Optimal Asset Management Inc. Acquires New Holdings in Amphenol Co. (NYSE:APH)
Optimal Asset Management Inc. acquired a new stake in shares of Amphenol Co. (NYSE:APH) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 26,443 shares of the electronics maker’s stock, valued at approximately $1,927,000.
A number of other hedge funds also recently modified their holdings of APH. Capital International Investors bought a new stake in Amphenol during the first quarter valued at about $197,608,000. Norges Bank purchased a new stake in Amphenol in the fourth quarter valued at about $292,216,000. BlackRock Inc. raised its stake in Amphenol by 5.3% in the first quarter. BlackRock Inc. now owns 23,996,714 shares of the electronics maker’s stock valued at $1,748,880,000 after buying an additional 1,210,513 shares during the last quarter. Nuance Investments LLC raised its stake in Amphenol by 129.0% in the first quarter. Nuance Investments LLC now owns 1,952,234 shares of the electronics maker’s stock valued at $142,279,000 after buying an additional 1,099,642 shares during the last quarter. Finally, Alecta Pensionsforsakring Omsesidigt raised its stake in Amphenol by 19.0% in the first quarter. Alecta Pensionsforsakring Omsesidigt now owns 5,478,500 shares of the electronics maker’s stock valued at $398,342,000 after buying an additional 873,500 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors.
APH traded down $1.64 during trading on Friday, hitting $93.56. The company’s stock had a trading volume of 15,748 shares, compared to its average volume of 1,680,108. The company has a current ratio of 2.54, a quick ratio of 1.93 and a debt-to-equity ratio of 1.03. Amphenol Co. has a twelve month low of $63.05 and a twelve month high of $110.24. The business’s fifty day simple moving average is $94.12 and its 200 day simple moving average is $94.49. The firm has a market capitalization of $27.70 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 4.26 and a beta of 1.26.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Tuesday, June 16th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.07%. The ex-dividend date is Monday, June 15th. Amphenol’s payout ratio is currently 26.74%.
Several research analysts have recently issued reports on the company. Citigroup reduced their price objective on Amphenol from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, March 16th. restated a “sell” rating on shares of Amphenol in a research note on Tuesday, June 9th. Morgan Stanley raised their price objective on Amphenol from $86.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 16th. Stifel Nicolaus raised their price objective on Amphenol from $80.00 to $95.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Wells Fargo & Co raised their price objective on Amphenol from $90.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $99.00.
In other news, VP Lance E. D’amico sold 7,500 shares of Amphenol stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $94.22, for a total value of $706,650.00. Following the sale, the vice president now directly owns 11,000 shares of the company’s stock, valued at $1,036,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William J. Doherty sold 50,400 shares of Amphenol stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $101.83, for a total value of $5,132,232.00. Following the completion of the sale, the senior vice president now directly owns 20,000 shares in the company, valued at $2,036,600. The disclosure for this sale can be found here. Insiders sold 469,082 shares of company stock worth $48,535,741 over the last ninety days. Corporate insiders own 2.72% of the company’s stock.
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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