Amphenol Co. (NYSE:APH) Insider Sells $10,897,000.00 in Stock

Amphenol Co. (NYSE:APH) insider Luc Walter sold 170,000 shares of Amphenol stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the transaction, the insider now directly owns 447,790 shares in the company, valued at $28,703,339. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Luc Walter also recently made the following trade(s):

• On Friday, July 26th, Luc Walter sold 106,000 shares of Amphenol stock. The shares were sold at an average price of $64.19, for a total transaction of $6,804,140.00.
• On Wednesday, May 22nd, Luc Walter sold 230,000 shares of Amphenol stock. The stock was sold at an average price of $67.57, for a total value of $15,541,100.00.

Amphenol Trading Down 3.3 %

NYSE APH opened at $62.12 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84. The company has a 50-day simple moving average of $66.90 and a 200-day simple moving average of $59.91. The firm has a market capitalization of $74.81 billion, a PE ratio of 37.99, a price-to-earnings-growth ratio of 2.81 and a beta of 1.25.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. Amphenol’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.72 earnings per share. On average, equities analysts forecast that Amphenol Co. will post 1.74 earnings per share for the current year.

Amphenol declared that its board has approved a stock repurchase program on Wednesday, April 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be given a $0.165 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 annualized dividend and a yield of 1.06%. Amphenol’s dividend payout ratio is presently 26.91%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on APH shares. Robert W. Baird reduced their price target on Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. UBS Group upped their price objective on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Jefferies Financial Group assumed coverage on Amphenol in a research note on Tuesday, April 9th. They set a “hold” rating and a $62.50 price objective for the company. Finally, TD Cowen upped their target price on Amphenol from $45.00 to $57.50 and gave the company a “hold” rating in a research report on Thursday, June 6th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.35.

Institutional Investors Weigh In On Amphenol

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after acquiring an additional 17,552,921 shares during the period. Norges Bank acquired a new position in shares of Amphenol during the fourth quarter valued at $1,078,167,000. Price T Rowe Associates Inc. MD raised its stake in shares of Amphenol by 39.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock valued at $2,899,059,000 after purchasing an additional 8,340,759 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Amphenol by 78.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,256,433 shares of the electronics maker’s stock worth $286,756,000 after purchasing an additional 1,871,099 shares during the period. Finally, Natixis Advisors LLC grew its position in Amphenol by 203.0% in the 2nd quarter. Natixis Advisors LLC now owns 2,342,164 shares of the electronics maker’s stock valued at $157,792,000 after buying an additional 1,569,290 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.