Nuveen LLC Invests $476.84 Million in Amphenol Corporation (NYSE:APH)

Key Points

• Nuveen LLC invested $476.84 million in Amphenol Corporation, acquiring 7,270,046 shares in the first quarter, representing 0.60% of the company's stock.
• A number of institutional investors have significantly increased their stakes in Amphenol, with Brighton Jones LLC and Scotia Capital Inc. growing their investments by 114.0% and 128.2%, respectively.
• Amphenol reported earnings of $0.81 per share for the last quarter, exceeding estimates, with a year-over-year revenue increase of 56.5%.

Nuveen LLC acquired a new position in shares of Amphenol Corporation (NYSE:APH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,270,046 shares of the electronics maker's stock, valued at approximately $476,842,000. Nuveen LLC owned 0.60% of Amphenol as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of APH. Brighton Jones LLC grew its stake in Amphenol by 114.0% during the fourth quarter. Brighton Jones LLC now owns 17,624 shares of the electronics maker's stock worth $1,224,000 after buying an additional 9,390 shares in the last quarter. Revolve Wealth Partners LLC grew its stake in Amphenol by 87.9% during the fourth quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker's stock worth $701,000 after buying an additional 4,721 shares in the last quarter. Scotia Capital Inc. grew its stake in Amphenol by 128.2% during the fourth quarter. Scotia Capital Inc. now owns 25,984 shares of the electronics maker's stock worth $1,805,000 after buying an additional 14,599 shares in the last quarter. Sterling Capital Management LLC grew its stake in Amphenol by 4.7% during the fourth quarter. Sterling Capital Management LLC now owns 30,785 shares of the electronics maker's stock worth $2,138,000 after buying an additional 1,380 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in Amphenol by 38.7% during the fourth quarter. Rockefeller Capital Management L.P. now owns 294,987 shares of the electronics maker's stock worth $20,545,000 after buying an additional 82,375 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on APH shares. Bank of America increased their price objective on shares of Amphenol from $110.00 to $120.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 5th. KGI Securities began coverage on Amphenol in a research note on Thursday, June 26th. They set a "hold" rating for the company. Fox Advisors raised Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 target price for the company in a research note on Thursday, April 24th. Robert W. Baird boosted their target price on Amphenol from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Wall Street Zen downgraded Amphenol from a "strong-buy" rating to a "buy" rating in a research note on Sunday. 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, Amphenol currently has an average rating of "Moderate Buy" and a consensus price target of $104.92.

Insider Buying and Selling

In related news, insider William J. Doherty sold 160,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $89.54, for a total value of $14,326,400.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Luc Walter sold 286,000 shares of the company's stock in a transaction that occurred 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 586,000 shares of company stock valued at $52,935,980. Insiders own 1.67% of the company's stock.

Amphenol Stock Performance

Amphenol stock opened at $110.01 on Monday. The business has a 50 day moving average of $99.07 and a 200-day moving average of $80.99. Amphenol Corporation has a 1 year low of $56.45 and a 1 year high of $110.60. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.46. The company has a market capitalization of $134.31 billion, a P/E ratio of 43.83, a P/E/G ratio of 1.79 and a beta of 1.13.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.15. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The company had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The firm's revenue was up 56.5% compared to the same quarter last year. On average, equities research analysts predict that Amphenol Corporation will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Tuesday, September 16th will be issued 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 dividend payout ratio is presently 26.29%.

About Amphenol

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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