Fintel reports that on January 5, 2024, Citigroup initiated coverage of Amphenol (NYSE:APH) with a Buy recommendation.
Analyst Price Forecast Suggests 3.57% Upside
As of December 15, 2023, the average one-year price target for Amphenol is 98.01. The forecasts range from a low of 75.75 to a high of $114.45. The average price target represents an increase of 3.57% from its latest reported closing price of 94.63.
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The projected annual revenue for Amphenol is 14,000MM, an increase of 12.30%. The projected annual non-GAAP EPS is 3.44.
Amphenol Declares $0.22 Dividend
On October 24, 2023 the company declared a regular quarterly dividend of $0.22 per share ($0.88 annualized). Shareholders of record as of December 19, 2023 will receive the payment on January 10, 2024. Previously, the company paid $0.21 per share.
At the current share price of $94.63 / share, the stock's dividend yield is 0.93%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.00%, the lowest has been 0.73%, and the highest has been 1.46%. The standard deviation of yields is 0.12 (n=233).
The current dividend yield is 0.60 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.52%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1883 funds or institutions reporting positions in Amphenol. This is an increase of 37 owner(s) or 2.00% in the last quarter. Average portfolio weight of all funds dedicated to APH is 0.44%, an increase of 2.99%. Total shares owned by institutions increased in the last three months by 0.76% to 642,751K shares. 
The put/call ratio of APH is 0.83, indicating a bullish outlook.
What are Other Shareholders Doing?
Bank of New York Mellon holds 21,264K shares representing 3.55% ownership of the company. In it's prior filing, the firm reported owning 22,245K shares, representing a decrease of 4.61%. The firm decreased its portfolio allocation in APH by 89.00% over the last quarter.
FCNTX - Fidelity Contrafund holds 21,197K shares representing 3.54% ownership of the company. In it's prior filing, the firm reported owning 21,215K shares, representing a decrease of 0.09%. The firm increased its portfolio allocation in APH by 0.18% over the last quarter.
Price T Rowe Associates holds 20,904K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 19,141K shares, representing an increase of 8.43%. The firm increased its portfolio allocation in APH by 13.55% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 18,574K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 18,562K shares, representing an increase of 0.07%. The firm increased its portfolio allocation in APH by 2.69% over the last quarter.
Jpmorgan Chase holds 15,280K shares representing 2.55% ownership of the company. In it's prior filing, the firm reported owning 14,627K shares, representing an increase of 4.28%. The firm decreased its portfolio allocation in APH by 86.55% over the last quarter.
Amphenol Background Information
(This description is provided by the company.)
Amphenol Corporation is one of the world's largest designers, manufacturers and marketers of electrical, electronic and fiber optic connectors and interconnect systems, antennas, sensors and sensor-based products and coaxial and high-speed specialty cable. Amphenol designs, manufactures and assembles its products at facilities in the Americas, Europe, Asia, Australia and Africa and sells its products through its own global sales force, independent representatives and a global network of electronics distributors. Amphenol has a diversified presence as a leader in high-growth areas of the interconnect market including: Automotive, Broadband Communications, Commercial Aerospace, Industrial, Information Technology and Data Communications, Military, Mobile Devices and Mobile Networks.
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