Palisade Capital Management LP Has $42.97 Million Stock Position in Amphenol Corporation (NYSE:APH)

Palisade Capital Management LP increased its stake in Amphenol Corporation (NYSE:APH - Free Report) by 4.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 655,082 shares of the electronics maker's stock after purchasing an additional 27,508 shares during the quarter. Amphenol accounts for 1.2% of Palisade Capital Management LP's investment portfolio, making the stock its 11th largest position. Palisade Capital Management LP owned approximately 0.05% of Amphenol worth $42,967,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Rialto Wealth Management LLC acquired a new stake in shares of Amphenol in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. raised its stake in shares of Amphenol by 703.8% during the fourth quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 366 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Amphenol during the fourth quarter valued at approximately $44,000. Global X Japan Co. Ltd. acquired a new stake in Amphenol in the first quarter valued at $44,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in Amphenol in the fourth quarter valued at $48,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Amphenol Trading Up 0.9%

Shares of APH traded up $0.84 during midday trading on Friday, hitting $99.36. The stock had a trading volume of 3,180,786 shares, compared to its average volume of 7,643,084. The business has a 50-day simple moving average of $89.15 and a two-hundred day simple moving average of $75.27. The firm has a market cap of $120.19 billion, a P/E ratio of 48.23, a price-to-earnings-growth ratio of 2.27 and a beta of 1.13. The company has a current ratio of 1.99, a quick ratio of 1.36 and a debt-to-equity ratio of 0.66. Amphenol Corporation has a fifty-two week low of $54.77 and a fifty-two week high of $99.71.

Amphenol (NYSE:APH - Get Free Report) last released its earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.11. The business had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.20 billion. Amphenol had a net margin of 15.58% and a return on equity of 27.68%. The firm's quarterly revenue was up 47.7% compared to the same quarter last year. During the same period last year, the firm posted $0.40 earnings per share. As a group, equities analysts forecast that Amphenol Corporation will post 2.36 EPS for the current year.

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 17th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.66%. The ex-dividend date is Tuesday, June 17th. Amphenol's dividend payout ratio is currently 32.04%.

Insider Buying and Selling at Amphenol

In related news, VP Michael R. Ivas sold 40,000 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the completion of the sale, the vice president directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, VP David M. Silverman sold 100,000 shares of Amphenol stock in a transaction that occurred 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 completion of the sale, the vice president owned 12,500 shares of the company's stock, 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 a total of 3,764,500 shares of company stock valued at $294,839,785 in the last 90 days. Corporate insiders own 1.67% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on APH. JPMorgan Chase & Co. increased their target price on shares of Amphenol from $85.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday, April 24th. UBS Group increased their price objective on shares of Amphenol from $85.00 to $106.00 and gave the stock a "buy" rating in a report on Friday, May 30th. KGI Securities began coverage on shares of Amphenol in a report on Thursday, June 26th. They issued a "hold" rating on the stock. Wall Street Zen upgraded shares of Amphenol from a "hold" rating to a "buy" rating in a research report on Sunday, June 22nd. Finally, US Capital Advisors set a $85.00 target price on shares of Amphenol in a research report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

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.