Cornerstone Advisors LLC Grows Stake in Amphenol Co. (NYSE:APH)

Cornerstone Advisors LLC increased its stake in Amphenol Co. (NYSE:APH) by 100.0% in the 2nd quarter, HoldingsChannel reports. The fund owned 17,200 shares of the electronics maker’s stock after acquiring an additional 8,600 shares during the period. Cornerstone Advisors LLC’s holdings in Amphenol were worth $1,159,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Amphenol by 0.4% in the first quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock worth $8,473,608,000 after acquiring an additional 321,861 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Amphenol by 92.0% in the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after purchasing an additional 17,552,921 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Amphenol by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock worth $3,601,694,000 after purchasing an additional 1,979,022 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Amphenol by 69.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock worth $1,564,711,000 after purchasing an additional 9,487,387 shares during the last quarter. Finally, Mawer Investment Management Ltd. lifted its stake in Amphenol by 88.9% in the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after purchasing an additional 7,275,279 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on APH. Evercore ISI reissued an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a research note on Thursday, June 13th. Vertical Research started coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price objective for the company. Citigroup lifted their price target on shares of Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Robert W. Baird decreased their price target on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Amphenol presently has an average rating of “Moderate Buy” and a consensus price target of $65.04.

Amphenol Stock Down 0.5 %

Amphenol stock opened at $63.27 on Tuesday. The business has a fifty day moving average of $64.52 and a two-hundred day moving average of $62.82. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The firm has a market cap of $76.20 billion, a P/E ratio of 38.70, a P/E/G ratio of 2.45 and a beta of 1.24. Amphenol Co. has a twelve month low of $39.34 and a twelve month high of $70.84.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. Amphenol’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.72 earnings per share. On average, analysts forecast that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a yield of 1.04%. Amphenol’s dividend payout ratio is currently 26.91%.

Insiders Place Their Bets

In other news, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the transaction, the vice president now directly owns 51,400 shares of the company’s stock, valued at $3,323,010. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total value of $19,749,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,516,000 shares of company stock worth $98,236,640 over the last 90 days. Company insiders own 1.80% of the company’s stock.

Amphenol Profile

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.