Norges Bank Buys Shares of 10,876,298 Amphenol Co. (NYSE:APH)

Norges Bank purchased a new stake in shares of Amphenol Co. (NYSE:APH - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,876,298 shares of the electronics maker's stock, valued at approximately $1,078,167,000. Norges Bank owned 1.82% of Amphenol as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Benjamin F. Edwards & Company Inc. boosted its stake in Amphenol by 228.5% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 110,298 shares of the electronics maker's stock valued at $10,934,000 after purchasing an additional 76,724 shares during the period. Louisiana State Employees Retirement System acquired a new position in Amphenol during the 4th quarter valued at about $3,589,000. West Coast Financial LLC boosted its stake in Amphenol by 65.0% during the 4th quarter. West Coast Financial LLC now owns 128,911 shares of the electronics maker's stock valued at $12,779,000 after purchasing an additional 50,778 shares during the period. Cerity Partners LLC boosted its stake in Amphenol by 63.4% during the 4th quarter. Cerity Partners LLC now owns 38,264 shares of the electronics maker's stock valued at $3,793,000 after purchasing an additional 14,843 shares during the period. Finally, Compagnie Lombard Odier SCmA acquired a new position in Amphenol during the 4th quarter valued at about $2,875,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Analysts Set New Price Targets

APH has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their target price on shares of Amphenol from $107.00 to $119.00 and gave the company a "buy" rating in a research note on Thursday, January 25th. Robert W. Baird increased their price objective on shares of Amphenol from $123.00 to $124.00 and gave the company an "outperform" rating in a report on Thursday, April 25th. Jefferies Financial Group assumed coverage on shares of Amphenol in a report on Tuesday, April 9th. They issued a "hold" rating and a $125.00 price objective for the company. Bank of America increased their price objective on shares of Amphenol from $137.00 to $144.00 and gave the company a "buy" rating in a report on Friday. Finally, Citigroup increased their price objective on shares of Amphenol from $117.00 to $135.00 and gave the company a "buy" rating in a report on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $124.45.

Amphenol Price Performance

APH stock traded up $0.20 on Friday, hitting $131.91. 4,506,314 shares of the company's stock traded hands, compared to its average volume of 3,539,380. The stock has a fifty day moving average of $117.27 and a 200-day moving average of $104.66. The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.41. The stock has a market cap of $79.23 billion, a price-to-earnings ratio of 40.34, a P/E/G ratio of 3.33 and a beta of 1.27. Amphenol Co. has a 1-year low of $72.77 and a 1-year high of $133.90.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings results on Wednesday, April 24th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.07. Amphenol had a net margin of 15.87% and a return on equity of 23.85%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business earned $0.69 earnings per share. The firm's revenue was up 9.5% compared to the same quarter last year. On average, analysts forecast that Amphenol Co. will post 3.36 EPS for the current fiscal year.

Amphenol Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 10th. Stockholders of record on Tuesday, June 18th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, June 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.67%. Amphenol's dividend payout ratio is 26.91%.

Amphenol declared that its board has authorized a stock buyback plan on Wednesday, April 24th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to buy up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Activity at Amphenol

In other Amphenol news, insider Peter Straub sold 20,000 shares of the firm's stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.80% of the stock is owned by insiders.

Amphenol 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.

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