Amphenol Corp. (NYSE:APH) shares gapped up prior to trading on Wednesday following a better than expected earnings announcement. The stock had previously closed at $62.85, but opened at $63.21. Amphenol Corp. shares last traded at $64.33, with a volume of 1,246,386 shares trading hands.
The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.05. Amphenol Corp. had a net margin of 13.03% and a return on equity of 23.72%. The firm earned $1.64 billion during the quarter, compared to analyst estimates of $1.58 billion. During the same quarter in the previous year, the business earned $0.65 EPS. The business’s quarterly revenue was up 12.1% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Shareholders of record on Tuesday, December 13th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.01%. This is a positive change from Amphenol Corp.’s previous quarterly dividend of $0.14. Amphenol Corp.’s payout ratio is currently 23.05%.
A number of analysts have commented on the stock. Zacks Investment Research lowered shares of Amphenol Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. RBC Capital Markets reaffirmed a “top pick” rating and set a $66.00 target price (up previously from $65.00) on shares of Amphenol Corp. in a report on Tuesday, September 20th. Goldman Sachs Group Inc. raised shares of Amphenol Corp. from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $60.00 to $70.00 in a report on Tuesday, September 20th. Finally, Royal Bank Of Canada boosted their price target on shares of Amphenol Corp. from $61.00 to $63.00 and gave the company a “top pick” rating in a report on Thursday, July 21st. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $68.11.
In related news, insider Richard Adam Norwitt sold 262,000 shares of the business’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 sale, the insider now directly owns 137,992 shares of the company’s stock, valued at approximately $8,142,907.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Patrick Gillard sold 30,000 shares of the business’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $59.06, for a total transaction of $1,771,800.00. Following the completion of the sale, the vice president now directly owns 6,400 shares in the company, valued at $377,984. The disclosure for this sale can be found here. 2.92% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Amphenol Corp. by 1.8% in the second quarter. Vanguard Group Inc. now owns 27,415,320 shares of the company’s stock valued at $1,571,720,000 after buying an additional 480,602 shares during the period. Capital World Investors boosted its stake in shares of Amphenol Corp. by 2.9% in the second quarter. Capital World Investors now owns 21,581,295 shares of the company’s stock valued at $1,237,256,000 after buying an additional 606,707 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Amphenol Corp. by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 18,560,744 shares of the company’s stock valued at $1,064,087,000 after buying an additional 251,010 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Amphenol Corp. by 4.7% in the second quarter. Alliancebernstein L.P. now owns 9,513,942 shares of the company’s stock valued at $545,435,000 after buying an additional 431,308 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Amphenol Corp. by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 9,411,195 shares of the company’s stock valued at $539,544,000 after buying an additional 235,138 shares during the period. 96.78% of the stock is currently owned by hedge funds and other institutional investors.
The company has a 50 day moving average of $63.63 and a 200 day moving average of $59.59. The firm has a market cap of $20.06 billion, a PE ratio of 26.73 and a beta of 1.07.
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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