Amphenol Co. (APH) Shares Sold by California Public Employees Retirement System
California Public Employees Retirement System decreased its stake in Amphenol Co. (NYSE:APH) by 8.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 702,673 shares of the electronics maker’s stock after selling 67,592 shares during the period. California Public Employees Retirement System’s holdings in Amphenol were worth $60,521,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Dupont Capital Management Corp acquired a new position in shares of Amphenol in the 4th quarter valued at $115,000. Tower Research Capital LLC TRC boosted its holdings in shares of Amphenol by 87.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,369 shares of the electronics maker’s stock valued at $120,000 after buying an additional 640 shares in the last quarter. Fusion Family Wealth LLC acquired a new position in shares of Amphenol in the 4th quarter valued at $121,000. Wagner Wealth Management LLC acquired a new position in shares of Amphenol in the 4th quarter valued at $127,000. Finally, Stockman Wealth Management Inc. acquired a new position in shares of Amphenol in the 1st quarter valued at $206,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
Several research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Amphenol from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Friday, May 25th. Morgan Stanley upped their price target on shares of Amphenol from $90.00 to $93.00 and gave the company an “equal weight” rating in a research report on Thursday, April 26th. Finally, ValuEngine upgraded shares of Amphenol from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Five research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $91.89.
Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, April 25th. The electronics maker reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Amphenol had a net margin of 9.45% and a return on equity of 26.65%. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.82 billion. During the same quarter in the prior year, the firm earned $0.71 EPS. Amphenol’s revenue for the quarter was up 19.7% on a year-over-year basis. equities research analysts forecast that Amphenol Co. will post 3.52 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 10th. Shareholders of record on Monday, June 18th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Friday, June 15th. This represents a $0.92 dividend on an annualized basis and a yield of 1.06%. This is an increase from Amphenol’s previous quarterly dividend of $0.19. Amphenol’s dividend payout ratio is presently 24.36%.
Amphenol declared that its Board of Directors has approved a share buyback program on Wednesday, April 25th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the electronics maker to buy up to 7.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
Amphenol Corporation, together with its subsidiaries, engages in the design, manufacture, and marketing of electrical, electronic, and fiber optic connectors worldwide. It operates through two segments, Interconnect Products and Assemblies, and Cable Products and Solutions. The Interconnect Products and Assemblies segment offers connector and connector systems, including fiber optic, harsh environment, high-speed, and radio frequency interconnect products, as well as antennas; power interconnect products, bus bars, and distribution systems; and other connectors.
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