Summit Financial LLC Sells 187 Shares of Amphenol Co. (NYSE:APH)

Summit Financial LLC trimmed its position in shares of Amphenol Co. (NYSE:APH) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,120 shares of the electronics maker’s stock after selling 187 shares during the period. Summit Financial LLC’s holdings in Amphenol were worth $705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Tacita Capital Inc lifted its position in Amphenol by 328.9% during the fourth quarter. Tacita Capital Inc now owns 386 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 296 shares during the last quarter. Sierra Ocean LLC purchased a new position in Amphenol in the fourth quarter worth about $28,000. Rialto Wealth Management LLC bought a new stake in Amphenol during the fourth quarter worth approximately $28,000. Rakuten Securities Inc. raised its position in Amphenol by 703.8% during the fourth quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 366 shares during the period. Finally, Continuum Advisory LLC lifted its stake in shares of Amphenol by 89.3% in the 3rd quarter. Continuum Advisory LLC now owns 496 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 234 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Amphenol Stock Performance

Shares of Amphenol stock opened at $67.96 on Thursday. Amphenol Co. has a 12 month low of $54.72 and a 12 month high of $79.39. The stock’s fifty day moving average price is $67.45 and its 200-day moving average price is $68.85. The firm has a market cap of $82.35 billion, a P/E ratio of 35.49, a P/E/G ratio of 1.92 and a beta of 1.17. The company has a current ratio of 2.37, a quick ratio of 1.75 and a debt-to-equity ratio of 0.66.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The business had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the business posted $0.82 EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts expect that Amphenol Co. will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 18th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.97%. Amphenol’s dividend payout ratio is presently 34.55%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on APH. The Goldman Sachs Group boosted their target price on Amphenol from $79.00 to $89.00 and gave the company a “buy” rating in a research report on Thursday, January 23rd. JPMorgan Chase & Co. raised their target price on shares of Amphenol from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Citigroup upped their price target on shares of Amphenol from $81.00 to $82.00 and gave the company a “buy” rating in a report on Friday, January 17th. Robert W. Baird raised their price objective on shares of Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a research note on Thursday, January 23rd. Finally, Bank of America increased their price target on Amphenol from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $80.68.

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.