US Bancorp DE Decreases Stake in Amphenol Corporation (NYSE:APH)

Key Points

• US Bancorp DE has reduced its stake in Amphenol Corporation by 1.8%, selling 13,418 shares and now holds approximately 0.06% of the company valued at $47.27 million.
• Several institutional investors have increased their holdings in Amphenol, with Bank of America raising its stake by 294% in the fourth quarter.
• Amphenol recently reported $5.65 billion in revenue for the quarter, significantly exceeding estimates, and plans to pay a quarterly dividend of $0.165 per share on October 8th.

US Bancorp DE decreased its position in Amphenol Corporation (NYSE:APH - Free Report) by 1.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 720,680 shares of the electronics maker's stock after selling 13,418 shares during the period. US Bancorp DE owned approximately 0.06% of Amphenol worth $47,270,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Forum Financial Management LP raised its position in Amphenol by 1.9% during the first quarter. Forum Financial Management LP now owns 6,681 shares of the electronics maker's stock valued at $438,000 after purchasing an additional 126 shares during the period. FourThought Financial Partners LLC boosted its position in Amphenol by 4.1% during the first quarter. FourThought Financial Partners LLC now owns 3,525 shares of the electronics maker's stock valued at $231,000 after purchasing an additional 139 shares in the last quarter. Gallacher Capital Management LLC boosted its holdings in Amphenol by 4.6% in the first quarter. Gallacher Capital Management LLC now owns 3,197 shares of the electronics maker's stock worth $210,000 after acquiring an additional 142 shares in the last quarter. Adell Harriman & Carpenter Inc. increased its holdings in Amphenol by 2.5% in the 1st quarter. Adell Harriman & Carpenter Inc. now owns 5,936 shares of the electronics maker's stock worth $389,000 after buying an additional 143 shares during the period. Finally, Fullcircle Wealth LLC grew its holdings in Amphenol by 1.3% during the first quarter. Fullcircle Wealth LLC now owns 11,806 shares of the electronics maker's stock worth $774,000 after acquiring an additional 151 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Amphenol Price Performance

APH traded up $4.22 during midday trading on Monday, reaching $108.53. 8,990,894 shares of the company's stock were exchanged, compared to its average volume of 9,307,081. The firm has a market capitalization of $132.51 billion, a price-to-earnings ratio of 43.24, a price-to-earnings-growth ratio of 1.74 and a beta of 1.13. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. Amphenol Corporation has a one year low of $54.77 and a one year high of $108.85. The business has a 50-day simple moving average of $96.99 and a two-hundred day simple moving average of $79.75.

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

Amphenol Announces Dividend

The company also recently announced 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 is presently 26.29%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on APH. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Amphenol in a research note on Friday, July 11th. Fox Advisors raised Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective for the company in a research report on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on Amphenol from $120.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 24th. Wall Street Zen raised shares of Amphenol from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Finally, TD Securities raised their price target on Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amphenol presently has a consensus rating of "Moderate Buy" and an average target price of $102.23.

Insider Activity

In related news, VP David M. Silverman sold 100,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $89.09, for a total value of $8,909,000.00. Following the completion of the sale, the vice president directly owned 12,500 shares in the company, valued at approximately $1,113,625. The trade was a 88.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider William J. Doherty sold 160,000 shares of the business's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $89.54, for a total value of $14,326,400.00. The disclosure for this sale can be found here. Insiders sold a total of 586,000 shares of company stock valued at $52,935,980 in the last 90 days. 1.67% of the stock is owned by company insiders.

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.