Geneva Capital Management LLC Reduces Holdings in Amphenol Corporation (NYSE:APH)

Key Points

• Geneva Capital Management LLC has reduced its stake in Amphenol Corporation by 2.4%, now holding 625,511 shares valued at $41.03 million as of the end of the 1st quarter.
• Analysts have set a range of price targets for Amphenol, with UBS Group raising its target from $115.00 to $120.00 while the average price target is currently around $102.23.
• Amphenol reported a significant year-over-year revenue increase of 56.5%, achieving $5.65 billion in revenue for the quarter, exceeding analysts' expectations.

Geneva Capital Management LLC lowered its stake in Amphenol Corporation (NYSE:APH - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 625,511 shares of the electronics maker's stock after selling 15,317 shares during the quarter. Geneva Capital Management LLC owned 0.05% of Amphenol worth $41,027,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in APH. Hughes Financial Services LLC purchased a new position in Amphenol in the 1st quarter valued at $25,000. Avalon Trust Co lifted its holdings 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 purchasing an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in Amphenol in the 1st quarter valued at $28,000. Global X Japan Co. Ltd. purchased a new position in Amphenol in the 1st quarter valued at $44,000. Finally, Coppell Advisory Solutions LLC purchased a new position in Amphenol in the 4th quarter valued at $48,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Bank of America lifted their price target on Amphenol from $110.00 to $120.00 and gave the stock a "neutral" rating in a report on Tuesday. Robert W. Baird lifted their price target on Amphenol from $113.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. UBS Group lifted their price target on Amphenol from $115.00 to $120.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. US Capital Advisors set a $85.00 price target on Amphenol in a report on Thursday, April 24th. Finally, KGI Securities assumed coverage on Amphenol in a report on Thursday, June 26th. They set a "hold" rating on the stock. Four research 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $104.92.

Amphenol Trading Up 1.7%

APH traded up $1.81 on Friday, hitting $110.36. The company had a trading volume of 2,979,820 shares, compared to its average volume of 8,516,466. The firm has a market cap of $134.74 billion, a P/E ratio of 43.98, a PEG ratio of 1.78 and a beta of 1.13. Amphenol Corporation has a 1 year low of $56.45 and a 1 year high of $110.58. The company's fifty day moving average price is $98.66 and its 200 day moving average price is $80.69. The company has a current ratio of 2.02, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61.

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

Amphenol Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Amphenol's payout ratio is presently 26.29%.

Insider Buying and Selling

In other news, insider Luc Walter sold 286,000 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the completion of the transaction, the insider directly owned 451,790 shares of the company's stock, valued at approximately $41,307,159.70. The trade was a 38.76% 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 the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $89.54, for a total transaction of $14,326,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 586,000 shares of company stock valued at $52,935,980. Company insiders own 1.67% of the company's stock.

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.