Amphenol (NYSE:APH) Downgraded to Neutral at Bank of America

Bank of America downgraded shares of Amphenol (NYSE:APH) from a buy rating to a neutral rating in a research report released on Wednesday morning, MarketBeat reports. They currently have $71.00 price target on the electronics maker’s stock, down from their previous price target of $80.00.

A number of other research firms also recently weighed in on APH. Citigroup lifted their price target on shares of Amphenol from $67.50 to $80.00 and gave the company a buy rating in a research report on Tuesday, May 28th. TD Cowen lifted their price target on shares of Amphenol from $45.00 to $57.50 and gave the company a hold rating in a research report on Thursday, June 6th. Vertical Research began coverage on shares of Amphenol in a research report on Tuesday, July 23rd. They set a hold rating and a $65.00 price objective for the company. Seaport Res Ptn upgraded shares of Amphenol to a strong-buy rating in a research report on Monday, May 20th. Finally, UBS Group boosted their price objective on shares of Amphenol from $69.00 to $80.00 and gave the company a buy rating in a research report on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Amphenol presently has an average rating of Moderate Buy and an average target price of $65.04.

Amphenol Trading Down 3.2 %

Shares of NYSE:APH opened at $59.85 on Wednesday. Amphenol has a 12-month low of $39.34 and a 12-month high of $70.84. The stock has a market cap of $71.89 billion, a PE ratio of 36.72, a P/E/G ratio of 3.03 and a beta of 1.25. The business has a 50 day moving average of $65.18 and a 200-day moving average of $62.40. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the company posted $0.72 earnings per share. The business’s revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts forecast that Amphenol will post 1.76 earnings per share for the current year.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.10%. Amphenol’s dividend payout ratio is 40.49%.

Insider Buying and Selling

In related news, VP Lance E. D’amico sold 90,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total value of $5,818,500.00. Following the sale, the vice president now owns 51,400 shares of the company’s stock, valued at $3,323,010. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Amphenol news, VP Lance E. D’amico sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the sale, the vice president now owns 51,400 shares of the company’s stock, valued at $3,373,382. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the sale, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,323,010. The disclosure for this sale can be found here. Insiders have sold a total of 1,516,000 shares of company stock valued at $98,236,640 over the last 90 days. 1.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Amphenol

A number of institutional investors and hedge funds have recently made changes to their positions in APH. Bank of New York Mellon Corp boosted its position in shares of Amphenol by 92.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after purchasing an additional 17,552,921 shares in the last quarter. Norges Bank bought a new position in shares of Amphenol during the 4th quarter worth about $1,078,167,000. Massachusetts Financial Services Co. MA boosted its position in shares of Amphenol by 69.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock worth $1,564,711,000 after purchasing an additional 9,487,387 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Amphenol by 39.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock worth $2,899,059,000 after purchasing an additional 8,340,759 shares in the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in shares of Amphenol by 88.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after purchasing an additional 7,275,279 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Amphenol Company Profile

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.