Oak Ridge Investments LLC trimmed its stake in Amphenol Co. (NYSE:APH) by 3.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,646 shares of the electronics maker’s stock after selling 1,325 shares during the quarter. Oak Ridge Investments LLC’s holdings in Amphenol were worth $3,163,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Voya Investment Management LLC lifted its position in shares of Amphenol by 1,165.1% in the second quarter. Voya Investment Management LLC now owns 2,659,699 shares of the electronics maker’s stock valued at $231,792,000 after buying an additional 2,449,464 shares during the last quarter. FMR LLC lifted its position in shares of Amphenol by 1.7% in the second quarter. FMR LLC now owns 38,544,742 shares of the electronics maker’s stock valued at $3,359,175,000 after buying an additional 660,569 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Amphenol by 5.8% in the third quarter. JPMorgan Chase & Co. now owns 7,586,588 shares of the electronics maker’s stock valued at $713,292,000 after buying an additional 415,589 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Amphenol in the second quarter valued at approximately $33,726,000. Finally, Select Equity Group L.P. lifted its position in shares of Amphenol by 12.8% in the second quarter. Select Equity Group L.P. now owns 2,948,900 shares of the electronics maker’s stock valued at $256,997,000 after buying an additional 335,554 shares during the last quarter. Hedge funds and other institutional investors own 94.08% of the company’s stock.
A number of analysts have recently issued reports on APH shares. Morgan Stanley cut their price objective on Amphenol from $102.00 to $100.00 and set an “overweight” rating for the company in a research report on Wednesday, October 3rd. Zacks Investment Research cut Amphenol from a “buy” rating to a “hold” rating in a research report on Monday, July 23rd. ValuEngine cut Amphenol from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Goldman Sachs Group raised Amphenol from a “neutral” rating to a “buy” rating and set a $108.00 price objective for the company in a research report on Tuesday, October 9th. Finally, Stifel Nicolaus raised their price objective on Amphenol from $90.00 to $92.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $98.00.
Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, October 24th. The electronics maker reported $0.99 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.06. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Amphenol had a return on equity of 28.57% and a net margin of 9.64%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period last year, the firm posted $0.83 EPS. As a group, equities research analysts forecast that Amphenol Co. will post 3.7 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 8th. Investors of record on Monday, December 17th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.92 annualized dividend and a yield of 1.05%. Amphenol’s payout ratio is currently 29.49%.
In related news, VP Richard Gu sold 2,000 shares of Amphenol stock in a transaction that occurred on Friday, November 2nd. The stock was sold at an average price of $87.00, for a total transaction of $174,000.00. Following the completion of the sale, the vice president now directly owns 3,000 shares of the company’s stock, valued at approximately $261,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP David M. Silverman sold 7,500 shares of Amphenol stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $95.51, for a total value of $716,325.00. Following the sale, the vice president now directly owns 7,500 shares of the company’s stock, valued at $716,325. The disclosure for this sale can be found here. Company insiders own 2.34% of the company’s stock.
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Amphenol Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of 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, bus bars, and distribution systems; and other connectors.
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