.
Amphenol Corp. (NYSE:APH) last announced its earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. Amphenol Corp. had a net margin of 13.03% and a return on equity of 23.72%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business earned $0.58 earnings per share. Amphenol Corp.’s revenue was up 14.6% compared to the same quarter last year. Equities analysts expect that Amphenol Corp. will post $2.63 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 13th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.86%. Amphenol Corp.’s dividend payout ratio is presently 23.05%.
In other news, insider Richard Adam Norwitt sold 262,000 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $59.01, for a total value of $15,460,620.00. Following the transaction, the insider now owns 137,992 shares of the company’s stock, valued at approximately $8,142,907.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diana G. Reardon sold 240,000 shares of the firm’s stock in a transaction on Friday, August 26th. The shares were sold at an average price of $61.69, for a total transaction of $14,805,600.00. Following the completion of the transaction, the director now directly owns 240,000 shares in the company, valued at approximately $14,805,600. The disclosure for this sale can be found here. 2.92% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in Amphenol Corp. by 5.7% in the first quarter. Wellington Management Group LLP now owns 2,919,191 shares of the company’s stock valued at $168,788,000 after buying an additional 156,760 shares during the period. Moore Capital Management LP purchased a new stake in Amphenol Corp. during the first quarter valued at about $5,493,000. Independent Portfolio Consultants Inc. increased its stake in Amphenol Corp. by 11.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,070 shares of the company’s stock valued at $348,000 after buying an additional 630 shares during the period. Aviva PLC increased its stake in Amphenol Corp. by 1.4% in the first quarter. Aviva PLC now owns 157,811 shares of the company’s stock valued at $9,125,000 after buying an additional 2,136 shares during the period. Finally, Sterling Ridge Capital Management LP purchased a new stake in Amphenol Corp. during the first quarter valued at about $457,000. 96.81% of the stock is currently owned by institutional investors and hedge funds.
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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