Hennessy Advisors Inc. Acquires New Position in Amphenol Corp. (APH)
Hennessy Advisors Inc. bought a new position in shares of Amphenol Corp. (NYSE:APH) during the third quarter, Holdings Channel reports. The fund bought 280,200 shares of the company’s stock, valued at approximately $18,191,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in APH. Arizona State Retirement System boosted its position in Amphenol Corp. by 2.1% in the first quarter. Arizona State Retirement System now owns 83,524 shares of the company’s stock worth $4,829,000 after buying an additional 1,700 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in Amphenol Corp. by 1.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,001 shares of the company’s stock worth $580,000 after buying an additional 158 shares in the last quarter. BlueMountain Capital Management LLC acquired a new position in Amphenol Corp. during the first quarter worth approximately $139,000. DNB Asset Management AS boosted its position in Amphenol Corp. by 2.1% in the second quarter. DNB Asset Management AS now owns 24,138 shares of the company’s stock worth $1,384,000 after buying an additional 500 shares in the last quarter. Finally, Exxonmobil Investment Management Inc. TX boosted its position in Amphenol Corp. by 6.3% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 79,707 shares of the company’s stock worth $4,570,000 after buying an additional 4,707 shares in the last quarter. 96.32% of the stock is currently owned by hedge funds and other institutional investors.
Amphenol Corp. (NYSE:APH) traded up 0.075% during mid-day trading on Wednesday, reaching $68.481. The company’s stock had a trading volume of 293,277 shares. The company’s 50-day moving average price is $66.00 and its 200 day moving average price is $61.51. Amphenol Corp. has a 52 week low of $44.50 and a 52 week high of $69.19. The firm has a market capitalization of $21.12 billion, a price-to-earnings ratio of 27.502 and a beta of 0.98.
Amphenol Corp. (NYSE:APH) last posted its earnings results on Wednesday, October 19th. The company reported $0.73 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.05. Amphenol Corp. had a net margin of 12.98% and a return on equity of 23.48%. The firm earned $1.64 billion during the quarter, compared to the consensus estimate of $1.58 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm’s revenue for the quarter was up 12.1% on a year-over-year basis. On average, equities analysts forecast that Amphenol Corp. will post $2.70 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 5th. Investors of record on Tuesday, December 13th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 0.94%. This is an increase from Amphenol Corp.’s previous quarterly dividend of $0.14. Amphenol Corp.’s dividend payout ratio (DPR) is 22.49%.
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APH has been the topic of a number of analyst reports. RBC Capital Markets upped their target price on Amphenol Corp. from $63.00 to $65.00 and gave the company a “top pick” rating in a research note on Friday, August 26th. Goldman Sachs Group Inc. raised Amphenol Corp. from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $70.00 in a research note on Tuesday, September 20th. Zacks Investment Research cut Amphenol Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, September 20th. Finally, Royal Bank Of Canada increased their price objective on Amphenol Corp. from $68.00 to $69.00 and gave the stock a “top pick” rating in a research note on Thursday, October 20th. Five investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Amphenol Corp. currently has a consensus rating of “Buy” and a consensus target price of $69.56.
In related news, VP Michael R. Ivas sold 17,500 shares of Amphenol Corp. stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $66.01, for a total value of $1,155,175.00. Following the completion of the sale, the vice president now owns 25,000 shares in the company, valued at approximately $1,650,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Adam Norwitt sold 295,000 shares of Amphenol Corp. stock in a transaction that occurred on Monday, October 24th. The shares were sold at an average price of $66.11, for a total transaction of $19,502,450.00. Following the completion of the sale, the chief executive officer now owns 304,992 shares of the company’s stock, valued at approximately $20,163,021.12. The disclosure for this sale can be found here. 2.92% of the stock is currently owned by corporate insiders.
About Amphenol Corp.
Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and coaxial and specialty cable. The Company operates through two segments: Interconnect Products and Assemblies, and Cable Products and Solutions.
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