Alta Capital Management LLC cut its position in Amphenol Corp. (NYSE:APH) by 4.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 778,757 shares of the company’s stock after selling 37,491 shares during the period. Amphenol Corp. makes up approximately 3.1% of Alta Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Alta Capital Management LLC’s holdings in Amphenol Corp. were worth $50,556,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of APH. Howland Capital Management LLC raised its stake in shares of Amphenol Corp. by 0.8% in the third quarter. Howland Capital Management LLC now owns 167,005 shares of the company’s stock worth $10,842,000 after buying an additional 1,245 shares in the last quarter. MSI Financial Services Inc raised its stake in shares of Amphenol Corp. by 10.5% in the third quarter. MSI Financial Services Inc now owns 9,473 shares of the company’s stock worth $615,000 after buying an additional 897 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Amphenol Corp. by 1.6% in the third quarter. Nisa Investment Advisors LLC now owns 193,835 shares of the company’s stock worth $12,584,000 after buying an additional 3,000 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of Amphenol Corp. by 3.1% in the third quarter. Capstone Asset Management Co. now owns 31,098 shares of the company’s stock worth $2,019,000 after buying an additional 940 shares in the last quarter. Finally, Creative Planning raised its stake in shares of Amphenol Corp. by 670.3% in the third quarter. Creative Planning now owns 13,527 shares of the company’s stock worth $878,000 after buying an additional 11,771 shares in the last quarter. 96.32% of the stock is owned by institutional investors.
Shares of Amphenol Corp. (NYSE:APH) traded down 0.04% during mid-day trading on Monday, reaching $68.64. 810,969 shares of the company’s stock traded hands. The company has a 50 day moving average of $65.91 and a 200 day moving average of $61.34. The company has a market cap of $21.17 billion, a price-to-earnings ratio of 27.57 and a beta of 0.98. Amphenol Corp. has a 12 month low of $44.50 and a 12 month high of $68.80.
Amphenol Corp. (NYSE:APH) last announced its quarterly earnings data on Wednesday, October 19th. The company reported $0.73 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.05. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.58 billion. Amphenol Corp. had a return on equity of 23.48% and a net margin of 12.98%. Amphenol Corp.’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. Analysts expect that Amphenol Corp. will post $2.70 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Tuesday, December 13th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Amphenol Corp.’s previous quarterly dividend of $0.14. Amphenol Corp.’s dividend payout ratio (DPR) is currently 22.49%.
A number of brokerages have recently weighed in on APH. RBC Capital Markets reaffirmed a “top pick” rating and issued a $69.00 price target (up from $68.00) on shares of Amphenol Corp. in a research note on Saturday, October 22nd. Royal Bank Of Canada boosted their target price on shares of Amphenol Corp. from $68.00 to $69.00 and gave the stock a “top pick” rating in a report on Thursday, October 20th. Zacks Investment Research downgraded shares of Amphenol Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, September 20th. Finally, Goldman Sachs Group Inc. upgraded shares of Amphenol Corp. from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $70.00 in a report on Tuesday, September 20th. Five research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $69.11.
In related news, VP Edward C. Wetmore sold 84,000 shares of the firm’s stock in a transaction dated Friday, October 21st. The stock was sold at an average price of $66.11, for a total transaction of $5,553,240.00. Following the transaction, the vice president now directly owns 90,784 shares of the company’s stock, valued at approximately $6,001,730.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Richard Adam Norwitt sold 295,000 shares of the firm’s stock in a transaction dated Monday, October 24th. The shares were sold at an average price of $66.11, for a total value of $19,502,450.00. Following the transaction, the chief executive officer now directly owns 304,992 shares in the company, valued at $20,163,021.12. The disclosure for this sale can be found here. Corporate insiders own 2.92% of the company’s stock.
Amphenol Corp. Company Profile
Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and coaxial and specialty cable. The Company operates through two segments: Interconnect Products and Assemblies, and Cable Products and Solutions.