Cidel Asset Management Inc. cut its stake in Amphenol Co. (NYSE:APH) by 62.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,566 shares of the electronics maker’s stock after selling 116,816 shares during the period. Cidel Asset Management Inc.’s holdings in Amphenol were worth $20,021,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Comerica Securities Inc. raised its position in Amphenol by 3.4% during the 4th quarter. Comerica Securities Inc. now owns 5,227 shares of the electronics maker’s stock worth $425,000 after buying an additional 173 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Amphenol by 14.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,023,060 shares of the electronics maker’s stock worth $82,888,000 after buying an additional 127,639 shares during the last quarter. Geode Capital Management LLC raised its position in Amphenol by 8.5% during the 4th quarter. Geode Capital Management LLC now owns 4,289,635 shares of the electronics maker’s stock worth $346,993,000 after buying an additional 337,756 shares during the last quarter. Millennium Management LLC purchased a new position in Amphenol during the 4th quarter worth approximately $454,000. Finally, Pennsylvania Trust Co purchased a new position in Amphenol during the 1st quarter worth approximately $200,000. Institutional investors own 93.74% of the company’s stock.
APH traded up $0.36 on Friday, hitting $94.31. 3,867 shares of the company’s stock were exchanged, compared to its average volume of 1,141,845. Amphenol Co. has a fifty-two week low of $74.95 and a fifty-two week high of $105.51. The company has a current ratio of 2.06, a quick ratio of 1.44 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average price of $88.64 and a 200-day moving average price of $94.23. The stock has a market cap of $26.65 billion, a price-to-earnings ratio of 25.03, a P/E/G ratio of 2.61 and a beta of 1.03.
Amphenol (NYSE:APH) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.93 by ($0.01). The business had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2.01 billion. Amphenol had a return on equity of 29.08% and a net margin of 14.54%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm earned $0.90 EPS. On average, equities analysts predict that Amphenol Co. will post 3.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.25 per share. This is a boost from Amphenol’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, September 16th. This represents a $1.00 annualized dividend and a dividend yield of 1.06%. Amphenol’s payout ratio is presently 24.40%.
APH has been the subject of a number of recent research reports. Longbow Research lowered shares of Amphenol from a “buy” rating to a “neutral” rating and set a $94.30 price target for the company. in a research report on Monday, June 17th. Wells Fargo & Co cut their price target on shares of Amphenol from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. ValuEngine lowered shares of Amphenol from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Evercore ISI initiated coverage on shares of Amphenol in a report on Wednesday, June 5th. They issued an “outperform” rating and a $102.00 price target for the company. Finally, Morgan Stanley lowered their target price on shares of Amphenol from $108.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $104.41.
Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, busbars, and distribution systems; and other connectors.
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