Horizon Investments LLC Cuts Position in Amphenol Corporation $APH

Key Points

• Horizon Investments LLC reduced its holdings in Amphenol Corporation by 8.0% during Q1, now owning 51,605 shares valued at approximately $3.4 million.
• Amphenol reported a strong quarterly earnings performance, with $0.81 earnings per share beating estimates by $0.15 and a year-over-year revenue increase of 56.5% to $5.65 billion.
• The company announced a quarterly dividend of $0.165 per share, representing an annualized dividend yield of 0.6% and a payout ratio of 26.29%.

Horizon Investments LLC decreased its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,605 shares of the electronics maker's stock after selling 4,479 shares during the period. Horizon Investments LLC's holdings in Amphenol were worth $3,385,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC increased its stake in Amphenol by 114.0% in the fourth quarter. Brighton Jones LLC now owns 17,624 shares of the electronics maker's stock valued at $1,224,000 after purchasing an additional 9,390 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in shares of Amphenol by 87.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker's stock valued at $701,000 after buying an additional 4,721 shares during the period. CreativeOne Wealth LLC raised its stake in Amphenol by 15.5% during the 4th quarter. CreativeOne Wealth LLC now owns 6,878 shares of the electronics maker's stock worth $478,000 after buying an additional 923 shares during the period. NewEdge Advisors LLC boosted its holdings in Amphenol by 2.7% in the fourth quarter. NewEdge Advisors LLC now owns 49,587 shares of the electronics maker's stock worth $3,444,000 after acquiring an additional 1,297 shares in the last quarter. Finally, Wasatch Advisors LP grew its position in Amphenol by 12.7% in the 4th quarter. Wasatch Advisors LP now owns 19,697 shares of the electronics maker's stock valued at $1,368,000 after purchasing an additional 2,214 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on APH shares. Robert W. Baird lifted their price target on Amphenol from $113.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Industrial Alliance Securities set a $115.00 price objective on shares of Amphenol in a report on Friday, July 11th. The Goldman Sachs Group reissued a "buy" rating on shares of Amphenol in a research report on Friday, July 11th. UBS Group increased their price target on Amphenol from $115.00 to $120.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Fox Advisors upgraded Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $104.92.

Amphenol Trading Up 1.8%

Shares of NYSE:APH traded up $1.92 during midday trading on Monday, hitting $111.13. 6,808,435 shares of the stock traded hands, compared to its average volume of 9,359,343. The business's 50 day moving average is $101.26 and its two-hundred day moving average is $82.65. The stock has a market capitalization of $135.68 billion, a PE ratio of 44.28, a P/E/G ratio of 1.75 and a beta of 1.13. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. Amphenol Corporation has a one year low of $56.45 and a one year high of $112.35.

Amphenol (NYSE:APH - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.15. The firm had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The business's revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 EPS. As a group, research analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Amphenol's dividend payout ratio (DPR) is currently 26.29%.

Insider Buying and Selling at Amphenol

In related news, insider Luc Walter sold 286,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the completion of the transaction, the insider owned 451,790 shares of the company's stock, valued at $41,307,159.70. This trade represents a 38.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David M. Silverman sold 100,000 shares of the stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.09, for a total value of $8,909,000.00. Following the completion of the sale, the vice president directly owned 12,500 shares in the company, valued at approximately $1,113,625. This represents a 88.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 812,000 shares of company stock worth $77,703,320 over the last three months. Company insiders own 1.67% of the company's stock.

Amphenol Profile

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.