Mittelman Wealth Management Purchases 12,475 Shares of Amphenol Co. (NYSE:APH)

Mittelman Wealth Management increased its position in Amphenol Co. (NYSE:APH) by 100.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 24,950 shares of the electronics maker’s stock after acquiring an additional 12,475 shares during the quarter. Amphenol accounts for about 1.1% of Mittelman Wealth Management’s investment portfolio, making the stock its 22nd biggest holding. Mittelman Wealth Management’s holdings in Amphenol were worth $1,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Great Lakes Advisors LLC purchased a new stake in shares of Amphenol during the 4th quarter valued at about $214,000. Financial Advocates Investment Management purchased a new stake in Amphenol during the fourth quarter valued at approximately $256,000. Wells Fargo & Company MN raised its position in Amphenol by 1.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,757,305 shares of the electronics maker’s stock worth $174,202,000 after acquiring an additional 26,568 shares during the period. D.A. Davidson & CO. purchased a new position in shares of Amphenol during the 4th quarter worth $239,000. Finally, Corient Private Wealth LLC grew its position in shares of Amphenol by 228.5% during the 4th quarter. Corient Private Wealth LLC now owns 169,028 shares of the electronics maker’s stock valued at $16,756,000 after acquiring an additional 117,579 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Stock Performance

APH opened at $63.30 on Thursday. The stock has a market capitalization of $76.04 billion, a price-to-earnings ratio of 38.83, a PEG ratio of 2.45 and a beta of 1.24. Amphenol Co. has a fifty-two week low of $39.34 and a fifty-two week 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 company has a fifty day moving average of $64.29 and a 200 day moving average of $62.88.

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, beating analysts’ consensus estimates of $0.41 by $0.03. The firm 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 business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 earnings per share. As a group, sell-side analysts forecast that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.04%. Amphenol’s dividend payout ratio (DPR) is 40.49%.

Insider Activity

In related news, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total value of $19,749,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider William J. Doherty sold 300,000 shares of Amphenol stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.83, for a total value of $19,749,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Lance E. D’amico sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value of $6,563,000.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at $3,373,382. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on APH. Vertical Research started coverage on Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price on the stock. UBS Group lifted their price objective on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. TD Cowen increased their target price on shares of Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Stifel Nicolaus restated a “hold” rating on shares of Amphenol in a research note on Thursday, June 13th. Finally, Evercore ISI reiterated an “outperform” rating on shares of Amphenol in a research report on Thursday, June 13th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.04.

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.