Massachusetts Financial Services Co. MA Reduces Position in Amphenol Corporation (NYSE:APH)

Massachusetts Financial Services Co. MA cut its holdings in shares of Amphenol Corporation (NYSE:APH) by 6.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 20,676,055 shares of the electronics maker’s stock after selling 1,460,459 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Amphenol were worth $1,356,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in APH. Norges Bank purchased a new stake in Amphenol during the fourth quarter valued at about $1,378,794,000. Bank of America Corp DE lifted its holdings in shares of Amphenol by 294.0% in the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker’s stock worth $1,733,027,000 after buying an additional 18,619,417 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amphenol by 36.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker’s stock worth $4,091,426,000 after buying an additional 15,837,407 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Amphenol by 619.9% in the fourth quarter. Wellington Management Group LLP now owns 7,014,111 shares of the electronics maker’s stock worth $487,130,000 after buying an additional 6,039,845 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Amphenol by 118.4% in the fourth quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker’s stock worth $503,975,000 after buying an additional 3,933,269 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Up 0.4%

Shares of NYSE APH opened at $98.74 on Monday. Amphenol Corporation has a one year low of $54.77 and a one year high of $99.99. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.99 and a quick ratio of 1.36. The firm’s 50 day simple moving average is $91.20 and its two-hundred day simple moving average is $76.29. The stock has a market capitalization of $119.44 billion, a P/E ratio of 47.93, a PEG ratio of 2.26 and a beta of 1.13.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. Amphenol had a net margin of 15.58% and a return on equity of 27.68%. The business had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.20 billion. During the same period last year, the business earned $0.40 earnings per share. The business’s quarterly revenue was up 47.7% on a year-over-year basis. As a group, analysts expect that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 17th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.67%. The ex-dividend date of this dividend was Tuesday, June 17th. Amphenol’s dividend payout ratio is 32.04%.

Insider Transactions at Amphenol

In other news, VP Lance E. D’amico sold 175,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $76.28, for a total value of $13,349,000.00. Following the transaction, the vice president owned 51,400 shares in the company, valued at approximately $3,920,792. This trade represents a 77.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Craig A. Lampo sold 400,000 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $75.93, for a total transaction of $30,372,000.00. Following the completion of the transaction, the chief financial officer owned 100,000 shares in the company, valued at $7,593,000. This represents a 80.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,764,500 shares of company stock valued at $294,839,785. 1.67% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

APH has been the topic of a number of recent analyst reports. TD Securities increased their price target on shares of Amphenol from $63.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. increased their price target on shares of Amphenol from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Evercore ISI increased their price target on shares of Amphenol from $88.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, June 5th. Fox Advisors raised shares of Amphenol from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a report on Thursday, April 24th. Finally, Industrial Alliance Securities set a $115.00 price objective on shares of Amphenol in a research report on Friday. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Amphenol 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.