Virginia Retirement Systems ET AL Invests $4,088,000 in Amphenol Corp. (APH)
Virginia Retirement Systems ET AL bought a new position in Amphenol Corp. (NYSE:APH) during the second quarter, Holdings Channel reports. The firm bought 71,300 shares of the company’s stock, valued at approximately $4,088,000.
Several other hedge funds and other institutional investors have also bought and sold shares of APH. NN Investment Partners Holdings N.V. purchased a new stake in Amphenol Corp. during the first quarter valued at about $103,000. BlueMountain Capital Management LLC purchased a new stake in Amphenol Corp. during the first quarter valued at about $139,000. Quadrant Capital Group LLC increased its stake in Amphenol Corp. by 3.2% in the second quarter. Quadrant Capital Group LLC now owns 3,215 shares of the company’s stock valued at $181,000 after buying an additional 99 shares during the period. Telemus Capital LLC purchased a new stake in Amphenol Corp. during the second quarter valued at about $206,000. Finally, Princeton Alpha Management LP purchased a new stake in Amphenol Corp. during the second quarter valued at about $217,000. 96.81% of the stock is currently owned by institutional investors and hedge funds.
Amphenol Corp. (NYSE:APH) opened at 64.50 on Wednesday. Amphenol Corp. has a one year low of $44.50 and a one year high of $65.18. The firm has a 50-day moving average price of $61.36 and a 200-day moving average price of $58.51. The firm has a market cap of $19.91 billion, a PE ratio of 26.53 and a beta of 1.16.
Amphenol Corp. (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 20th. The company reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.02. The company earned $1.55 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Amphenol Corp. had a return on equity of 23.72% and a net margin of 13.03%. The firm’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 earnings per share. On average, equities analysts expect that Amphenol Corp. will post $2.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 5th. Stockholders of record on Tuesday, September 13th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 0.87%. Amphenol Corp.’s dividend payout ratio (DPR) is presently 23.05%.
A number of analysts have recently weighed in on the company. Zacks Investment Research downgraded Amphenol Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday. RBC Capital Markets reiterated a “top pick” rating and set a $66.00 target price (up from $65.00) on shares of Amphenol Corp. in a research report on Tuesday. Goldman Sachs Group Inc. upgraded Amphenol Corp. from a “neutral” rating to a “buy” rating and upped their target price for the company from $60.00 to $70.00 in a research report on Tuesday. Finally, Royal Bank Of Canada upped their target price on Amphenol Corp. from $61.00 to $63.00 and gave the company a “top pick” rating in a research report on Thursday, July 21st. Five equities research analysts have rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $68.11.
In other news, insider Richard Adam Norwitt sold 262,000 shares of Amphenol Corp. stock in a transaction on Friday, July 22nd. The stock was 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 directly owns 137,992 shares in the company, valued at $8,142,907.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig A. Lampo sold 14,000 shares of Amphenol Corp. stock in a transaction on Friday, August 19th. The shares were sold at an average price of $61.06, for a total value of $854,840.00. Following the completion of the transaction, the chief financial officer now owns 27,000 shares of the company’s stock, valued at $1,648,620. The disclosure for this sale can be found here. 2.92% of the stock is owned by 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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