Amphenol Corporation (NYSE:APH) Stock Holdings Cut by Tredje AP fonden

Key Points

• Tredje AP fonden reduced its holdings in Amphenol Corporation by 57%, selling 129,000 shares, and now owns 97,322 shares valued at approximately $6.4 million.
• Amphenol's recent quarterly earnings report showed an impressive 56.5% revenue increase year-over-year, reporting $5.65 billion and surpassing the consensus estimate by $640 million.
• Analysts are optimistic about Amphenol, with a consensus rating of "Moderate Buy" and a target price of $102.23, reflecting a significant upgrade from various analysts.

Tredje AP fonden lowered its stake in Amphenol Corporation (NYSE:APH - Free Report) by 57.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,322 shares of the electronics maker's stock after selling 129,000 shares during the period. Tredje AP fonden's holdings in Amphenol were worth $6,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Hughes Financial Services LLC acquired a new stake in Amphenol in the 1st quarter valued at about $25,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Amphenol during the 1st quarter worth about $28,000. Global X Japan Co. Ltd. acquired a new stake in shares of Amphenol during the 1st quarter worth about $44,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Amphenol during the 4th quarter worth about $48,000. Finally, Meeder Asset Management Inc. raised its position in shares of Amphenol by 30.5% during the 1st quarter. Meeder Asset Management Inc. now owns 856 shares of the electronics maker's stock worth $56,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Amphenol Trading Down 2.1%

Shares of NYSE:APH traded down $2.22 during midday trading on Friday, reaching $104.29. The company's stock had a trading volume of 8,736,054 shares, compared to its average volume of 8,870,272. The firm has a market cap of $127.33 billion, a price-to-earnings ratio of 41.55, a price-to-earnings-growth ratio of 1.78 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 1 year low of $54.77 and a 1 year high of $108.85. The business has a 50 day moving average price of $96.99 and a 200 day moving average price of $79.62.

Amphenol (NYSE:APH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.15. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $0.44 earnings per share. Research analysts forecast that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Amphenol's payout ratio is 26.29%.

Insider Transactions at Amphenol

In other Amphenol news, VP Michael R. Ivas sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the sale, the vice president owned 152,412 shares in the company, valued at $13,532,661.48. This represents a 20.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider William J. Doherty sold 160,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $89.54, for a total value of $14,326,400.00. The disclosure for this sale can be found here. Insiders sold a total of 586,000 shares of company stock worth $52,935,980 in the last three months. 1.67% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on APH shares. The Goldman Sachs Group reissued a "buy" rating on shares of Amphenol in a research report on Friday, July 11th. Evercore ISI raised their target price on Amphenol from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Citigroup raised their price target on Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. UBS Group raised 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, Industrial Alliance Securities set a $115.00 target price on Amphenol in a research note on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.23.

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.