Pegasus Asset Management Inc. Makes New $1.34 Million Investment in Amphenol Co. (NYSE:APH)
Pegasus Asset Management Inc. purchased a new position in shares of Amphenol Co. (NYSE:APH) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,930 shares of the electronics maker’s stock, valued at approximately $1,336,000.
A number of other institutional investors and hedge funds have also bought and sold shares of APH. Shilanski & Associates Inc. acquired a new stake in shares of Amphenol in the 2nd quarter valued at $899,000. National Asset Management Inc. boosted its stake in shares of Amphenol by 51.1% in the 2nd quarter. National Asset Management Inc. now owns 5,273 shares of the electronics maker’s stock valued at $507,000 after purchasing an additional 1,783 shares in the last quarter. FTB Advisors Inc. boosted its stake in shares of Amphenol by 977.9% in the 2nd quarter. FTB Advisors Inc. now owns 830 shares of the electronics maker’s stock valued at $79,000 after purchasing an additional 753 shares in the last quarter. First Long Island Investors LLC boosted its stake in shares of Amphenol by 19.4% in the 2nd quarter. First Long Island Investors LLC now owns 54,800 shares of the electronics maker’s stock valued at $5,258,000 after purchasing an additional 8,900 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Amphenol by 19.6% in the 2nd quarter. Parallel Advisors LLC now owns 1,469 shares of the electronics maker’s stock valued at $141,000 after purchasing an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 95.00% of the company’s stock.
Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Amphenol from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Evercore ISI assumed coverage on shares of Amphenol in a research note on Wednesday, June 5th. They issued an “outperform” rating and a $102.00 target price on the stock. Morgan Stanley reduced their target price on shares of Amphenol from $108.00 to $104.00 and set an “overweight” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Co reduced their target price on shares of Amphenol from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Finally, Longbow Research downgraded shares of Amphenol from a “buy” rating to a “neutral” rating and set a $94.30 target price on the stock. in a research note on Monday, June 17th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Amphenol has an average rating of “Buy” and a consensus target price of $104.41.
Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.93 by ($0.01). Amphenol had a net margin of 14.54% and a return on equity of 29.08%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the firm earned $0.90 earnings per share. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Amphenol Co. will post 3.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.13%. This is a boost from Amphenol’s previous quarterly dividend of $0.23. The ex-dividend date is Monday, September 16th. Amphenol’s payout ratio is currently 24.40%.
Amphenol Company Profile
Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets 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, busbars, and distribution systems; and other connectors.
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