ING Groep NV increased its holdings in shares of Amphenol Co. (NYSE:APH) by 99.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,670 shares of the electronics maker’s stock after purchasing an additional 19,827 shares during the period. ING Groep NV’s holdings in Amphenol were worth $2,617,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Amphenol by 100.6% during the first quarter. BlackRock Inc. now owns 45,846,324 shares of the electronics maker’s stock worth $3,024,481,000 after acquiring an additional 22,991,845 shares during the period. Alliancebernstein L.P. grew its position in shares of Amphenol by 106.2% in the first quarter. Alliancebernstein L.P. now owns 17,332,585 shares of the electronics maker’s stock valued at $1,143,431,000 after purchasing an additional 8,925,307 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Amphenol by 2.4% during the fourth quarter. Bank of New York Mellon Corp now owns 14,578,379 shares of the electronics maker’s stock valued at $1,906,415,000 after buying an additional 340,732 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its stake in Amphenol by 104.9% during the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 12,653,000 shares of the electronics maker’s stock valued at $835,478,000 after buying an additional 6,476,500 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in Amphenol by 8.7% during the fourth quarter. JPMorgan Chase & Co. now owns 8,381,009 shares of the electronics maker’s stock worth $1,095,985,000 after purchasing an additional 670,488 shares during the last quarter. 92.83% of the stock is owned by institutional investors and hedge funds.
NYSE APH opened at $68.27 on Friday. The firm’s fifty day simple moving average is $67.40. The firm has a market capitalization of $40.80 billion, a P/E ratio of 32.67, a PEG ratio of 2.52 and a beta of 1.24. Amphenol Co. has a 1 year low of $45.90 and a 1 year high of $69.62. The company has a quick ratio of 1.81, a current ratio of 2.43 and a debt-to-equity ratio of 0.74.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 14th. Stockholders of record on Tuesday, June 22nd will be issued a $0.145 dividend. The ex-dividend date of this dividend is Monday, June 21st. This represents a $0.58 annualized dividend and a dividend yield of 0.85%. Amphenol’s dividend payout ratio is currently 31.02%.
In other Amphenol news, VP Richard Gu sold 60,000 shares of the firm’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $68.01, for a total transaction of $4,080,600.00. Following the transaction, the vice president now directly owns 62,000 shares of the company’s stock, valued at approximately $4,216,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jean-Luc Gavelle sold 150,000 shares of the firm’s stock in a transaction on Friday, May 21st. The stock was sold at an average price of $66.10, for a total transaction of $9,915,000.00. Following the transaction, the senior vice president now directly owns 150,000 shares in the company, valued at $9,915,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 769,133 shares of company stock worth $51,217,363. 2.50% of the stock is owned by company insiders.
A number of research firms have recently weighed in on APH. Morgan Stanley boosted their target price on Amphenol from $66.00 to $70.00 and gave the company an “equal weight” rating in a research note on Thursday, April 29th. Evercore ISI reiterated a “buy” rating and set a $77.00 target price on shares of Amphenol in a report on Tuesday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price target on Amphenol from $70.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, April 29th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $65.33.
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 in 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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