Parsons Capital Management Inc. RI Decreases Stock Position in Amphenol Co. (NYSE:APH)

Parsons Capital Management Inc. RI trimmed its position in shares of Amphenol Co. (NYSE:APH) by 38.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,250 shares of the electronics maker’s stock after selling 2,050 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Amphenol were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Tacita Capital Inc raised its position in Amphenol by 328.9% in the 4th quarter. Tacita Capital Inc now owns 386 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 296 shares during the period. Sierra Ocean LLC bought a new position in shares of Amphenol during the fourth quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new stake in shares of Amphenol in the fourth quarter worth approximately $28,000. Rakuten Securities Inc. lifted its stake in shares of Amphenol by 703.8% during the 4th quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 366 shares during the last quarter. Finally, OFI Invest Asset Management purchased a new position in Amphenol during the 4th quarter valued at $44,000. Institutional investors own 97.01% of the company’s stock.

Insider Activity

In related news, insider William J. Doherty sold 126,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.28, for a total transaction of $10,115,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Adam Norwitt sold 2,000,000 shares of Amphenol stock in a transaction on Friday, April 25th. The stock was sold at an average price of $75.73, for a total transaction of $151,460,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,002,507 shares in the company, valued at $151,649,855.11. This represents a 49.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,764,500 shares of company stock worth $294,839,785. Corporate insiders own 1.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on APH. Robert W. Baird upped their price objective on Amphenol from $73.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, April 24th. TD Securities upped their price target on shares of Amphenol from $63.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Evercore ISI raised their price target on shares of Amphenol from $88.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, June 5th. UBS Group boosted their price objective on shares of Amphenol from $85.00 to $106.00 and gave the company a “buy” rating in a research report on Friday, May 30th. Finally, US Capital Advisors set a $85.00 target price on shares of Amphenol in a research report on Thursday, April 24th. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Amphenol Price Performance

Shares of APH opened at $93.00 on Thursday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.75 and a current ratio of 2.37. The company has a 50 day moving average price of $79.00 and a 200-day moving average price of $72.66. Amphenol Co. has a fifty-two week low of $54.77 and a fifty-two week high of $94.11. The stock has a market capitalization of $112.49 billion, a PE ratio of 48.56, a PEG ratio of 1.92 and a beta of 1.12.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Amphenol’s revenue was up 47.7% on a year-over-year basis. Equities analysts predict that Amphenol Co. will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.71%. Amphenol’s dividend payout ratio is presently 32.04%.

About Amphenol

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.