Victory Capital Management Inc. Sells 556,483 Shares of Amphenol Co. (NYSE:APH)

Victory Capital Management Inc. lessened its holdings in Amphenol Co. (NYSE:APH) by 34.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,072,802 shares of the electronics maker’s stock after selling 556,483 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of Amphenol worth $69,904,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its stake in shares of 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 valued at $2,468,301,000 after purchasing an additional 17,552,921 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $1,564,711,000 after buying an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. increased its stake in shares of Amphenol by 88.9% in 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 during the last quarter. Legal & General Group Plc grew its holdings in Amphenol by 116.6% during the second 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 position 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 in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Amphenol Stock Up 0.4 %

APH stock opened at $72.59 on Friday. Amphenol Co. has a 52 week low of $44.42 and a 52 week high of $74.70. The business has a 50-day simple moving average of $66.25 and a 200 day simple moving average of $65.86. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53. The company has a market cap of $87.52 billion, a PE ratio of 42.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.23.

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

Amphenol Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be issued a dividend of $0.165 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.91%. Amphenol’s dividend payout ratio (DPR) is currently 37.93%.

Insider Activity at Amphenol

In other news, 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 transaction 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 31.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the firm’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total value of $10,314,000.00. Following the sale, the chief financial officer now directly owns 218,116 shares in the company, valued at approximately $14,997,656.16. This trade represents a 40.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,842,672 shares of company stock valued at $128,858,080 over the last ninety days. 1.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APH has been the subject of several recent analyst reports. Robert W. Baird increased their price target on Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their price target on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Evercore ISI upped their price objective on Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Bank of America raised their target price on shares of Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Truist Financial lifted their price objective 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 research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.63.

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.