Cresset Asset Management LLC Sells 3,216 Shares of Amphenol Corporation $APH

Key Points

• Cresset Asset Management LLC reduced its stake in Amphenol Corporation by 0.9%, selling 3,216 shares, which left them with a total of 349,498 shares valued at approximately $22.98 million.
• Various hedge funds increased their positions in Amphenol, with American Century Companies Inc. expanding their stake by 702.3%, acquiring an additional 1,027,353 shares valued at $76.98 million.
• Equities analysts have shown optimism, raising their target prices for Amphenol; JPMorgan Chase & Co. increased its target from $120.00 to $125.00, while Citigroup raised its target from $115.00 to $125.00, indicating strong buy sentiments.

Cresset Asset Management LLC decreased its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 349,498 shares of the electronics maker's stock after selling 3,216 shares during the period. Cresset Asset Management LLC's holdings in Amphenol were worth $22,981,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Hughes Financial Services LLC bought a new position in shares of Amphenol during the 1st quarter valued at about $25,000. Avalon Trust Co boosted its position in shares of Amphenol by 133.3% during the 1st quarter. Avalon Trust Co now owns 406 shares of the electronics maker's stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of Amphenol during the 1st quarter valued at about $28,000. SouthState Corp bought a new position in shares of Amphenol during the 1st quarter valued at about $36,000. Finally, Global X Japan Co. Ltd. bought a new position in shares of Amphenol during the 1st quarter valued at about $44,000. Institutional investors own 97.01% of the company's stock.

Insider Buying and Selling at Amphenol

In other Amphenol news, VP Michael R. Ivas sold 40,000 shares of Amphenol stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $88.79, for a total value of $3,551,600.00. Following the completion of the sale, the vice president directly owned 152,412 shares in the company, valued at $13,532,661.48. The trade was a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Luc Walter sold 286,000 shares of Amphenol 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 owned 451,790 shares of the company's stock, valued at $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 812,000 shares of company stock valued at $77,703,320 over the last three months. 1.67% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on APH. Evercore ISI raised their target price on shares of Amphenol from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Citigroup raised their target price on shares of Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group reiterated a "buy" rating on shares of Amphenol in a report on Friday, July 11th. Wall Street Zen cut shares of Amphenol from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 10th. Finally, TD Securities raised their target price on shares of Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $104.92.

Amphenol Stock Up 1.8%

Shares of APH stock traded up $1.92 during trading on Monday, hitting $111.13. 6,808,435 shares of the company were exchanged, compared to its average volume of 9,359,343. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.46 and a current ratio of 2.02. The firm has a market capitalization of $135.68 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 1.75 and a beta of 1.13. The business's 50-day simple moving average is $101.26 and its 200 day simple moving average is $82.65. Amphenol Corporation has a twelve month low of $56.45 and a twelve month high of $112.35.

Amphenol (NYSE:APH - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.66 by $0.15. The business had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.01 billion. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The firm's quarterly revenue was up 56.5% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. As a group, analysts forecast that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

Amphenol Announces Dividend

The firm also recently announced 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 payout ratio is 26.29%.

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.