Clearstead Trust LLC Raises Holdings in Amphenol Co. (NYSE:APH)

Clearstead Trust LLC lifted its stake in Amphenol Co. (NYSE:APH) by 105.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,734 shares of the electronics maker’s stock after buying an additional 891 shares during the quarter. Clearstead Trust LLC’s holdings in Amphenol were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. boosted its position in Amphenol by 0.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 31,286 shares of the electronics maker’s stock worth $3,609,000 after purchasing an additional 80 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Amphenol by 1.7% during the first quarter. Atomi Financial Group Inc. now owns 4,720 shares of the electronics maker’s stock worth $544,000 after purchasing an additional 81 shares in the last quarter. Lindbrook Capital LLC boosted its position in Amphenol by 2.0% during the first quarter. Lindbrook Capital LLC now owns 4,245 shares of the electronics maker’s stock worth $490,000 after purchasing an additional 85 shares in the last quarter. Pinnacle Wealth Planning Services Inc. boosted its position in Amphenol by 1.5% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 6,076 shares of the electronics maker’s stock worth $701,000 after purchasing an additional 88 shares in the last quarter. Finally, Nicolet Advisory Services LLC boosted its position in Amphenol by 3.4% during the first quarter. Nicolet Advisory Services LLC now owns 2,724 shares of the electronics maker’s stock worth $313,000 after purchasing an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling

In related news, CEO Richard Adam Norwitt sold 750,000 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $124,875,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Luc Walter sold 170,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the completion of the transaction, the insider now directly owns 447,790 shares in the company, valued at $28,703,339. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $64.54, for a total value of $48,405,000.00. Following the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,516,000 shares of company stock worth $98,236,640. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on APH shares. UBS Group increased their price target on Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Citigroup increased their target price on Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Robert W. Baird reduced their target price on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Evercore ISI reissued an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Finally, Vertical Research assumed coverage on Amphenol in a report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price for the company. Six investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.04.

Amphenol Price Performance

NYSE:APH opened at $63.27 on Tuesday. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The stock has a market cap of $76.20 billion, a PE ratio of 38.70, a P/E/G ratio of 2.45 and a beta of 1.24. The stock has a 50 day moving average price of $64.52 and a 200 day moving average price of $62.82.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. Equities research analysts expect that Amphenol Co. will post 1.76 EPS for the current fiscal 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 given a $0.165 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 annualized dividend and a yield of 1.04%. Amphenol’s payout ratio is 26.91%.

About Amphenol

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.