Amphenol Corporation (NYSE:APH) Stock Position Reduced by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp has reduced its stake in Amphenol Corporation (NYSE:APH) by **33.2%**, selling **1,847,111 shares** and now holds approximately **3.7 million shares** worth around **$243.8 million**.
• Amphenol recently reported **earnings per share (EPS)** of **$0.81**, exceeding analysts' expectations of **$0.66**, and experienced a notable **56.5% increase** in revenue year-over-year.
• Research analysts have set a new **average price target** for Amphenol at **$102.23**, with **four analysts rating it as a hold** and **nine giving it a buy rating**.

Mackenzie Financial Corp lowered its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 33.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,717,141 shares of the electronics maker's stock after selling 1,847,111 shares during the quarter. Mackenzie Financial Corp owned 0.31% of Amphenol worth $243,807,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Bank of America Corp DE increased its holdings in Amphenol by 294.0% in the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock valued at $1,733,027,000 after buying an additional 18,619,417 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Amphenol by 36.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock worth $4,091,426,000 after purchasing an additional 15,837,407 shares during the last quarter. Wellington Management Group LLP boosted its position in Amphenol by 619.9% during the fourth quarter. Wellington Management Group LLP now owns 7,014,111 shares of the electronics maker's stock worth $487,130,000 after purchasing an additional 6,039,845 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Amphenol by 118.4% in the fourth quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker's stock valued at $503,975,000 after buying an additional 3,933,269 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Amphenol by 2.6% during the 4th quarter. FMR LLC now owns 104,250,575 shares of the electronics maker's stock worth $7,240,202,000 after buying an additional 2,643,752 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Amphenol Trading Up 1.9%

NYSE:APH traded up $1.99 during trading hours on Thursday, reaching $107.48. 9,200,503 shares of the company were exchanged, compared to its average volume of 8,520,263. Amphenol Corporation has a 52-week low of $54.77 and a 52-week high of $108.85. The stock has a 50 day simple moving average of $96.19 and a 200 day simple moving average of $79.12. The firm has a market cap of $131.22 billion, a price-to-earnings ratio of 42.78, a PEG ratio of 1.76 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.46.

Amphenol (NYSE:APH - Get Free Report) last announced 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 company had revenue of $5.65 billion during the quarter, compared to analyst estimates of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The firm's 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. As a group, analysts predict that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Announces Dividend

The firm also recently disclosed 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 0.61%. Amphenol's payout ratio is currently 26.29%.

Analysts Set New Price Targets

APH has been the subject of several recent research reports. Fox Advisors upgraded shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 target price for the company in a report on Thursday, April 24th. Industrial Alliance Securities set a $115.00 price objective on shares of Amphenol in a research note on Friday, July 11th. KGI Securities initiated coverage on Amphenol in a research note on Thursday, June 26th. They issued a "hold" rating on the stock. JPMorgan Chase & Co. raised their price target on Amphenol from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Finally, US Capital Advisors set a $85.00 price objective on Amphenol in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $102.23.

Insider Buying and Selling at Amphenol

In other news, VP Michael R. Ivas sold 40,000 shares of the stock in a transaction dated 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 completion of the sale, the vice president owned 152,412 shares in the company, valued at approximately $13,532,661.48. This trade represents a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William J. Doherty sold 160,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were 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. Insiders sold a total of 799,500 shares of company stock valued at $70,053,885 in the last quarter. 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.