Cornerstone Advisors LLC Increases Holdings in Amphenol Co. (NYSE:APH)

Cornerstone Advisors LLC raised its stake in shares of Amphenol Co. (NYSE:APH) by 100.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,200 shares of the electronics maker’s stock after buying an additional 8,600 shares during the quarter. Cornerstone Advisors LLC’s holdings in Amphenol were worth $1,159,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new position in Amphenol during the fourth quarter valued at $29,000. Beacon Capital Management LLC raised its stake in shares of Amphenol by 121.2% in the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 206 shares during the last quarter. New England Capital Financial Advisors LLC raised its stake in shares of Amphenol by 100.0% in the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 188 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Amphenol in the second quarter worth $29,000. Finally, Sachetta LLC raised its stake in shares of Amphenol by 131.1% in the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on APH. Robert W. Baird reduced their price objective on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Citigroup upped their price objective on Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. UBS Group raised their target price on Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Bank of America lowered Amphenol from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $71.00 in a report on Wednesday, September 4th. Finally, Stifel Nicolaus reaffirmed a “hold” rating on shares of Amphenol in a research note on Thursday, June 13th. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.04.

Insider Activity

In other news, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at $124,875,089.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. 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. Corporate insiders own 1.80% of the company’s stock.

Amphenol Trading Down 0.5 %

APH stock opened at $63.27 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32. Amphenol Co. has a 1-year low of $39.34 and a 1-year high of $70.84. The business has a 50 day simple moving average of $64.52 and a two-hundred day simple moving average of $62.82. The company has a market capitalization of $76.20 billion, a price-to-earnings ratio of 38.70, a PEG ratio of 2.45 and a beta of 1.24.

Amphenol (NYSE:APH) last issued 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 firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. Amphenol’s revenue for the quarter 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. Research analysts anticipate that Amphenol Co. will post 1.76 EPS for the current fiscal year.

Amphenol Cuts Dividend

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

Amphenol Company 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.