Vanguard Group Inc. Acquires 2,870,933 Shares of Amphenol Corporation (NYSE:APH)

Key Points

• Vanguard Group Inc. increased its stake in Amphenol Corporation by 1.9%, now owning approximately 12.81% of the company, valued at over $10 billion.
• Amphenol's recent quarterly earnings reported an EPS of $0.81, surpassing the consensus estimate of $0.66, and a revenue of $5.65 billion, significantly higher than expected.
• The company declared a quarterly dividend of $0.165, with an ex-dividend date set for September 16th, indicating a commitment to returning value to shareholders.

Vanguard Group Inc. increased its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 154,998,780 shares of the electronics maker's stock after buying an additional 2,870,933 shares during the quarter. Vanguard Group Inc. owned about 12.81% of Amphenol worth $10,166,370,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Amphenol by 114.0% in the fourth quarter. Brighton Jones LLC now owns 17,624 shares of the electronics maker's stock worth $1,224,000 after purchasing an additional 9,390 shares during the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Amphenol by 87.9% in the fourth quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker's stock valued at $701,000 after acquiring an additional 4,721 shares in the last quarter. World Investment Advisors bought a new position in shares of Amphenol in the fourth quarter valued at approximately $233,000. ExodusPoint Capital Management LP bought a new position in shares of Amphenol in the fourth quarter valued at approximately $1,830,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Amphenol by 5.1% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 4,709 shares of the electronics maker's stock valued at $327,000 after acquiring an additional 227 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Trading Up 1.3%

NYSE:APH traded up $1.46 during mid-day trading on Friday, reaching $110.01. 5,052,387 shares of the company's stock traded hands, compared to its average volume of 9,351,925. Amphenol Corporation has a 12-month low of $56.45 and a 12-month high of $110.60. The firm has a market capitalization of $134.31 billion, a price-to-earnings ratio of 43.83, a PEG ratio of 1.79 and a beta of 1.13. 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 50 day moving average price of $99.07 and a 200-day moving average price of $80.97.

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

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Tuesday, September 16th will be given 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 payout ratio is currently 26.29%.

Insider Buying and Selling

In other 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 sale, the vice president directly owned 12,500 shares of the company's stock, valued at $1,113,625. The trade was a 88.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William J. Doherty sold 160,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $89.54, for a total value of $14,326,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 586,000 shares of company stock valued at $52,935,980. 1.67% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APH shares. Truist Financial upped their target price on Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Citigroup raised their price target on Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. TD Securities raised their price target on Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Fox Advisors upgraded Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective on the stock in a report on Thursday, April 24th. Finally, US Capital Advisors set a $85.00 price objective on Amphenol in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Amphenol presently has a consensus rating of "Moderate Buy" and a consensus target price of $104.92.

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.