Citigroup Issues Positive Forecast for Amphenol (NYSE:APH) Stock Price

Amphenol (NYSE:APH) had its target price hoisted by Citigroup from $81.00 to $82.00 in a research note issued to investors on Friday,Benzinga reports. Citigroup currently has a buy rating on the electronics maker’s stock.

APH has been the topic of several other research reports. Truist Financial increased their target price on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Bank of America raised their target price on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Robert W. Baird raised their price objective on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen increased their target price on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Evercore ISI lifted their price target on shares of Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.79.

Amphenol Price Performance

APH stock opened at $69.44 on Friday. The business’s 50-day moving average is $71.91 and its two-hundred day moving average is $67.73. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33. The firm has a market capitalization of $83.71 billion, a P/E ratio of 39.91, a P/E/G ratio of 2.01 and a beta of 1.24. Amphenol has a 1 year low of $47.76 and a 1 year high of $75.78.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter last year, the company earned $0.39 earnings per share. The firm’s revenue was up 26.3% compared to the same quarter last year. Analysts anticipate that Amphenol will post 1.84 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Tuesday, December 17th. Amphenol’s dividend payout ratio is currently 37.93%.

Insider Buying and Selling at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total value of $61,975,240.32. Following the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. The trade was a 31.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the completion of the sale, the chief financial officer now owns 218,116 shares of the company’s stock, valued at $14,997,656.16. This trade represents a 40.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,842,672 shares of company stock valued at $128,858,080 in the last ninety days. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Amphenol

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its holdings in Amphenol by 116.6% during the second quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock worth $662,458,000 after acquiring an additional 5,293,292 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Amphenol by 89.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,303,215 shares of the electronics maker’s stock worth $280,397,000 after purchasing an additional 2,032,402 shares during the period. Two Sigma Advisers LP acquired a new stake in shares of Amphenol in the third quarter valued at about $113,828,000. State Street Corp boosted its holdings in Amphenol by 3.0% during the third quarter. State Street Corp now owns 53,534,216 shares of the electronics maker’s stock worth $3,496,777,000 after buying an additional 1,537,880 shares in the last quarter. Finally, APG Asset Management N.V. grew its position in Amphenol by 136.5% during the second quarter. APG Asset Management N.V. now owns 2,564,548 shares of the electronics maker’s stock worth $161,207,000 after buying an additional 1,480,331 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.