Chemical Bank lowered its stake in shares of Amphenol Co. (NYSE:APH) by 8.8% during the first quarter, HoldingsChannel.com reports. The firm owned 15,591 shares of the electronics maker’s stock after selling 1,500 shares during the period. Chemical Bank’s holdings in Amphenol were worth $1,472,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. FMR LLC raised its stake in Amphenol by 6.4% during the fourth quarter. FMR LLC now owns 41,896,298 shares of the electronics maker’s stock worth $3,394,437,000 after purchasing an additional 2,534,967 shares during the period. Vanguard Group Inc increased its position in shares of Amphenol by 0.3% in the third quarter. Vanguard Group Inc now owns 31,413,615 shares of the electronics maker’s stock worth $2,953,509,000 after acquiring an additional 95,433 shares in the last quarter. BlackRock Inc. increased its position in shares of Amphenol by 4.7% in the fourth quarter. BlackRock Inc. now owns 22,227,823 shares of the electronics maker’s stock worth $1,800,898,000 after acquiring an additional 989,348 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Amphenol by 0.7% in the fourth quarter. Bank of New York Mellon Corp now owns 11,906,859 shares of the electronics maker’s stock worth $964,693,000 after acquiring an additional 79,912 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Amphenol by 1.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,406,813 shares of the electronics maker’s stock worth $681,119,000 after acquiring an additional 92,916 shares in the last quarter. 96.05% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on the stock. ValuEngine raised shares of Amphenol from a “hold” rating to a “buy” rating in a research report on Wednesday, April 3rd. SunTrust Banks raised shares of Amphenol from a “hold” rating to a “buy” rating and increased their price objective for the stock from $89.00 to $112.00 in a research report on Tuesday, April 2nd. Wells Fargo & Co set a $105.00 price objective on shares of Amphenol and gave the stock a “buy” rating in a research report on Monday, March 18th. Morgan Stanley increased their price objective on shares of Amphenol from $100.00 to $110.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 5th. Finally, Zacks Investment Research lowered shares of Amphenol from a “buy” rating to a “hold” rating in a research report on Thursday, February 14th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $105.29.
In related news, CEO Richard Adam Norwitt sold 430,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $99.46, for a total transaction of $42,767,800.00. Following the completion of the sale, the chief executive officer now directly owns 200,000 shares of the company’s stock, valued at approximately $19,892,000. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jean-Luc Gavelle sold 31,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The shares were sold at an average price of $94.00, for a total transaction of $2,914,000.00. Following the sale, the vice president now directly owns 31,000 shares of the company’s stock, valued at $2,914,000. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 886,505 shares of company stock valued at $88,065,603. Company insiders own 2.60% of the company’s stock.
APH traded up $0.37 during trading hours on Wednesday, reaching $92.67. 8,748 shares of the stock traded hands, compared to its average volume of 1,668,753. The firm has a market cap of $27.53 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 2.21 and a beta of 0.91. Amphenol Co. has a fifty-two week low of $74.95 and a fifty-two week high of $105.51. The company has a current ratio of 2.50, a quick ratio of 1.76 and a debt-to-equity ratio of 0.85.
Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. The business had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.94 billion. Amphenol had a net margin of 14.55% and a return on equity of 29.75%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period last year, the business earned $0.83 EPS. On average, analysts forecast that Amphenol Co. will post 3.88 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 19th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, June 18th. Amphenol’s payout ratio is 24.40%.
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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.
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