Wedge Capital Management L L P NC Takes $53.65 Million Position in Amphenol Corporation (NYSE:APH)

Wedge Capital Management L L P NC purchased a new stake in shares of Amphenol Corporation (NYSE:APH) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 633,846 shares of the electronics maker’s stock, valued at approximately $53,649,000. Wedge Capital Management L L P NC owned approximately 0.21% of Amphenol Corporation at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of APH. Crossmark Global Holdings Inc. purchased a new position in shares of Amphenol Corporation in the 3rd quarter worth about $3,008,000. Dynamic Technology Lab Private Ltd purchased a new stake in Amphenol Corporation in the 2nd quarter worth approximately $392,000. Whittier Trust Co. lifted its holdings in Amphenol Corporation by 3,390.3% in the 3rd quarter. Whittier Trust Co. now owns 89,352 shares of the electronics maker’s stock worth $7,563,000 after buying an additional 86,792 shares during the period. Marvin & Palmer Associates Inc. lifted its holdings in Amphenol Corporation by 27.0% in the 2nd quarter. Marvin & Palmer Associates Inc. now owns 60,505 shares of the electronics maker’s stock worth $4,466,000 after buying an additional 12,855 shares during the period. Finally, Eagle Asset Management Inc. lifted its holdings in Amphenol Corporation by 14.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 431,534 shares of the electronics maker’s stock worth $31,855,000 after buying an additional 52,976 shares during the period. Institutional investors own 96.74% of the company’s stock.

APH has been the subject of a number of research analyst reports. Stifel Nicolaus lifted their target price on Amphenol Corporation from $78.00 to $85.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Morgan Stanley lifted their target price on Amphenol Corporation from $74.00 to $85.00 and gave the company an “equal weight” rating in a research report on Thursday, October 26th. Deutsche Bank AG lifted their target price on Amphenol Corporation from $95.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, October 26th. SunTrust Banks, Inc. lifted their target price on Amphenol Corporation from $77.00 to $82.00 and gave the company a “neutral” rating in a research report on Thursday, October 26th. Finally, Canaccord Genuity reissued a “hold” rating on shares of Amphenol Corporation in a report on Monday, October 16th. Five analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $87.90.

In related news, CEO Richard Adam Norwitt sold 220,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $86.10, for a total transaction of $18,942,000.00. Following the completion of the transaction, the chief executive officer now owns 216,492 shares of the company’s stock, valued at $18,639,961.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana G. Reardon sold 28,000 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $87.28, for a total transaction of $2,443,840.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 397,000 shares of company stock worth $33,877,390. 2.51% of the stock is owned by insiders.

TRADEMARK VIOLATION WARNING: This piece was published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://ledgergazette.com/2017/11/13/wedge-capital-management-l-l-p-nc-buys-shares-of-633846-amphenol-corporation-aph.html.

Amphenol Corporation (APH) traded up $1.49 during mid-day trading on Monday, reaching $88.21. 1,359,100 shares of the company’s stock were exchanged, compared to its average volume of 1,128,188. Amphenol Corporation has a 12 month low of $66.00 and a 12 month high of $88.36. The company has a debt-to-equity ratio of 0.87, a quick ratio of 2.27 and a current ratio of 3.04. The firm has a market cap of $26,933.96, a P/E ratio of 28.00, a price-to-earnings-growth ratio of 2.71 and a beta of 0.80.

Amphenol Corporation (NYSE:APH) last posted its earnings results on Wednesday, October 25th. The electronics maker reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The firm had revenue of $1.84 billion during the quarter, compared to the consensus estimate of $1.74 billion. Amphenol Corporation had a net margin of 14.73% and a return on equity of 25.63%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. analysts anticipate that Amphenol Corporation will post 3.21 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Monday, December 18th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 0.86%. Amphenol Corporation’s dividend payout ratio is presently 24.20%.

Amphenol Corporation Company Profile

Amphenol Corporation (Amphenol) is a designer, manufacturer and marketer of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor- based products, and coaxial and specialty cable. The Company operates through two segments, which include Interconnect Products and Assemblies, and Cable Products and Solutions.

Institutional Ownership by Quarter for Amphenol Corporation (NYSE:APH)

Receive News & Ratings for Amphenol Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphenol Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply