Citigroup Inc. Acquires 709,827 Shares of Amphenol Corporation (NYSE:APH)

Citigroup Inc. grew its holdings in Amphenol Corporation (NYSE:APH) by 66.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,774,472 shares of the electronics maker’s stock after acquiring an additional 709,827 shares during the period. Citigroup Inc.’s holdings in Amphenol were worth $116,388,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in APH. Bank of America Corp DE raised its position in 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 acquiring an additional 18,619,417 shares during the period. Price T Rowe Associates Inc. MD raised its position in 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 acquiring an additional 15,837,407 shares during the period. Janus Henderson Group PLC raised its position in 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 acquiring an additional 3,933,269 shares during the period. Mackenzie Financial Corp increased its stake in shares of Amphenol by 108.9% in the fourth quarter. Mackenzie Financial Corp now owns 5,564,252 shares of the electronics maker’s stock worth $386,437,000 after purchasing an additional 2,900,024 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Amphenol by 1.9% in the first quarter. Vanguard Group Inc. now owns 154,998,780 shares of the electronics maker’s stock worth $10,166,370,000 after purchasing an additional 2,870,933 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

APH has been the subject of a number of analyst reports. Evercore ISI increased their price objective on shares of Amphenol from $105.00 to $110.00 and gave the stock an “outperform” rating in a research note on Friday, July 18th. Citigroup increased their price objective on shares of Amphenol from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, July 24th. Wall Street Zen raised shares of Amphenol from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 2nd. KGI Securities initiated coverage on shares of Amphenol in a research note on Thursday, June 26th. They issued a “hold” rating for the company. Finally, JPMorgan Chase & Co. increased their price objective on shares of Amphenol from $120.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 24th. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.92.

Amphenol Price Performance

APH stock opened at $110.01 on Friday. Amphenol Corporation has a 52 week low of $56.45 and a 52 week high of $110.60. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. The company has a fifty day simple moving average of $99.07 and a two-hundred day simple moving average of $80.95. The firm has a market capitalization of $134.31 billion, a P/E ratio of 43.83, a price-to-earnings-growth ratio of 1.77 and a beta of 1.13.

Amphenol (NYSE:APH) last released its quarterly earnings data 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 during the quarter, compared to analyst estimates of $5.01 billion. During the same quarter last year, the business earned $0.44 earnings per share. Amphenol’s quarterly revenue was up 56.5% compared to the same quarter last year. Analysts anticipate that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Tuesday, September 16th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, September 16th. This represents a $0.66 annualized dividend and a yield of 0.6%. Amphenol’s dividend payout ratio (DPR) is 26.29%.

Insider Buying and Selling at Amphenol

In other Amphenol news, insider Luc Walter sold 286,000 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $91.43, for a total transaction of $26,148,980.00. Following the completion of the transaction, the insider owned 451,790 shares in the company, valued at $41,307,159.70. This trade represents a 38.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider William J. Doherty sold 160,000 shares of the firm’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $89.54, for a total transaction of $14,326,400.00. The disclosure for this sale can be found here. Insiders have sold 586,000 shares of company stock worth $52,935,980 over the last three months. 1.67% of the stock is owned by company insiders.

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.