Bridges Investment Management Inc. Buys 57,772 Shares of Amphenol Co. (NYSE:APH)

Bridges Investment Management Inc. grew its position in Amphenol Co. (NYSE:APH) by 38.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 207,446 shares of the electronics maker’s stock after buying an additional 57,772 shares during the period. Bridges Investment Management Inc.’s holdings in Amphenol were worth $13,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assetmark Inc. raised its holdings in Amphenol by 12.3% during the 3rd quarter. Assetmark Inc. now owns 38,936 shares of the electronics maker’s stock worth $2,537,000 after purchasing an additional 4,272 shares during the last quarter. Executive Wealth Management LLC bought a new stake in shares of Amphenol during the third quarter worth approximately $3,150,000. CWA Asset Management Group LLC acquired a new position in Amphenol in the third quarter valued at approximately $606,000. Summit Global Investments bought a new position in Amphenol in the third quarter valued at approximately $3,098,000. Finally, Tandem Investment Advisors Inc. grew its holdings in Amphenol by 0.7% during the 3rd quarter. Tandem Investment Advisors Inc. now owns 1,186,209 shares of the electronics maker’s stock worth $77,293,000 after acquiring an additional 7,902 shares during the period. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. TD Cowen raised their price target on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Bank of America boosted their target price on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Vertical Research began coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price objective on the stock. Evercore ISI upped their target price on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial lifted their price target on shares of Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.63.

Insider Activity

In related news, CEO Richard Adam Norwitt sold 900,672 shares of Amphenol stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $133,136,890.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Peter Straub sold 132,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $74.12, for a total value of $9,783,840.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total value of $61,975,240.32. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares in the company, valued at approximately $133,136,890.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,242,672 shares of company stock valued at $155,170,080 in the last quarter. Company insiders own 1.80% of the company’s stock.

Amphenol Trading Down 0.1 %

NYSE APH opened at $73.90 on Friday. Amphenol Co. has a 52 week low of $42.44 and a 52 week high of $74.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99. The stock’s 50 day moving average price is $65.71 and its two-hundred day moving average price is $65.52. The stock has a market capitalization of $89.09 billion, a price-to-earnings ratio of 42.47, a PEG ratio of 2.27 and a beta of 1.23.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same quarter in the prior year, the company posted $0.39 earnings per share. The firm’s revenue was up 26.3% on a year-over-year basis. As a group, analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Tuesday, December 17th. Amphenol’s dividend payout ratio is currently 37.93%.

Amphenol 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.