Patton Fund Management Inc. reduced its stake in shares of Amphenol Co. (NYSE:APH - Free Report) by 23.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,589 shares of the electronics maker's stock after selling 13,983 shares during the period. Patton Fund Management Inc.'s holdings in Amphenol were worth $3,056,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Amphenol by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 152,127,847 shares of the electronics maker's stock worth $10,565,279,000 after purchasing an additional 2,108,578 shares in the last quarter. FMR LLC boosted its position 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 purchasing an additional 2,643,752 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 worth $4,091,426,000 after purchasing an additional 15,837,407 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Amphenol by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 25,325,653 shares of the electronics maker's stock worth $1,754,672,000 after purchasing an additional 659,560 shares in the last quarter. Finally, Bank of America Corp DE boosted its position in shares of 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 worth $1,733,027,000 after purchasing an additional 18,619,417 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on APH. Wall Street Zen downgraded Amphenol from a "buy" rating to a "hold" rating in a research note on Saturday. TD Securities lifted their price target on Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Robert W. Baird lifted their price target on Amphenol from $73.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. The Goldman Sachs Group lifted their price target on Amphenol from $90.00 to $102.00 and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Finally, Citigroup lifted their price target on Amphenol from $85.00 to $100.00 and gave the stock a "buy" rating in a research note on Tuesday, May 27th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.
Get Our Latest Report on APH
Insider Buying and Selling
In other Amphenol 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Luc Walter sold 286,000 shares of the company's stock in a transaction that occurred 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 now owns 451,790 shares of the company's stock, valued at approximately $41,307,159.70. This represents a 38.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,764,500 shares of company stock valued at $294,839,785. 1.67% of the stock is currently owned by corporate insiders.
Amphenol Trading Up 0.9%
NYSE APH opened at $93.32 on Tuesday. Amphenol Co. has a 12 month low of $54.77 and a 12 month high of $94.83. The company has a 50-day moving average of $80.99 and a 200-day moving average of $73.08. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 1.75. The company has a market cap of $112.88 billion, a P/E ratio of 48.73, a P/E/G ratio of 1.92 and a beta of 1.12.
Amphenol (NYSE:APH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $0.63 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.11. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the company posted $0.40 EPS. The company's quarterly revenue was up 47.7% compared to the same quarter last year. As a group, equities analysts predict that Amphenol Co. will post 2.36 earnings per share for the current year.
Amphenol Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 17th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, June 17th. Amphenol's dividend payout ratio (DPR) is presently 32.04%.
Amphenol Profile
(
Free Report)
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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