ING Groep NV Lowers Holdings in Amphenol Corporation (NYSE:APH)

Key Points

• ING Groep NV reduced its stake in Amphenol Corporation by 51.7%, now holding 146,742 shares worth approximately $9.6 million after selling over 157,000 shares in the first quarter.
• Several hedge funds increased their positions in Amphenol, with institutional investors currently owning nearly 97.01% of the stock.
• Amphenol announced a quarterly dividend of $0.165 per share, with a payout ratio of 26.29%, to be paid on October 8th to shareholders on record as of September 16th.

ING Groep NV lessened its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 51.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,742 shares of the electronics maker's stock after selling 157,240 shares during the period. ING Groep NV's holdings in Amphenol were worth $9,625,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hughes Financial Services LLC purchased a new position in shares of Amphenol during the first quarter valued at approximately $25,000. Avalon Trust Co boosted its position in shares of Amphenol by 133.3% during the first quarter. Avalon Trust Co now owns 406 shares of the electronics maker's stock valued at $27,000 after buying an additional 232 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of Amphenol during the first quarter valued at approximately $28,000. Global X Japan Co. Ltd. purchased a new position in shares of Amphenol during the first quarter valued at approximately $44,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Amphenol during the fourth quarter valued at approximately $48,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insider Activity at Amphenol

In other news, insider Luc Walter sold 286,000 shares of the business's stock in a transaction 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 sale, the insider directly owned 451,790 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, VP David M. Silverman sold 100,000 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the sale, the vice president directly owned 12,500 shares in the company, valued at $1,113,625. This trade represents a 88.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 586,000 shares of company stock valued at $52,935,980 over the last three months. 1.67% of the stock is owned by corporate insiders.

Amphenol Stock Up 1.3%

Shares of APH stock traded up $1.46 during trading hours on Friday, reaching $110.01. 5,052,387 shares of the company's stock were exchanged, compared to its average volume of 9,351,925. The stock's 50 day moving average is $99.07 and its 200-day moving average is $80.95. The company has a market cap of $134.31 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 1.77 and a beta of 1.13. 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 Corporation has a fifty-two week low of $56.45 and a fifty-two week high of $110.60.

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. The business had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The business's quarterly revenue was up 56.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. Analysts predict that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

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

Analyst Upgrades and Downgrades

APH has been the subject of several research analyst reports. TD Securities lifted their price target 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. Citigroup lifted their price target on shares of Amphenol from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Industrial Alliance Securities set a $115.00 price target on shares of Amphenol in a research note on Friday, July 11th. Fox Advisors raised shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target for the company in a research note on Thursday, April 24th. Finally, Bank of America lifted their price target on shares of Amphenol from $110.00 to $120.00 and gave the company a "neutral" rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.92.

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.