Mitsubishi UFJ Asset Management Co. Ltd. Acquires 237,451 Shares of Amphenol Corporation (NYSE:APH)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Amphenol Corporation by 11.9% during the first quarter, owning approximately 0.18% of the company, valued at $146,340,000.
• Amphenol reported $0.81 earnings per share for the last quarter, exceeding analysts' expectations of $0.66, with revenue increasing 56.5% year-over-year to $5.65 billion.
• The company announced a quarterly dividend of $0.165 per share, reflecting an annualized yield of 0.6% and a dividend payout ratio of 26.29%.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 11.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,230,780 shares of the electronics maker's stock after purchasing an additional 237,451 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Amphenol worth $146,340,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in APH. Bank of America Corp DE raised its stake in Amphenol by 294.0% during the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Amphenol by 36.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock valued at $4,091,426,000 after buying an additional 15,837,407 shares during the last quarter. Janus Henderson Group PLC raised its stake in Amphenol by 118.4% during the 4th 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 during the last quarter. Mackenzie Financial Corp raised its stake in Amphenol by 108.9% during the 4th quarter. Mackenzie Financial Corp now owns 5,564,252 shares of the electronics maker's stock valued at $386,437,000 after buying an additional 2,900,024 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Amphenol by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 154,998,780 shares of the electronics maker's stock valued at $10,166,370,000 after buying an additional 2,870,933 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

APH has been the subject of a number of research reports. The Goldman Sachs Group reiterated a "buy" rating on shares of Amphenol in a research note on Friday, July 11th. Citigroup boosted their price objective on shares of Amphenol from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Industrial Alliance Securities set a $115.00 price objective on shares of Amphenol in a research report 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 objective for the company in a research report on Thursday, April 24th. Finally, Evercore ISI boosted their price objective on shares of Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, Amphenol presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.92.

Insider Activity at Amphenol

In other Amphenol 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 value of $26,148,980.00. Following the sale, the insider owned 451,790 shares in the company, valued at $41,307,159.70. The trade was a 38.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David M. Silverman sold 100,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the completion of the sale, the vice president owned 12,500 shares in the company, valued at approximately $1,113,625. The trade was a 88.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 586,000 shares of company stock worth $52,935,980 in the last quarter. 1.67% of the stock is owned by company insiders.

Amphenol Price Performance

Amphenol stock traded up $0.78 during mid-day trading on Tuesday, hitting $110.59. The stock had a trading volume of 2,690,998 shares, compared to its average volume of 8,468,214. The firm has a market capitalization of $135.02 billion, a P/E ratio of 44.13, a P/E/G ratio of 1.79 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. The firm's 50 day moving average is $99.46 and its 200 day moving average is $81.21. Amphenol Corporation has a one year low of $56.45 and a one year high of $111.03.

Amphenol (NYSE:APH - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share 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 the consensus estimate of $5.01 billion. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. Amphenol's quarterly revenue was up 56.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, sell-side analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.6%. Amphenol's payout ratio is presently 26.29%.

Amphenol Company 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.