Arizona State Retirement System cut its position in Amphenol Co. (NYSE:APH) by 8.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,788 shares of the electronics maker’s stock after selling 11,545 shares during the period. Arizona State Retirement System’s holdings in Amphenol were worth $10,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Landaas & Co. WI ADV acquired a new stake in shares of Amphenol in the second quarter worth approximately $113,000. AdvisorNet Financial Inc boosted its stake in shares of Amphenol by 236.1% in the second quarter. AdvisorNet Financial Inc now owns 1,341 shares of the electronics maker’s stock worth $117,000 after acquiring an additional 942 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of Amphenol by 16,640.0% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,674 shares of the electronics maker’s stock worth $146,000 after acquiring an additional 1,664 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new stake in shares of Amphenol in the second quarter worth approximately $175,000. Finally, Stockman Wealth Management Inc. acquired a new stake in shares of Amphenol in the first quarter worth approximately $206,000. 95.22% of the stock is currently owned by hedge funds and other institutional investors.
In other Amphenol news, CEO Richard Adam Norwitt sold 165,000 shares of Amphenol stock in a transaction on Tuesday, July 31st. The stock was sold at an average price of $93.32, for a total value of $15,397,800.00. Following the sale, the chief executive officer now owns 377,492 shares in the company, valued at $35,227,553.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lance E. D’amico sold 8,000 shares of Amphenol stock in a transaction on Friday, July 27th. The shares were sold at an average price of $95.60, for a total value of $764,800.00. Following the completion of the sale, the vice president now owns 10,000 shares in the company, valued at approximately $956,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 640,213 shares of company stock worth $60,480,618. 2.34% of the stock is currently owned by company insiders.
Shares of Amphenol stock opened at $94.05 on Friday. Amphenol Co. has a one year low of $78.12 and a one year high of $95.90. The company has a market cap of $28.16 billion, a P/E ratio of 30.14, a P/E/G ratio of 2.40 and a beta of 0.90. The company has a current ratio of 1.72, a quick ratio of 1.22 and a debt-to-equity ratio of 0.70.
Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 25th. The electronics maker reported $0.90 EPS for the quarter, topping the Zacks’ consensus estimate of $0.85 by $0.05. Amphenol had a return on equity of 27.49% and a net margin of 9.49%. The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the business posted $0.74 earnings per share. The firm’s revenue was up 18.9% compared to the same quarter last year. research analysts predict that Amphenol Co. will post 3.61 earnings per share for the current year.
Amphenol announced that its board has approved a share buyback plan on Wednesday, April 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to buy up to 7.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Monday, September 17th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, September 14th. This represents a $0.92 dividend on an annualized basis and a yield of 0.98%. Amphenol’s payout ratio is 29.49%.
A number of equities analysts recently commented on the company. Morgan Stanley lifted their price objective on Amphenol from $93.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 26th. Stifel Nicolaus lifted their price objective on Amphenol from $90.00 to $92.00 and gave the stock a “hold” rating in a research report on Thursday, July 26th. Finally, Zacks Investment Research upgraded Amphenol from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Tuesday, July 10th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Amphenol currently has an average rating of “Buy” and an average target price of $95.88.
Amphenol Company Profile
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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