Amphenol Co. (APH) Stake Lessened by Cigna Investments Inc. New
Cigna Investments Inc. New decreased its holdings in shares of Amphenol Co. (NYSE:APH) by 1.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 8,530 shares of the electronics maker’s stock after selling 151 shares during the period. Cigna Investments Inc. New’s holdings in Amphenol were worth $806,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Natixis Advisors L.P. lifted its holdings in Amphenol by 5.6% in the 4th quarter. Natixis Advisors L.P. now owns 65,274 shares of the electronics maker’s stock valued at $5,288,000 after purchasing an additional 3,449 shares in the last quarter. FMR LLC lifted its holdings in Amphenol by 6.4% in the 4th quarter. FMR LLC now owns 41,896,298 shares of the electronics maker’s stock valued at $3,394,437,000 after purchasing an additional 2,534,967 shares in the last quarter. Penobscot Investment Management Company Inc. lifted its holdings in Amphenol by 2.6% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 17,905 shares of the electronics maker’s stock valued at $1,451,000 after purchasing an additional 460 shares in the last quarter. Moody National Bank Trust Division lifted its holdings in Amphenol by 103.9% in the 1st quarter. Moody National Bank Trust Division now owns 471 shares of the electronics maker’s stock valued at $44,000 after purchasing an additional 240 shares in the last quarter. Finally, Northstar Investment Advisors LLC purchased a new position in Amphenol in the 1st quarter valued at $3,669,000. Hedge funds and other institutional investors own 94.39% of the company’s stock.
NYSE APH opened at $87.00 on Friday. Amphenol Co. has a 52 week low of $74.95 and a 52 week high of $105.51. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.76 and a current ratio of 2.50. The firm has a market cap of $26.44 billion, a PE ratio of 22.99, a P/E/G ratio of 2.13 and a beta of 0.91.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 19th will be issued a dividend of $0.23 per share. The ex-dividend date is Tuesday, June 18th. This represents a $0.92 annualized dividend and a dividend yield of 1.06%. Amphenol’s dividend payout ratio is presently 24.40%.
APH has been the topic of a number of research reports. Bank of America restated a “buy” rating and issued a $107.00 price objective (up previously from $103.00) on shares of Amphenol in a report on Thursday, February 7th. Zacks Investment Research upgraded Amphenol from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, February 13th. Morgan Stanley raised their price objective on Amphenol from $100.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, March 5th. Wells Fargo & Co set a $105.00 price objective on Amphenol and gave the company a “buy” rating in a report on Monday, March 18th. Finally, SunTrust Banks upgraded Amphenol from a “hold” rating to a “buy” rating and raised their price objective for the company from $89.00 to $112.00 in a report on Tuesday, April 2nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $105.29.
In other news, CEO Richard Adam Norwitt sold 430,000 shares of Amphenol stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $99.46, for a total transaction of $42,767,800.00. Following the transaction, the chief executive officer now owns 200,000 shares in the company, valued at approximately $19,892,000. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Lance E. D’amico sold 10,000 shares of Amphenol stock in a transaction on Monday, March 4th. The stock was sold at an average price of $95.42, for a total value of $954,200.00. Following the transaction, the vice president now owns 12,000 shares in the company, valued at approximately $1,145,040. The disclosure for this sale can be found here. In the last quarter, insiders have sold 844,505 shares of company stock worth $84,103,303. Insiders own 2.60% of the company’s stock.
Amphenol Company Profile
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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