Pallas Capital Advisors LLC Acquires Shares of 25,616 Amphenol Co. (NYSE:APH)

Pallas Capital Advisors LLC acquired a new stake in Amphenol Co. (NYSE:APH) during the 1st quarter, Holdings Channel reports. The institutional investor acquired 25,616 shares of the electronics maker’s stock, valued at approximately $1,680,000.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Amphenol by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 152,127,847 shares of the electronics maker’s stock valued at $10,565,279,000 after acquiring an additional 2,108,578 shares during the last quarter. FMR LLC lifted its holdings in shares of Amphenol by 2.6% in the 4th quarter. FMR LLC now owns 104,250,575 shares of the electronics maker’s stock worth $7,240,202,000 after buying an additional 2,643,752 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amphenol by 36.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker’s stock worth $4,091,426,000 after buying an additional 15,837,407 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Amphenol by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 25,325,653 shares of the electronics maker’s stock worth $1,754,672,000 after buying an additional 659,560 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Amphenol by 294.0% in the 4th quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker’s stock worth $1,733,027,000 after buying an additional 18,619,417 shares during the period. Institutional investors own 97.01% of the company’s stock.

Amphenol Trading Down 0.4%

Shares of NYSE APH opened at $92.95 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 1.75. The stock has a market capitalization of $112.43 billion, a P/E ratio of 48.54, a price-to-earnings-growth ratio of 1.92 and a beta of 1.12. Amphenol Co. has a 1-year low of $54.77 and a 1-year high of $93.90. The business has a fifty day moving average price of $77.73 and a 200 day moving average price of $72.38.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the business posted $0.40 earnings per share. The firm’s revenue was up 47.7% compared to the same quarter last year. Equities research analysts expect that Amphenol Co. will post 2.36 EPS for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Tuesday, June 17th. Amphenol’s dividend payout ratio (DPR) is presently 32.04%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Fox Advisors upgraded Amphenol from an “equal weight” rating to an “overweight” rating and set a $85.00 target price for the company in a report on Thursday, April 24th. Citigroup upped their target price on Amphenol from $85.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, May 27th. The Goldman Sachs Group upped their target price on Amphenol from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Evercore ISI upped their target price on Amphenol from $88.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. Finally, UBS Group upped their target price on Amphenol from $85.00 to $106.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $86.31.

Insider Buying and Selling at Amphenol

In other Amphenol news, insider William J. Doherty sold 126,000 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $80.28, for a total value of $10,115,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luc Walter sold 286,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $91.43, for a total value of $26,148,980.00. Following the completion of the sale, the insider now owns 451,790 shares of the company’s stock, valued at approximately $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,764,500 shares of company stock worth $294,839,785. 1.67% of the stock is owned by insiders.

About Amphenol

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.