Chemical Bank boosted its position in Amphenol Co. (NYSE:APH) by 13.2% during the second quarter, Holdings Channel reports. The fund owned 17,141 shares of the electronics maker’s stock after purchasing an additional 2,000 shares during the quarter. Chemical Bank’s holdings in Amphenol were worth $1,494,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Amalgamated Bank boosted its holdings in Amphenol by 5.3% in the second quarter. Amalgamated Bank now owns 46,197 shares of the electronics maker’s stock valued at $4,026,000 after acquiring an additional 2,342 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Amphenol by 7.7% in the first quarter. Hsbc Holdings PLC now owns 358,580 shares of the electronics maker’s stock valued at $30,890,000 after acquiring an additional 25,607 shares during the last quarter. HRT Financial LLC acquired a new position in Amphenol in the first quarter valued at $964,000. Alps Advisors Inc. lifted its stake in shares of Amphenol by 243.1% during the second quarter. Alps Advisors Inc. now owns 8,042 shares of the electronics maker’s stock worth $706,000 after purchasing an additional 5,698 shares in the last quarter. Finally, Mackay Shields LLC acquired a new position in shares of Amphenol during the first quarter worth about $4,427,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.
Shares of APH opened at $94.15 on Wednesday. The stock has a market cap of $28.25 billion, a price-to-earnings ratio of 27.10, a P/E/G ratio of 2.41 and a beta of 0.90. Amphenol Co. has a 12 month low of $78.90 and a 12 month high of $95.90. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.22 and a current ratio of 1.72.
Amphenol (NYSE:APH) last issued 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 company had revenue of $1.98 billion for the quarter, compared to analysts’ expectations of $1.89 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. equities research analysts predict that Amphenol Co. will post 3.61 earnings per share for the current fiscal year.
Amphenol declared that its board has approved a stock buyback program on Wednesday, April 25th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 10th. Investors of record on Monday, September 17th will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Friday, September 14th. Amphenol’s dividend payout ratio (DPR) is 29.49%.
In related news, VP Richard Gu sold 2,000 shares of the business’s stock in a transaction dated Friday, November 2nd. The stock was sold at an average price of $87.00, for a total value of $174,000.00. Following the transaction, the vice president now owns 3,000 shares in the company, valued at $261,000. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Lance E. D’amico sold 8,000 shares of the business’s stock in a transaction dated Friday, July 27th. The stock was sold at an average price of $95.60, for a total value of $764,800.00. Following the completion of the transaction, 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 sold 640,213 shares of company stock worth $60,480,618. Insiders own 2.34% of the company’s stock.
A number of brokerages have commented on APH. Morgan Stanley upgraded Amphenol from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $95.00 to $102.00 in a research note on Thursday, August 9th. Stifel Nicolaus boosted their price objective on Amphenol from $90.00 to $92.00 and gave the stock a “hold” rating in a research note 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 note on Tuesday, July 10th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target 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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