Procyon Advisors LLC Acquires New Position in Amphenol Co. (NYSE:APH)

Procyon Advisors LLC bought a new stake in Amphenol Co. (NYSE:APH) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,209 shares of the electronics maker’s stock, valued at approximately $210,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Raiffeisen Bank International AG acquired a new position in Amphenol in the fourth quarter valued at $13,847,000. Consolidated Planning Corp increased its position in shares of Amphenol by 37.0% during the fourth quarter. Consolidated Planning Corp now owns 17,160 shares of the electronics maker’s stock worth $1,192,000 after acquiring an additional 4,631 shares in the last quarter. Kanawha Capital Management LLC grew its position in Amphenol by 4.5% in the 4th quarter. Kanawha Capital Management LLC now owns 151,867 shares of the electronics maker’s stock worth $10,547,000 after purchasing an additional 6,481 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Amphenol by 87.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker’s stock worth $701,000 after purchasing an additional 4,721 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Amphenol in the 4th quarter worth about $60,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Amphenol Stock Performance

Shares of APH stock opened at $92.95 on Tuesday. The company has a 50 day moving average price of $77.73 and a 200-day moving average price of $72.38. Amphenol Co. has a 52 week low of $54.77 and a 52 week high of $93.90. The firm has a market capitalization of $112.43 billion, a PE ratio of 48.54, a P/E/G ratio of 1.92 and a beta of 1.12. The company has a quick ratio of 1.75, a current ratio of 2.37 and a debt-to-equity ratio of 0.66.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.11. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.20 billion. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The firm’s quarterly revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 earnings per share. As a group, equities research analysts expect that Amphenol Co. will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors 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%.

Insider Activity at Amphenol

In other news, CEO Richard Adam Norwitt sold 2,000,000 shares of Amphenol stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $75.73, for a total transaction of $151,460,000.00. Following the completion of the sale, the chief executive officer now owns 2,002,507 shares of the company’s stock, valued at approximately $151,649,855.11. The trade was a 49.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Luc Walter sold 286,000 shares of Amphenol stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the sale, the insider now directly owns 451,790 shares of the company’s stock, valued at $41,307,159.70. This represents a 38.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,764,500 shares of company stock valued at $294,839,785. Corporate insiders own 1.67% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Evercore ISI upped their price target on shares of Amphenol from $88.00 to $105.00 and gave the company an “outperform” rating in a research note on Thursday, June 5th. UBS Group increased their target price on shares of Amphenol from $85.00 to $106.00 and gave the company a “buy” rating in a report on Friday, May 30th. TD Securities increased their target price on shares of Amphenol from $63.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, May 1st. The Goldman Sachs Group raised their price target on shares of Amphenol from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, April 24th. Finally, Citigroup raised their target price on shares of Amphenol from $85.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Amphenol currently has a consensus rating of “Moderate Buy” and an average target price of $86.31.

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.