Laffer Investments Lowers Stake in Amphenol Corporation (APH)
Laffer Investments cut its holdings in Amphenol Corporation (NYSE:APH) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,320 shares of the electronics maker’s stock after selling 1,820 shares during the quarter. Laffer Investments’ holdings in Amphenol were worth $2,143,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in APH. Janney Montgomery Scott LLC grew its position in shares of Amphenol by 3.9% in the second quarter. Janney Montgomery Scott LLC now owns 6,949 shares of the electronics maker’s stock valued at $513,000 after purchasing an additional 263 shares during the last quarter. IFP Advisors Inc grew its position in shares of Amphenol by 50.8% in the second quarter. IFP Advisors Inc now owns 2,500 shares of the electronics maker’s stock valued at $185,000 after purchasing an additional 842 shares during the last quarter. Global X Management Co. LLC grew its position in shares of Amphenol by 14.7% in the second quarter. Global X Management Co. LLC now owns 4,574 shares of the electronics maker’s stock valued at $338,000 after purchasing an additional 587 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of Amphenol by 2,839.5% in the second quarter. Canada Pension Plan Investment Board now owns 2,381 shares of the electronics maker’s stock valued at $176,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Wetherby Asset Management Inc. grew its position in shares of Amphenol by 23.2% in the second quarter. Wetherby Asset Management Inc. now owns 3,990 shares of the electronics maker’s stock valued at $294,000 after purchasing an additional 752 shares during the last quarter. Institutional investors and hedge funds own 96.67% of the company’s stock.
Several research firms have recently commented on APH. Royal Bank of Canada reiterated a “top pick” rating and issued a $85.00 price target (up from $81.00) on shares of Amphenol in a research report on Tuesday, August 29th. Cowen reiterated an “outperform” rating and issued a $95.00 price target (up from $85.00) on shares of Amphenol in a research report on Tuesday, October 10th. Bank of America upgraded shares of Amphenol from a “neutral” rating to a “buy” rating in a research report on Friday, September 29th. Zacks Investment Research upgraded shares of Amphenol from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a research report on Thursday, August 24th. Finally, Deutsche Bank raised their target price on shares of Amphenol from $95.00 to $96.00 and gave the stock a “buy” rating in a research report on Thursday, October 26th. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $87.90.
In other Amphenol news, VP Jean-Luc Gavelle sold 88,000 shares of Amphenol stock in a transaction on Friday, October 27th. The shares were sold at an average price of $86.37, for a total value of $7,600,560.00. Following the transaction, the vice president now owns 48,000 shares in the company, valued at approximately $4,145,760. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Diana G. Reardon sold 503,000 shares of Amphenol stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $90.73, for a total transaction of $45,637,190.00. Following the completion of the transaction, the director now owns 260,000 shares in the company, valued at approximately $23,589,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 849,000 shares of company stock worth $75,518,690. 2.51% of the stock is owned by company insiders.
Shares of Amphenol Corporation (APH) opened at $89.50 on Thursday. Amphenol Corporation has a 1 year low of $66.00 and a 1 year high of $91.26. The stock has a market cap of $27,379.76, a P/E ratio of 28.47, a P/E/G ratio of 2.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.27 and a current ratio of 3.04.
Amphenol (NYSE:APH) last announced its earnings results on Wednesday, October 25th. The electronics maker reported $0.88 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.09. Amphenol had a net margin of 14.73% and a return on equity of 25.63%. The firm had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the business earned $0.73 earnings per share. Amphenol’s revenue was up 12.5% compared to the same quarter last year. analysts forecast that Amphenol Corporation will post 3.21 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Investors of record on Monday, December 18th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 0.85%. Amphenol’s dividend payout ratio (DPR) is currently 24.20%.
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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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