State of Michigan Retirement System Boosts Stake in Amphenol Co. (NYSE:APH)

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State of Michigan Retirement System lifted its holdings in shares of Amphenol Co. (NYSE:APH) by 11.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 75,598 shares of the electronics maker’s stock after acquiring an additional 7,546 shares during the quarter. State of Michigan Retirement System’s holdings in Amphenol were worth $7,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Jacobi Capital Management LLC purchased a new stake in Amphenol during the 2nd quarter valued at $29,000. Key Financial Inc bought a new stake in shares of Amphenol in the first quarter worth $31,000. Sound Income Strategies LLC increased its position in Amphenol by 350.0% during the first quarter. Sound Income Strategies LLC now owns 450 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 350 shares during the last quarter. Shine Investment Advisory Services Inc. lifted its holdings in Amphenol by 75.3% in the first quarter. Shine Investment Advisory Services Inc. now owns 482 shares of the electronics maker’s stock valued at $35,000 after acquiring an additional 207 shares during the period. Finally, Cognios Capital LLC purchased a new position in Amphenol in the first quarter worth about $35,000. 94.07% of the stock is owned by institutional investors and hedge funds.

In related news, SVP Luc Walter sold 80,282 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $98.79, for a total value of $7,931,058.78. Following the completion of the transaction, the senior vice president now directly owns 124,615 shares of the company’s stock, valued at $12,310,715.85. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 325,000 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $105.12, for a total transaction of $34,164,000.00. Following the completion of the sale, the chief executive officer now owns 200,000 shares in the company, valued at approximately $21,024,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,082 shares of company stock valued at $48,535,741. Company insiders own 2.72% of the company’s stock.

APH has been the topic of several recent research reports. Wells Fargo & Co reiterated a “buy” rating and issued a $118.00 price objective (up previously from $108.00) on shares of Amphenol in a research note on Thursday, July 23rd. Royal Bank of Canada lifted their price target on shares of Amphenol from $94.00 to $105.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 23rd. Zacks Investment Research upgraded Amphenol from a “sell” rating to a “hold” rating and set a $91.00 price objective for the company in a research note on Monday, April 27th. Jefferies Financial Group lifted their target price on Amphenol from $119.00 to $125.00 and gave the company a “buy” rating in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. reduced their price target on Amphenol from $96.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, April 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $108.50.

NYSE APH opened at $105.76 on Friday. Amphenol Co. has a 12 month low of $63.05 and a 12 month high of $110.24. The company has a current ratio of 2.59, a quick ratio of 1.82 and a debt-to-equity ratio of 0.78. The stock has a market cap of $31.56 billion, a PE ratio of 29.46, a P/E/G ratio of 4.23 and a beta of 1.27. The stock’s 50 day moving average is $98.16 and its 200 day moving average is $92.97.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, July 22nd. The electronics maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.63 by $0.18. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.75 billion. Amphenol had a net margin of 13.56% and a return on equity of 23.39%. During the same quarter in the previous year, the firm earned $0.92 earnings per share. On average, analysts forecast that Amphenol Co. will post 3.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, September 14th. Amphenol’s dividend payout ratio (DPR) is presently 26.74%.

Amphenol 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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Institutional Ownership by Quarter for Amphenol (NYSE:APH)

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