Wedge Capital Management L L P NC reduced its holdings in shares of Amphenol Co. (NYSE:APH) by 7.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 443,693 shares of the electronics maker’s stock after selling 36,235 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Amphenol were worth $41,902,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake 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 during the period. Vanguard Group Inc boosted its stake in Amphenol by 0.3% in the 3rd quarter. Vanguard Group Inc now owns 31,413,615 shares of the electronics maker’s stock valued at $2,953,509,000 after purchasing an additional 95,433 shares during the period. BlackRock Inc. boosted its stake in Amphenol by 4.7% in the 4th quarter. BlackRock Inc. now owns 22,227,823 shares of the electronics maker’s stock valued at $1,800,898,000 after purchasing an additional 989,348 shares during the period. Bank of New York Mellon Corp boosted its stake in Amphenol by 0.7% in the 4th quarter. Bank of New York Mellon Corp now owns 11,906,859 shares of the electronics maker’s stock valued at $964,693,000 after purchasing an additional 79,912 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in Amphenol by 1.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,406,813 shares of the electronics maker’s stock valued at $681,119,000 after purchasing an additional 92,916 shares during the period. Institutional investors own 95.92% of the company’s stock.
NYSE APH traded down $1.10 during midday trading on Thursday, hitting $93.47. The company had a trading volume of 47,426 shares, compared to its average volume of 1,293,883. The stock has a market capitalization of $28.25 billion, a PE ratio of 24.80, a P/E/G ratio of 2.39 and a beta of 0.91. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.50 and a quick ratio of 1.76. Amphenol Co. has a twelve month low of $74.95 and a twelve month high of $105.51.
Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, April 24th. The electronics maker reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The firm had revenue of $1.96 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Amphenol had a return on equity of 29.75% and a net margin of 14.55%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 EPS. On average, equities analysts expect that Amphenol Co. will post 3.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 19th will be issued a $0.23 dividend. The ex-dividend date is Tuesday, June 18th. This represents a $0.92 annualized dividend and a yield of 0.98%. Amphenol’s dividend payout ratio is presently 24.40%.
In other news, CFO Craig A. Lampo sold 51,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $100.10, for a total transaction of $5,105,100.00. Following the completion of the transaction, the chief financial officer now owns 49,405 shares of the company’s stock, valued at approximately $4,945,440.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Richard Adam Norwitt sold 430,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $99.46, for a total value of $42,767,800.00. Following the transaction, the chief executive officer now directly owns 200,000 shares of the company’s stock, valued at approximately $19,892,000. The disclosure for this sale can be found here. Insiders sold a total of 886,505 shares of company stock valued at $88,065,603 over the last ninety days. Insiders own 2.60% of the company’s stock.
Several analysts recently issued reports on the company. ValuEngine upgraded Amphenol from a “hold” rating to a “buy” rating in a research note on Wednesday, April 3rd. SunTrust Banks upgraded Amphenol from a “hold” rating to a “buy” rating and boosted their price target for the company from $89.00 to $112.00 in a research note on Tuesday, April 2nd. Wells Fargo & Co set a $105.00 price target on Amphenol and gave the company a “buy” rating in a research note on Monday, March 18th. Morgan Stanley boosted their price target on Amphenol from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, March 5th. Finally, Zacks Investment Research upgraded Amphenol from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research note on Wednesday, February 13th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $105.29.
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.
Featured Article: How to track put option volume
Want to see what other hedge funds are holding APH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amphenol Co. (NYSE:APH).