Amphenol Co. (NYSE:APH) Stock Position Lowered by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its holdings in shares of Amphenol Co. (NYSE:APH) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 930,791 shares of the electronics maker’s stock after selling 95,743 shares during the period. Amphenol makes up 1.0% of Wedge Capital Management L L P NC’s portfolio, making the stock its 12th biggest holding. Wedge Capital Management L L P NC owned 0.08% of Amphenol worth $60,650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after purchasing an additional 17,552,921 shares during the period. Massachusetts Financial Services Co. MA raised its position in Amphenol by 69.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock valued at $1,564,711,000 after buying an additional 9,487,387 shares during the period. Mawer Investment Management Ltd. grew its stake in Amphenol by 88.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after acquiring an additional 7,275,279 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Amphenol by 116.6% in the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after purchasing an additional 5,293,292 shares during the period. Finally, National Bank of Canada FI boosted its holdings in shares of Amphenol by 263.0% during the second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock worth $240,935,000 after purchasing an additional 2,585,282 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Amphenol news, insider Luc Walter sold 170,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.10, for a total value 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. This trade represents a 0.00 % 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. In related news, CEO Richard Adam Norwitt sold 750,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Luc Walter sold 170,000 shares of Amphenol 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 transaction, the insider now directly owns 447,790 shares of the company’s stock, valued at approximately $28,703,339. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

APH has been the topic of a number of research reports. Vertical Research assumed coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target on the stock. Truist Financial lifted their price target on Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird cut their price objective on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. UBS Group increased their price target on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Finally, Bank of America reduced their price target on Amphenol from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amphenol has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Amphenol Trading Up 1.9 %

NYSE:APH traded up $1.22 on Monday, reaching $66.78. The company’s stock had a trading volume of 1,927,316 shares, compared to its average volume of 6,482,173. The firm has a market cap of $80.22 billion, a PE ratio of 40.22, a PEG ratio of 2.56 and a beta of 1.24. 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 business’s 50-day moving average price is $64.13 and its two-hundred day moving average price is $63.98. Amphenol Co. has a 1-year low of $39.34 and a 1-year high of $70.84.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.03. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.72 earnings per share. Equities research analysts anticipate that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th were issued a $0.165 dividend. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.99%. Amphenol’s dividend payout ratio (DPR) is presently 40.49%.

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.