Tower Bridge Advisors Takes Position in Amphenol Corporation (NYSE:APH)

Tower Bridge Advisors purchased a new position in shares of Amphenol Corporation (NYSE:APH) during the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 4,000 shares of the electronics maker’s stock, valued at approximately $262,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its position in Amphenol by 2.6% during the 4th quarter. FMR LLC now owns 104,250,575 shares of the electronics maker’s stock worth $7,240,202,000 after acquiring an additional 2,643,752 shares during the period. Price T Rowe Associates Inc. MD grew its position in Amphenol by 36.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker’s stock valued at $4,091,426,000 after buying an additional 15,837,407 shares during the last quarter. Geode Capital Management LLC increased its stake in Amphenol by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 25,325,653 shares of the electronics maker’s stock valued at $1,754,672,000 after buying an additional 659,560 shares during the period. Bank of America Corp DE raised its position in Amphenol by 294.0% during the 4th 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 during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Amphenol by 14.9% in the 4th quarter. Northern Trust Corp now owns 13,065,802 shares of the electronics maker’s stock worth $907,420,000 after acquiring an additional 1,689,632 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling

In related news, VP Michael R. Ivas sold 40,000 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the sale, the vice president owned 152,412 shares of the company’s stock, valued at $13,532,661.48. This trade represents a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luc Walter sold 286,000 shares of Amphenol stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total value of $26,148,980.00. Following the sale, the insider owned 451,790 shares of the company’s stock, valued at approximately $41,307,159.70. This represents a 38.76% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 799,500 shares of company stock valued at $70,053,885. 1.67% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APH has been the subject of several analyst reports. KGI Securities initiated coverage on shares of Amphenol in a report on Thursday, June 26th. They set a “hold” rating for the company. Citigroup increased their target price on Amphenol from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Evercore ISI lifted their price target on Amphenol from $105.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, July 18th. Wall Street Zen raised Amphenol from a “hold” rating to a “buy” rating in a report on Sunday, June 22nd. Finally, TD Securities boosted their target price on shares of Amphenol from $63.00 to $70.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.23.

Amphenol Price Performance

Shares of NYSE APH opened at $105.42 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $96.19 and its 200 day moving average price is $79.12. Amphenol Corporation has a 52 week low of $54.77 and a 52 week high of $108.85. The stock has a market cap of $128.71 billion, a price-to-earnings ratio of 42.00, a PEG ratio of 1.76 and a beta of 1.13.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.66 by $0.15. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period in the prior year, the business earned $0.44 earnings per share. The company’s quarterly revenue was up 56.5% on a year-over-year basis. As a group, research analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

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.