Amphenol Corp. (APH) Stake Raised by First Merchants Corp
First Merchants Corp boosted its stake in Amphenol Corp. (NYSE:APH) by 16.5% during the second quarter, Holdings Channel reports. The firm owned 12,795 shares of the company’s stock after buying an additional 1,813 shares during the period. First Merchants Corp’s holdings in Amphenol Corp. were worth $734,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in Amphenol Corp. during the fourth quarter valued at approximately $123,738,000. Credit Agricole S A raised its position in Amphenol Corp. by 288.8% in the first quarter. Credit Agricole S A now owns 499,533 shares of the company’s stock valued at $28,883,000 after buying an additional 371,056 shares during the period. Torray LLC raised its position in Amphenol Corp. by 39.8% in the first quarter. Torray LLC now owns 864,522 shares of the company’s stock valued at $49,987,000 after buying an additional 246,253 shares during the period. Bank of Montreal Can purchased a new position in Amphenol Corp. during the second quarter valued at approximately $10,531,000. Finally, Wellington Management Group LLP raised its position in Amphenol Corp. by 5.7% in the first quarter. Wellington Management Group LLP now owns 2,919,191 shares of the company’s stock valued at $168,788,000 after buying an additional 156,760 shares during the period. Hedge funds and other institutional investors own 96.81% of the company’s stock.
Amphenol Corp. (NYSE:APH) traded up 1.20% during mid-day trading on Wednesday, hitting $64.90. 1,148,420 shares of the stock traded hands. The company has a 50 day moving average of $61.54 and a 200-day moving average of $58.56. The stock has a market cap of $20.04 billion, a PE ratio of 26.70 and a beta of 1.16. Amphenol Corp. has a 12-month low of $44.50 and a 12-month high of $65.18.
Amphenol Corp. (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.02. Amphenol Corp. had a net margin of 13.03% and a return on equity of 23.72%. The company earned $1.55 billion during the quarter, compared to the consensus estimate of $1.52 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Equities research analysts forecast that Amphenol Corp. will post $2.63 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Investors of record on Tuesday, September 13th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 0.86%. Amphenol Corp.’s dividend payout ratio is currently 23.05%.
Several research analysts recently commented on APH shares. Goldman Sachs Group Inc. upgraded shares of Amphenol Corp. from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $70.00 in a research note on Tuesday. Zacks Investment Research upgraded shares of Amphenol Corp. from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research note on Friday, July 22nd. RBC Capital Markets reiterated a “top pick” rating and set a $66.00 price objective (up previously from $65.00) on shares of Amphenol Corp. in a research note on Tuesday. Finally, Royal Bank Of Canada boosted their price objective on shares of Amphenol Corp. from $61.00 to $63.00 and gave the stock a “top pick” rating in a research note on Thursday, July 21st. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. Amphenol Corp. currently has a consensus rating of “Buy” and a consensus price target of $68.11.
In related news, insider Richard Adam Norwitt sold 262,000 shares of Amphenol Corp. stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $59.01, for a total value of $15,460,620.00. Following the completion of the transaction, the insider now owns 137,992 shares in the company, valued at $8,142,907.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig A. Lampo sold 23,000 shares of Amphenol Corp. stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $62.08, for a total transaction of $1,427,840.00. Following the completion of the transaction, the chief financial officer now owns 43,000 shares of the company’s stock, valued at approximately $2,669,440. The disclosure for this sale can be found here. 2.92% of the stock is currently owned by corporate insiders.
About Amphenol Corp.
Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and coaxial and specialty cable. The Company operates through two segments: Interconnect Products and Assemblies, and Cable Products and Solutions.
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