Nutshell Asset Management Ltd Acquires New Stake in Amphenol Corporation (NYSE:APH)

Key Points

• Nutshell Asset Management Ltd has invested approximately $1.25 million in Amphenol Corporation, acquiring 19,000 shares, which now represents 0.6% of its investment portfolio.
• Multiple institutional investors, including Vanguard and Goldman Sachs, have also increased their stakes in Amphenol, with institutional ownership now at 97.01% of the company's stock.
• Amphenol recently reported strong quarterly earnings, with earnings per share of $0.81, exceeding estimates, and announced a quarterly dividend of $0.165 per share, payable on October 8th.

Nutshell Asset Management Ltd acquired a new position in Amphenol Corporation (NYSE:APH - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 19,000 shares of the electronics maker's stock, valued at approximately $1,246,000. Amphenol comprises 0.6% of Nutshell Asset Management Ltd's investment portfolio, making the stock its 25th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hughes Financial Services LLC purchased a new stake in shares of Amphenol during the first quarter valued at approximately $25,000. Avalon Trust Co increased 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 acquiring an additional 232 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Amphenol during the first quarter valued at approximately $28,000. Global X Japan Co. Ltd. purchased a new stake in shares of Amphenol during the first quarter valued at approximately $44,000. Finally, Coppell Advisory Solutions LLC purchased a new stake in shares of Amphenol during the fourth quarter valued at approximately $48,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on APH shares. KGI Securities started coverage on Amphenol in a research report on Thursday, June 26th. They set a "hold" rating for the company. Wall Street Zen raised Amphenol from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 2nd. Evercore ISI increased their price target on Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Industrial Alliance Securities set a $115.00 price target on Amphenol in a research report on Friday, July 11th. Finally, Citigroup increased their price objective on Amphenol from $115.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $104.92.

Insider Buying and Selling

In other news, insider Luc Walter sold 286,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total value 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 $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael R. Ivas sold 40,000 shares of the firm's stock in a transaction 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 completion of the transaction, the vice president directly owned 152,412 shares of the company's stock, valued at $13,532,661.48. The trade was a 20.79% 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. Insiders own 1.67% of the company's stock.

Amphenol Stock Performance

NYSE APH traded up $1.46 on Friday, hitting $110.01. 5,052,387 shares of the stock traded hands, compared to its average volume of 9,351,925. Amphenol Corporation has a 12 month low of $56.45 and a 12 month high of $110.60. The business's fifty day moving average is $99.07 and its two-hundred day moving average is $80.97. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.46 and a current ratio of 2.02. The firm has a market capitalization of $134.31 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 1.79 and a beta of 1.13.

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

Amphenol Announces Dividend

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 issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Amphenol's dividend payout ratio (DPR) is presently 26.29%.

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.