Metis Global Partners LLC Raises Position in Amphenol Co. (NYSE:APH)

Metis Global Partners LLC boosted its holdings in Amphenol Co. (NYSE:APH) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,743 shares of the electronics maker’s stock after acquiring an additional 1,780 shares during the quarter. Metis Global Partners LLC’s holdings in Amphenol were worth $3,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in Amphenol by 92.0% in the second 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 in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Amphenol by 69.1% during the 2nd 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 in the last quarter. Mawer Investment Management Ltd. grew its position in Amphenol by 88.9% in the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after acquiring an additional 7,275,279 shares in the last quarter. Legal & General Group Plc boosted 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 worth $662,458,000 after purchasing an additional 5,293,292 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in shares of Amphenol by 263.0% during the 2nd quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock valued at $240,935,000 after buying an additional 2,585,282 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on APH shares. Vertical Research assumed coverage on shares of Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price on the stock. Robert W. Baird lifted their price target on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI raised 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. Bank of America lifted their price target on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, TD Cowen upped their price objective on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Amphenol currently 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 the firm’s stock in a transaction on Tuesday, October 29th. The stock was 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 owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP David M. Silverman sold 180,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total value of $12,391,200.00. Following the sale, the vice president now owns 14,000 shares in the company, valued at approximately $963,760. The trade was a 92.78 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,842,672 shares of company stock worth $128,858,080. Corporate insiders own 1.80% of the company’s stock.

Amphenol Stock Performance

APH stock opened at $72.59 on Friday. Amphenol Co. has a twelve month low of $44.42 and a twelve month high of $74.70. The business’s fifty day simple moving average is $66.25 and its two-hundred day simple moving average is $65.86. The firm has a market cap of $87.52 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 2.39 and a beta of 1.23. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53.

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

Amphenol Announces Dividend

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

Amphenol Company 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.