The Manufacturers Life Insurance Company Sells 437,582 Shares of Amphenol Corporation $APH

Key Points

• The Manufacturers Life Insurance Company reduced its Amphenol stake by 36.3%, selling 437,582 shares and retaining 766,770 shares valued at approximately $96.8 million. Institutional investors collectively own 97.01% of the company.
• Analysts remain broadly bullish on Amphenol, with a consensus “Buy” rating and an average price target of $186. Recent target increases include JPMorgan’s move to $200 and Seaport Research Partners’ $215 target.
• Amphenol exceeded quarterly expectations, reporting $1.06 in EPS versus the $0.95 consensus and $7.62 billion in revenue, up 58.4% year over year. The company also declared a quarterly dividend of $0.25 per share, representing a 0.7% yield.

The Manufacturers Life Insurance Company trimmed its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 36.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 766,770 shares of the electronics maker's stock after selling 437,582 shares during the period. The Manufacturers Life Insurance Company owned 0.06% of Amphenol worth $96,844,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in APH. Brighton Jones LLC raised its holdings in Amphenol by 114.0% in the 4th quarter. Brighton Jones LLC now owns 17,624 shares of the electronics maker's stock valued at $1,224,000 after acquiring an additional 9,390 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Amphenol by 87.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker's stock worth $701,000 after purchasing an additional 4,721 shares in the last quarter. Bison Wealth LLC grew its holdings in shares of Amphenol by 8.3% during the 4th quarter. Bison Wealth LLC now owns 8,042 shares of the electronics maker's stock worth $559,000 after purchasing an additional 618 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Amphenol by 55.4% in the second quarter. NewEdge Advisors LLC now owns 62,946 shares of the electronics maker's stock worth $6,216,000 after purchasing an additional 22,434 shares during the period. Finally, Main Street Financial Solutions LLC increased its position in shares of Amphenol by 15.5% in the second quarter. Main Street Financial Solutions LLC now owns 4,745 shares of the electronics maker's stock worth $469,000 after purchasing an additional 638 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

APH has been the subject of several recent analyst reports. Rothschild & Co Redburn upped their price objective on shares of Amphenol from $160.00 to $172.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Seaport Research Partners restated a "buy" rating and issued a $215.00 target price on shares of Amphenol in a research report on Thursday, April 30th. Robert W. Baird set a $177.00 price target on shares of Amphenol in a report on Thursday, April 30th. Evercore reiterated an "outperform" rating on shares of Amphenol in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amphenol from $190.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $186.00.

Insider Transactions at Amphenol

In related news, CEO Richard Adam Norwitt sold 61,072 shares of the company's stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $143.90, for a total transaction of $8,788,260.80. Following the completion of the transaction, the chief executive officer directly owned 1,927,507 shares in the company, valued at $277,368,257.30. This represents a 3.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders have sold 130,775 shares of company stock worth $18,709,350. 1.42% of the stock is owned by corporate insiders.

Amphenol Stock Performance

NYSE:APH opened at $143.82 on Wednesday. Amphenol Corporation has a twelve month low of $102.76 and a twelve month high of $178.52. The company has a quick ratio of 1.26, a current ratio of 1.71 and a debt-to-equity ratio of 1.18. The stock's 50-day simple moving average is $153.78 and its 200 day simple moving average is $144.78. The firm has a market capitalization of $176.93 billion, a PE ratio of 41.33, a price-to-earnings-growth ratio of 1.28 and a beta of 1.24.

Amphenol (NYSE:APH - Get Free Report) last issued its earnings results on Wednesday, April 29th. The electronics maker reported $1.06 EPS for the quarter, topping the consensus estimate of $0.95 by $0.11. The firm had revenue of $7.62 billion during the quarter, compared to the consensus estimate of $7.08 billion. Amphenol had a return on equity of 37.44% and a net margin of 17.24%.The business's quarterly revenue was up 58.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. On average, analysts anticipate that Amphenol Corporation will post 4.87 EPS for the current fiscal year.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 23rd were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, June 23rd. This represents a $1.00 annualized dividend and a dividend yield of 0.7%. Amphenol's payout ratio is 28.74%.

Amphenol Profile

Amphenol Corporation NYSE: APH is a leading global manufacturer of electronic and fiber optic connectors, interconnect systems, and related components. The company designs, engineers and produces a broad range of products including electrical connectors, cable assemblies, fiber optic solutions, sensors, antennas and electromechanical devices used to transfer power, signal and data across complex systems. Its product portfolio spans ruggedized connectors for harsh environments to high-speed solutions for data centers and telecommunications networks.

Amphenol serves a diverse set of end markets, including automotive, broadband and telecom, data communications, mobile devices, industrial, energy, and military/aerospace.

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