Port Capital LLC raised its holdings in shares of Amphenol Co. (NYSE:APH) by 33.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 79,802 shares of the electronics maker’s stock after acquiring an additional 20,164 shares during the quarter. Port Capital LLC’s holdings in Amphenol were worth $6,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Xact Kapitalforvaltning AB boosted its stake in shares of Amphenol by 10.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 89,545 shares of the electronics maker’s stock worth $7,804,000 after acquiring an additional 8,360 shares during the last quarter. State of Alaska Department of Revenue lifted its stake in shares of Amphenol by 16.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 53,361 shares of the electronics maker’s stock valued at $4,649,000 after buying an additional 7,390 shares in the last quarter. IFM Investors Pty Ltd lifted its stake in shares of Amphenol by 41.2% during the 2nd quarter. IFM Investors Pty Ltd now owns 13,380 shares of the electronics maker’s stock valued at $1,166,000 after buying an additional 3,904 shares in the last quarter. DnB Asset Management AS lifted its stake in shares of Amphenol by 8.7% during the 2nd quarter. DnB Asset Management AS now owns 53,938 shares of the electronics maker’s stock valued at $4,701,000 after buying an additional 4,300 shares in the last quarter. Finally, Dorsey Wright & Associates lifted its stake in shares of Amphenol by 4.9% during the 2nd quarter. Dorsey Wright & Associates now owns 65,521 shares of the electronics maker’s stock valued at $5,710,000 after buying an additional 3,054 shares in the last quarter. Institutional investors and hedge funds own 95.06% of the company’s stock.
Shares of Amphenol traded down $1.62, reaching $87.65, during trading hours on Wednesday, according to MarketBeat.com. 701,700 shares of the stock traded hands, compared to its average volume of 1,294,608. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.27 and a current ratio of 1.80. Amphenol Co. has a 52-week low of $73.90 and a 52-week high of $93.62. The stock has a market cap of $26.94 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 2.46 and a beta of 0.85.
Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, April 25th. The electronics maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.82 billion. Amphenol had a net margin of 9.45% and a return on equity of 26.65%. Amphenol’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 EPS. equities research analysts predict that Amphenol Co. will post 3.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 10th. Shareholders of record on Monday, June 18th were issued a $0.23 dividend. This is an increase from Amphenol’s previous quarterly dividend of $0.19. This represents a $0.92 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend was Friday, June 15th. Amphenol’s payout ratio is currently 29.49%.
Amphenol announced that its Board of Directors has initiated a share repurchase plan on Wednesday, April 25th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 7.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
A number of research analysts recently weighed in on APH shares. ValuEngine upgraded shares of Amphenol from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Zacks Investment Research cut shares of Amphenol from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Finally, Morgan Stanley lifted their target price on shares of Amphenol from $90.00 to $93.00 and gave the company an “equal weight” rating in a research note on Thursday, April 26th. Four analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Amphenol has a consensus rating of “Buy” and a consensus price target of $93.88.
Amphenol Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, bus bars, and distribution systems; and other connectors.
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