Truist Financial Raises Amphenol (NYSE:APH) Price Target to $136.00

Amphenol (NYSE:APH) had its target price hoisted by Truist Financial from $121.00 to $136.00 in a research note released on Thursday, Benzinga reports. The firm currently has a buy rating on the electronics maker’s stock.

APH has been the subject of several other research reports. Jefferies Financial Group started coverage on shares of Amphenol in a research report on Tuesday, April 9th. They issued a hold rating and a $125.00 target price for the company. Robert W. Baird increased their price target on Amphenol from $123.00 to $124.00 and gave the stock an outperform rating in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Amphenol from $125.00 to $130.00 and gave the company an overweight rating in a research note on Thursday. Evercore ISI boosted their target price on Amphenol from $125.00 to $130.00 and gave the stock an outperform rating in a report on Thursday. Finally, UBS Group lifted their price target on Amphenol from $135.00 to $138.00 and gave the company a buy rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $118.83.

Amphenol Stock Up 0.6 %

NYSE:APH traded up $0.71 on Thursday, reaching $119.72. The stock had a trading volume of 126,460 shares, compared to its average volume of 2,837,279. The company has a current ratio of 2.06, a quick ratio of 1.48 and a debt-to-equity ratio of 0.41. Amphenol has a 12-month low of $72.77 and a 12-month high of $119.94. The company has a 50-day moving average of $111.74 and a 200 day moving average of $99.44. The stock has a market cap of $72.02 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 3.10 and a beta of 1.30.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.10 billion. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. Amphenol’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.69 EPS. On average, research analysts predict that Amphenol will post 3.29 earnings per share for the current year.

Amphenol declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 24th that permits the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Amphenol Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend was Monday, March 18th. Amphenol’s dividend payout ratio is currently 26.91%.

Insider Buying and Selling at Amphenol

In related news, insider William J. Doherty sold 170,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.50, for a total transaction of $17,595,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amphenol news, insider William J. Doherty sold 170,000 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total value of $17,595,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter Straub sold 20,000 shares of the business’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The disclosure for this sale can be found here. Insiders sold 305,000 shares of company stock worth $31,846,050 over the last ninety days. Company insiders own 1.80% of the company’s stock.

Institutional Trading of Amphenol

Hedge funds have recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new position in shares of Amphenol in the fourth quarter valued at $3,589,000. West Coast Financial LLC lifted its holdings in Amphenol by 65.0% during the 4th quarter. West Coast Financial LLC now owns 128,911 shares of the electronics maker’s stock valued at $12,779,000 after purchasing an additional 50,778 shares during the last quarter. Cerity Partners LLC grew its stake in Amphenol by 63.4% during the fourth quarter. Cerity Partners LLC now owns 38,264 shares of the electronics maker’s stock worth $3,793,000 after buying an additional 14,843 shares during the last quarter. Compagnie Lombard Odier SCmA bought a new position in Amphenol in the 4th quarter valued at $2,875,000. Finally, Fortune Financial Advisors LLC acquired a new stake in shares of Amphenol in the fourth quarter valued at $1,071,000. 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.