State of Michigan Retirement System raised its stake in Amphenol Co. (NYSE:APH) by 100.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 150,396 shares of the electronics maker’s stock after acquiring an additional 75,198 shares during the quarter. State of Michigan Retirement System’s holdings in Amphenol were worth $9,922,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in APH. Mascoma Wealth Management LLC acquired a new position in shares of Amphenol in the first quarter worth $26,000. Sonora Investment Management LLC raised its holdings in shares of Amphenol by 100.0% in the first quarter. Sonora Investment Management LLC now owns 400 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Atlas Private Wealth Management raised its holdings in shares of Amphenol by 100.0% in the first quarter. Atlas Private Wealth Management now owns 428 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 214 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Amphenol in the fourth quarter worth $29,000. Finally, Key Financial Inc acquired a new position in shares of Amphenol in the fourth quarter worth $33,000. 92.82% of the stock is owned by institutional investors.
Several brokerages have commented on APH. Morgan Stanley upped their price target on Amphenol from $66.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 5th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Amphenol from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, May 5th. Finally, Zacks Investment Research lowered Amphenol from a “buy” rating to a “hold” rating and set a $66.50 price target for the company. in a research note on Friday, January 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. Amphenol presently has an average rating of “Hold” and an average target price of $64.27.
Amphenol (NYSE:APH) last released its earnings results on Tuesday, April 27th. The electronics maker reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.05. Amphenol had a return on equity of 23.23% and a net margin of 14.00%. The company had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.18 billion. During the same quarter last year, the business posted $0.71 EPS. Amphenol’s quarterly revenue was up 27.7% compared to the same quarter last year. As a group, equities research analysts forecast that Amphenol Co. will post 3.62 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 14th. Shareholders of record on Tuesday, June 22nd will be issued a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date is Monday, June 21st. Amphenol’s dividend payout ratio is presently 15.51%.
In related news, CFO Craig A. Lampo sold 144,000 shares of the firm’s stock in a transaction that occurred on Friday, May 7th. The stock was sold at an average price of $68.22, for a total value of $9,823,680.00. Following the sale, the chief financial officer now directly owns 253,846 shares in the company, valued at approximately $17,317,374.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Adam Norwitt sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 4th. The shares were sold at an average price of $65.94, for a total value of $26,376,000.00. Following the completion of the sale, the chief executive officer now owns 632,424 shares in the company, valued at $41,702,038.56. The disclosure for this sale can be found here. Insiders have sold a total of 619,133 shares of company stock worth $41,302,363 over the last quarter. Insiders own 2.72% of the company’s stock.
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 in 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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