Azimuth Capital Investment Management LLC Has $22.30 Million Stake in Amphenol Corporation (NYSE:APH)

Key Points

• Azimuth Capital Investment Management LLC reduced its stake in Amphenol Corporation by 38.6% in Q1, now holding 339,992 shares valued at approximately $22.30 million.
• Insider Luc Walter sold 286,000 shares of Amphenol, reducing his ownership by 38.76%, while Michael R. Ivas sold 40,000 shares, representing a 20.79% decrease in his holdings.
• Amphenol recently announced a quarterly dividend of $0.165 per share with a dividend yield of 0.6%, expected to be paid on October 8th to investors of record.

Azimuth Capital Investment Management LLC decreased its position in Amphenol Corporation (NYSE:APH - Free Report) by 38.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 339,992 shares of the electronics maker's stock after selling 214,180 shares during the period. Amphenol comprises about 0.9% of Azimuth Capital Investment Management LLC's investment portfolio, making the stock its 28th biggest holding. Azimuth Capital Investment Management LLC's holdings in Amphenol were worth $22,300,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APH. Perigon Wealth Management LLC raised its holdings in shares of Amphenol by 29.4% during the 1st quarter. Perigon Wealth Management LLC now owns 17,438 shares of the electronics maker's stock valued at $1,144,000 after purchasing an additional 3,964 shares in the last quarter. Raiffeisen Bank International AG bought a new position in shares of Amphenol during the 4th quarter valued at $13,847,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Amphenol by 46.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 69,958 shares of the electronics maker's stock valued at $4,589,000 after purchasing an additional 22,293 shares in the last quarter. Transcend Capital Advisors LLC raised its holdings in Amphenol by 14.4% in the 1st quarter. Transcend Capital Advisors LLC now owns 4,504 shares of the electronics maker's stock worth $295,000 after acquiring an additional 568 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Amphenol by 4.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 61,920 shares of the electronics maker's stock worth $4,061,000 after acquiring an additional 2,514 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Insider Buying and Selling at Amphenol

In related news, insider Luc Walter sold 286,000 shares of the business's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the completion of the sale, the insider directly owned 451,790 shares of the company's stock, valued at $41,307,159.70. The trade was a 38.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Michael R. Ivas sold 40,000 shares of the business'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 directly owned 152,412 shares of the company's stock, valued at approximately $13,532,661.48. This trade represents a 20.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 812,000 shares of company stock valued at $77,703,320. 1.67% of the stock is currently owned by corporate insiders.

Amphenol Trading Up 0.8%

Shares of APH stock opened at $110.76 on Friday. Amphenol Corporation has a 12-month low of $56.45 and a 12-month high of $112.35. The company has a market capitalization of $135.23 billion, a P/E ratio of 44.13, a P/E/G ratio of 1.76 and a beta of 1.13. The firm has a 50-day moving average price of $100.58 and a 200 day moving average price of $81.92. 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 quarterly 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. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the firm posted $0.44 EPS. The firm's quarterly revenue was up 56.5% on a year-over-year basis. Research analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

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

Analyst Ratings Changes

Several brokerages recently commented on APH. US Capital Advisors set a $85.00 target price on shares of Amphenol in a report on Thursday, April 24th. Industrial Alliance Securities set a $115.00 target price on shares of Amphenol in a report on Friday, July 11th. Robert W. Baird lifted their target price on shares of Amphenol from $113.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on shares of Amphenol from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, Fox Advisors upgraded shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Amphenol currently has a consensus rating of "Moderate Buy" and an average target price of $104.92.

Amphenol Company 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.

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