Amphenol Corporation (NYSE:APH) Stake Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its position in Amphenol Corporation (NYSE:APH - Free Report) by 5.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,166,556 shares of the electronics maker's stock after selling 1,779,076 shares during the period. Bank of New York Mellon Corp owned approximately 2.57% of Amphenol worth $2,044,214,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in Amphenol during the 4th quarter valued at about $1,378,794,000. Bank of America Corp DE boosted its stake in Amphenol by 294.0% during the 4th quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock valued at $1,733,027,000 after purchasing an additional 18,619,417 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Amphenol by 36.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock valued at $4,091,426,000 after purchasing an additional 15,837,407 shares during the period. Wellington Management Group LLP boosted its position in Amphenol by 619.9% during the 4th quarter. Wellington Management Group LLP now owns 7,014,111 shares of the electronics maker's stock worth $487,130,000 after acquiring an additional 6,039,845 shares during the period. Finally, Janus Henderson Group PLC boosted its position in Amphenol by 118.4% during the 4th quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker's stock worth $503,975,000 after acquiring an additional 3,933,269 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Amphenol Price Performance

Amphenol stock traded up $0.84 during mid-day trading on Friday, hitting $99.36. The company's stock had a trading volume of 3,180,786 shares, compared to its average volume of 7,643,084. The company has a quick ratio of 1.36, a current ratio of 1.99 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $120.19 billion, a P/E ratio of 48.23, a P/E/G ratio of 2.27 and a beta of 1.13. Amphenol Corporation has a twelve month low of $54.77 and a twelve month high of $99.71. The stock's fifty day moving average price is $89.15 and its two-hundred day moving average price is $75.34.

Amphenol (NYSE:APH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.11. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.20 billion. Amphenol had a net margin of 15.58% and a return on equity of 27.68%. The business's quarterly revenue was up 47.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. Research analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.66%. The ex-dividend date is Tuesday, June 17th. Amphenol's payout ratio is 32.04%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on APH. UBS Group lifted their price objective on shares of Amphenol from $85.00 to $106.00 and gave the company a "buy" rating in a research note on Friday, May 30th. TD Securities raised their price objective on shares of Amphenol from $63.00 to $70.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Fox Advisors upgraded shares of 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. Robert W. Baird raised their price objective on shares of Amphenol from $73.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Finally, KGI Securities initiated coverage on shares of Amphenol in a research note on Thursday, June 26th. They set a "hold" rating on the stock. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Insider Activity

In other news, CEO Richard Adam Norwitt sold 2,000,000 shares of Amphenol stock in a transaction on Friday, April 25th. The stock was sold at an average price of $75.73, for a total transaction of $151,460,000.00. Following the transaction, the chief executive officer owned 2,002,507 shares in the company, valued at approximately $151,649,855.11. The trade was a 49.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William J. Doherty sold 160,000 shares of Amphenol stock in a transaction 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. In the last 90 days, insiders sold 3,764,500 shares of company stock worth $294,839,785. 1.67% of the stock is owned by corporate insiders.

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.