HITE Hedge Asset Management LLC Boosts Stock Holdings in Amphenol Corporation $APH

Key Points

• HITE Hedge Asset Management LLC significantly increased its stake in Amphenol Corporation by 375.3%, now owning 83,844 shares valued at approximately $5.5 million.
• Amphenol Corporation recently posted impressive earnings, reporting $0.81 EPS and $5.65 billion in revenue for the quarter, exceeding analysts' expectations.
• The company declared a quarterly dividend of $0.165 per share, with a dividend yield of 0.6%, scheduled to be paid on October 8th.

HITE Hedge Asset Management LLC raised its position in Amphenol Corporation (NYSE:APH - Free Report) by 375.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,844 shares of the electronics maker's stock after buying an additional 66,202 shares during the quarter. HITE Hedge Asset Management LLC's holdings in Amphenol were worth $5,499,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of Amphenol by 114.0% in the fourth quarter. Brighton Jones LLC now owns 17,624 shares of the electronics maker's stock worth $1,224,000 after purchasing an additional 9,390 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Amphenol by 87.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker's stock valued at $701,000 after buying an additional 4,721 shares in the last quarter. NewEdge Advisors LLC raised its holdings in Amphenol by 2.7% during the 4th quarter. NewEdge Advisors LLC now owns 49,587 shares of the electronics maker's stock valued at $3,444,000 after acquiring an additional 1,297 shares during the period. Marshall Wace LLP boosted its holdings in shares of Amphenol by 163.2% in the fourth quarter. Marshall Wace LLP now owns 333,518 shares of the electronics maker's stock worth $23,163,000 after acquiring an additional 206,817 shares during the period. Finally, Freedom Investment Management Inc. bought a new stake in shares of Amphenol during the fourth quarter valued at about $288,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Amphenol Stock Down 1.4%

APH opened at $109.20 on Monday. The company has a market cap of $133.32 billion, a P/E ratio of 43.51, a P/E/G ratio of 1.75 and a beta of 1.13. Amphenol Corporation has a 12 month low of $56.45 and a 12 month high of $112.35. The business's 50-day moving average price is $100.89 and its 200-day moving average price is $82.36. 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 posted its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.15. The company had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. Amphenol's quarterly revenue was up 56.5% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, equities analysts expect that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have commented on APH shares. Truist Financial raised their price target on shares of Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Bank of America boosted their target price on Amphenol from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. KGI Securities started coverage on Amphenol in a report on Thursday, June 26th. They issued a "hold" rating on the stock. Citigroup upped their price objective on shares of Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Industrial Alliance Securities set a $115.00 target price on shares of Amphenol in a research report on Friday, July 11th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $104.92.

Insider Activity

In related news, VP Michael R. Ivas sold 40,000 shares of the company'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 value of $3,551,600.00. Following the transaction, the vice president directly owned 152,412 shares of the company's stock, valued at approximately $13,532,661.48. This represents a 20.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP David M. Silverman sold 100,000 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $89.09, for a total value of $8,909,000.00. Following the transaction, the vice president directly owned 12,500 shares in the company, valued at approximately $1,113,625. The trade was a 88.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 812,000 shares of company stock worth $77,703,320. 1.67% of the stock is currently owned by company 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.

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