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

Bank of America cut shares of Amphenol (NYSE:APH) from a buy rating to a neutral rating in a report published on Wednesday morning, Marketbeat reports. They currently have $71.00 price objective on the electronics maker’s stock, down from their prior price objective of $80.00.

Several other analysts have also recently weighed in on APH. Citigroup lifted their price objective on Amphenol from $67.50 to $80.00 and gave the company a buy rating in a research report on Tuesday, May 28th. UBS Group upped their price target on Amphenol from $69.00 to $80.00 and gave the stock a buy rating in a research note on Wednesday, July 10th. Seaport Res Ptn raised Amphenol to a strong-buy rating in a research report on Monday, May 20th. Stifel Nicolaus reaffirmed a hold rating on shares of Amphenol in a research report on Thursday, June 13th. Finally, Robert W. Baird lowered their price target on shares of Amphenol from $72.00 to $70.00 and set an outperform rating for the company in a research report on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Amphenol has an average rating of Moderate Buy and a consensus target price of $65.04.

Amphenol Price Performance

APH stock opened at $61.31 on Wednesday. The firm’s 50-day moving average price is $65.44 and its two-hundred day moving average price is $62.28. Amphenol has a 12-month low of $39.34 and a 12-month high of $70.84. The stock has a market capitalization of $73.65 billion, a price-to-earnings ratio of 37.61, a PEG ratio of 3.03 and a beta of 1.25. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the business earned $0.72 EPS. Amphenol’s revenue was up 18.2% compared to the same quarter last year. As a group, equities analysts predict 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 given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.08%. Amphenol’s dividend payout ratio (DPR) is presently 40.49%.

Insiders Place Their Bets

In other news, insider Luc Walter sold 170,000 shares of Amphenol stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.10, for a total value of $10,897,000.00. Following the completion of the sale, the insider now directly owns 447,790 shares in the company, valued at $28,703,339. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.65, for a total value of $5,818,500.00. Following the transaction, the vice president now directly owns 51,400 shares of the company’s stock, valued at $3,323,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luc Walter sold 170,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the sale, the insider now directly owns 447,790 shares of the company’s stock, valued at approximately $28,703,339. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. 1.80% of the stock is owned by insiders.

Institutional Trading of Amphenol

Several large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. grew its position in shares of Amphenol by 0.3% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 31,286 shares of the electronics maker’s stock valued at $3,609,000 after acquiring an additional 80 shares during the period. Atomi Financial Group Inc. grew its holdings in Amphenol by 1.7% during the first quarter. Atomi Financial Group Inc. now owns 4,720 shares of the electronics maker’s stock valued at $544,000 after purchasing an additional 81 shares during the period. Lindbrook Capital LLC increased its position in Amphenol by 2.0% in the first quarter. Lindbrook Capital LLC now owns 4,245 shares of the electronics maker’s stock worth $490,000 after buying an additional 85 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Amphenol by 1.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 6,076 shares of the electronics maker’s stock worth $701,000 after buying an additional 88 shares during the period. Finally, Nicolet Advisory Services LLC lifted its position in shares of Amphenol by 3.4% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,724 shares of the electronics maker’s stock valued at $313,000 after buying an additional 89 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

About Amphenol

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.