State of Michigan Retirement System raised its position in Amphenol Co. (NYSE:APH) by 11.1% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 75,598 shares of the electronics maker’s stock after acquiring an additional 7,546 shares during the period. State of Michigan Retirement System’s holdings in Amphenol were worth $7,243,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jacobi Capital Management LLC bought a new position in shares of Amphenol in the 2nd quarter worth $29,000. Key Financial Inc acquired a new position in shares of Amphenol during the first quarter valued at about $31,000. Sound Income Strategies LLC increased its position in shares of Amphenol by 350.0% during the first quarter. Sound Income Strategies LLC now owns 450 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Shine Investment Advisory Services Inc. increased its position in shares of Amphenol by 75.3% during the first quarter. Shine Investment Advisory Services Inc. now owns 482 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 207 shares in the last quarter. Finally, Cognios Capital LLC acquired a new stake in shares of Amphenol in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 94.07% of the company’s stock.
Shares of NYSE:APH opened at $105.76 on Friday. The firm has a market capitalization of $31.56 billion, a PE ratio of 29.46, a P/E/G ratio of 4.23 and a beta of 1.27. The company has a quick ratio of 1.82, a current ratio of 2.59 and a debt-to-equity ratio of 0.78. The company has a 50-day moving average price of $98.16 and a two-hundred day moving average price of $92.97. Amphenol Co. has a twelve month low of $63.05 and a twelve month high of $110.24.
Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 22nd. The electronics maker reported $0.81 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.18. Amphenol had a net margin of 13.56% and a return on equity of 23.39%. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the company posted $0.92 EPS. Analysts anticipate that Amphenol Co. will post 3.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Tuesday, September 15th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, September 14th. Amphenol’s dividend payout ratio (DPR) is presently 26.74%.
In related news, SVP William J. Doherty sold 50,400 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $101.83, for a total value of $5,132,232.00. Following the sale, the senior vice president now owns 20,000 shares in the company, valued at $2,036,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Adam Norwitt sold 325,000 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $105.12, for a total value of $34,164,000.00. Following the completion of the transaction, the chief executive officer now owns 200,000 shares in the company, valued at $21,024,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,082 shares of company stock worth $48,535,741. 2.72% of the stock is currently owned by corporate insiders.
Several analysts have recently commented on APH shares. Jefferies Financial Group increased their price objective on Amphenol from $119.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 23rd. Zacks Investment Research upgraded shares of Amphenol from a “sell” rating to a “hold” rating and set a $91.00 target price for the company in a research note on Monday, April 27th. Wells Fargo & Co reissued a “buy” rating and set a $118.00 price target (up from $108.00) on shares of Amphenol in a research report on Thursday, July 23rd. Morgan Stanley increased their price objective on shares of Amphenol from $101.00 to $106.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Finally, Loop Capital started coverage on Amphenol in a report on Monday, April 20th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $108.50.
Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets 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, busbars, and distribution systems; and other connectors.
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