Pitcairn Co. Cuts Stake in Amphenol Co. (NYSE:APH)
Pitcairn Co. cut its position in Amphenol Co. (NYSE:APH) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,709 shares of the electronics maker’s stock after selling 529 shares during the period. Amphenol makes up about 0.4% of Pitcairn Co.’s investment portfolio, making the stock its 27th largest position. Pitcairn Co.’s holdings in Amphenol were worth $3,300,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in APH. FMR LLC raised its stake in Amphenol by 0.5% in the first quarter. FMR LLC now owns 39,355,583 shares of the electronics maker’s stock valued at $2,800,937,000 after buying an additional 208,471 shares in the last quarter. Vanguard Group Inc. raised its stake in Amphenol by 3.2% in the first quarter. Vanguard Group Inc. now owns 29,794,362 shares of the electronics maker’s stock valued at $2,120,464,000 after buying an additional 914,857 shares in the last quarter. BlackRock Inc. raised its stake in Amphenol by 2,540.0% in the first quarter. BlackRock Inc. now owns 19,061,201 shares of the electronics maker’s stock valued at $1,356,586,000 after buying an additional 18,339,185 shares in the last quarter. State Street Corp raised its stake in Amphenol by 1.7% in the first quarter. State Street Corp now owns 12,171,868 shares of the electronics maker’s stock valued at $866,273,000 after buying an additional 203,486 shares in the last quarter. Finally, Janus Capital Management LLC raised its stake in Amphenol by 10.8% in the first quarter. Janus Capital Management LLC now owns 9,234,030 shares of the electronics maker’s stock valued at $657,176,000 after buying an additional 900,961 shares in the last quarter. Hedge funds and other institutional investors own 96.75% of the company’s stock.
Amphenol Co. (NYSE:APH) opened at 77.97 on Friday. The stock has a market capitalization of $23.82 billion, a P/E ratio of 26.25 and a beta of 0.77. Amphenol Co. has a 12-month low of $59.58 and a 12-month high of $78.58. The firm’s 50-day moving average is $75.52 and its 200 day moving average is $72.40.
Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 26th. The electronics maker reported $0.81 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.09. Amphenol had a net margin of 15.22% and a return on equity of 26.62%. The business had revenue of $1.67 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts expect that Amphenol Co. will post $3.09 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Monday, September 18th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 0.97%. This is a boost from Amphenol’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Friday, September 15th. Amphenol’s dividend payout ratio is presently 21.55%.
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Several analysts recently commented on APH shares. Goldman Sachs Group, Inc. (The) lowered shares of Amphenol from a “buy” rating to a “neutral” rating and raised their price target for the company from $75.00 to $78.00 in a research report on Wednesday, July 5th. Zacks Investment Research upgraded shares of Amphenol from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research report on Wednesday, June 7th. Deutsche Bank AG raised their price target on shares of Amphenol from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Royal Bank Of Canada raised their price target on shares of Amphenol from $75.00 to $77.00 and gave the company a “top pick” rating in a research report on Thursday, April 27th. Finally, BidaskClub lowered shares of Amphenol from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Three equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Amphenol presently has a consensus rating of “Buy” and an average price target of $78.38.
In related news, VP William J. Doherty sold 61,800 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $78.12, for a total value of $4,827,816.00. Following the sale, the vice president now directly owns 8,800 shares of the company’s stock, valued at approximately $687,456. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Craig A. Lampo sold 15,000 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $72.86, for a total transaction of $1,092,900.00. Following the completion of the sale, the chief financial officer now directly owns 40,000 shares in the company, valued at $2,914,400. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,265,200 shares of company stock worth $95,179,956. 2.51% of the stock is owned by corporate insiders.
Amphenol Company Profile
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, which include Interconnect Products and Assemblies, and Cable Products and Solutions.
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