Strategy Asset Managers LLC Trims Stock Holdings in Amphenol Corporation (NYSE:APH)

Key Points

• Strategy Asset Managers LLC reduced its holdings in Amphenol Corporation by 29.3%, now owning 6,164 shares valued at approximately $404,000.
• Amphenol announced a quarterly dividend of $0.165 per share, with an annualized yield of 0.6% and a payout ratio of 26.29%.
• Analysts have shown optimism for Amphenol, with several firms raising their price targets, and the consensus target price is now set at $104.92.

Strategy Asset Managers LLC decreased its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 29.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,164 shares of the electronics maker's stock after selling 2,556 shares during the period. Strategy Asset Managers LLC's holdings in Amphenol were worth $404,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Amphenol by 294.0% in the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock worth $1,733,027,000 after buying an additional 18,619,417 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Amphenol by 36.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock worth $4,091,426,000 after buying an additional 15,837,407 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Amphenol by 118.4% in the fourth quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker's stock worth $503,975,000 after buying an additional 3,933,269 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Amphenol by 108.9% in the fourth quarter. Mackenzie Financial Corp now owns 5,564,252 shares of the electronics maker's stock worth $386,437,000 after buying an additional 2,900,024 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Amphenol by 1.9% in the first quarter. Vanguard Group Inc. now owns 154,998,780 shares of the electronics maker's stock worth $10,166,370,000 after buying an additional 2,870,933 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Amphenol Trading Up 1.3%

NYSE:APH traded up $1.46 during midday trading on Friday, hitting $110.01. The stock had a trading volume of 5,052,387 shares, compared to its average volume of 9,351,925. Amphenol Corporation has a one year low of $56.45 and a one year high of $110.60. The company has a market capitalization of $134.31 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 1.77 and a beta of 1.13. The stock has a 50-day moving average of $99.07 and a 200 day moving average of $80.95. 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 (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, beating the consensus estimate of $0.66 by $0.15. The business had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The business's revenue for the quarter was up 56.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 EPS. As a group, sell-side analysts forecast that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Bank of America boosted their target price on Amphenol from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price objective on Amphenol from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. 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 report on Thursday, April 24th. UBS Group upped their price objective on Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Amphenol in a research report on Friday, July 11th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Amphenol currently has a consensus rating of "Moderate Buy" and an average target price of $104.92.

Insider Buying and Selling

In other news, insider William J. Doherty sold 160,000 shares of the firm's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.54, for a total value of $14,326,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David M. Silverman sold 100,000 shares of the firm's 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 of the company's stock, valued at $1,113,625. The trade was a 88.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 586,000 shares of company stock worth $52,935,980 over the last quarter. Insiders own 1.67% of the company's stock.

About Amphenol

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.