Beacon Harbor Wealth Advisors Inc. Invests $5.78 Million in Amphenol Corporation (NYSE:APH)

Key Points

• Beacon Harbor Wealth Advisors Inc. invested approximately $5.78 million in Amphenol Corporation by acquiring 88,121 shares during the first quarter.
• Amphenol reported $0.81 earnings per share for the recent quarter, outperforming estimates and showing a revenue growth of 56.5% year-over-year.
• The company declared a quarterly dividend of $0.165 per share to be paid on October 8th, resulting in an annualized yield of 0.6%.

Beacon Harbor Wealth Advisors Inc. purchased a new stake in shares of Amphenol Corporation (NYSE:APH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 88,121 shares of the electronics maker's stock, valued at approximately $5,780,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Hughes Financial Services LLC bought a new position in Amphenol in the 1st quarter valued at $25,000. Avalon Trust Co grew its position in Amphenol by 133.3% in the 1st quarter. Avalon Trust Co now owns 406 shares of the electronics maker's stock valued at $27,000 after acquiring an additional 232 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Amphenol in the 1st quarter valued at $28,000. Global X Japan Co. Ltd. bought a new position in Amphenol in the 1st quarter valued at $44,000. Finally, Coppell Advisory Solutions LLC bought a new position in Amphenol in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insiders Place Their Bets

In other Amphenol news, VP David M. Silverman sold 100,000 shares of the stock in a transaction dated 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 trade represents a 88.89% decrease in their ownership of the stock. The transaction 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 the stock in a transaction dated 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 ninety days, insiders have sold 586,000 shares of company stock valued at $52,935,980. 1.67% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have commented on the company. TD Securities upped their price objective on Amphenol from $63.00 to $70.00 and gave the company a "hold" rating in a research report on Thursday, May 1st. Evercore ISI increased their price target on Amphenol from $105.00 to $110.00 and gave the stock an "outperform" rating in a research report on Friday, July 18th. Robert W. Baird increased their price target on Amphenol from $113.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Truist Financial increased their price target on Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Fox Advisors raised 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 investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $104.92.

Amphenol Stock Up 1.3%

APH stock traded up $1.46 during trading on Friday, reaching $110.01. 5,052,387 shares of the company traded hands, compared to its average volume of 9,351,925. Amphenol Corporation has a 12 month low of $56.45 and a 12 month high of $110.60. The business has a 50 day simple moving average of $99.07 and a 200 day simple moving average of $80.95. The company has a market capitalization of $134.31 billion, a price-to-earnings ratio of 43.83, a price-to-earnings-growth ratio of 1.77 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.46 and a current ratio of 2.02.

Amphenol (NYSE:APH - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.15. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the company earned $0.44 earnings per share. The firm's revenue for the quarter was up 56.5% compared to the same quarter last year. On average, equities research analysts anticipate 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. Shareholders of record on Tuesday, September 16th will be paid a $0.165 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Amphenol's dividend payout ratio (DPR) is 26.29%.

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.