Envestnet Asset Management Inc. Increases Stake in Amphenol Co. (NYSE:APH)

Envestnet Asset Management Inc. grew its holdings in shares of Amphenol Co. (NYSE:APH) by 81.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,775,417 shares of the electronics maker’s stock after acquiring an additional 2,150,354 shares during the period. Envestnet Asset Management Inc. owned about 0.40% of Amphenol worth $321,720,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Oppenheimer Asset Management Inc. boosted its position in shares of Amphenol by 226.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 192,474 shares of the electronics maker’s stock worth $12,967,000 after purchasing an additional 133,532 shares during the period. Wealthspire Advisors LLC lifted its stake in shares of Amphenol by 80.9% during the 2nd quarter. Wealthspire Advisors LLC now owns 4,740 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,120 shares in the last quarter. Thoroughbred Financial Services LLC bought a new position in Amphenol in the 2nd quarter worth $407,000. Parallel Advisors LLC increased its stake in Amphenol by 110.8% in the 2nd quarter. Parallel Advisors LLC now owns 18,919 shares of the electronics maker’s stock worth $1,275,000 after buying an additional 9,943 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd raised its holdings in Amphenol by 79.0% during the second quarter. Dai ichi Life Insurance Company Ltd now owns 337,642 shares of the electronics maker’s stock valued at $22,747,000 after acquiring an additional 149,043 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Amphenol Stock Up 0.2 %

NYSE APH opened at $63.58 on Friday. Amphenol Co. has a 52 week low of $39.34 and a 52 week high of $70.84. The firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $64.61 and a two-hundred day moving average of $62.70.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the prior year, the firm posted $0.72 EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. On average, analysts predict that Amphenol Co. will post 1.76 earnings per share for the current year.

Amphenol Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on APH. Citigroup upped their price objective on Amphenol from $67.50 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Seaport Res Ptn upgraded shares of Amphenol to a “strong-buy” rating in a research note on Monday, May 20th. Evercore ISI reaffirmed an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a research note on Thursday, June 13th. Finally, Bank of America cut 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. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.04.

Insiders Place Their Bets

In other news, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 can be accessed through this link. In other news, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the completion of the sale, the vice president now owns 51,400 shares of the company’s stock, valued at $3,323,010. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total value of $19,749,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,516,000 shares of company stock worth $98,236,640 over the last quarter. Company insiders own 1.80% of the company’s stock.

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.