Kentucky Retirement Systems Insurance Trust Fund Cuts Stock Position in Amphenol Co. (NYSE:APH)

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Amphenol Co. (NYSE:APH) by 8.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,656 shares of the electronics maker’s stock after selling 3,088 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Amphenol were worth $2,323,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position 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 worth $2,468,301,000 after acquiring an additional 17,552,921 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Amphenol by 6.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock worth $3,601,694,000 after purchasing an additional 1,979,022 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Amphenol by 69.1% in 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 purchasing an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. grew its holdings in Amphenol by 88.9% during the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after purchasing an additional 7,275,279 shares during the period. Finally, 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. 97.01% of the stock is currently owned by institutional investors.

Amphenol Trading Down 2.8 %

Shares of APH stock opened at $70.52 on Friday. Amphenol Co. has a 52-week low of $44.44 and a 52-week high of $74.70. The business’s fifty day moving average is $66.68 and its 200 day moving average is $66.01. 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 company has a market capitalization of $85.02 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 2.40 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 (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 the consensus estimate of $3.81 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the company posted $0.39 EPS. On average, equities research analysts anticipate that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Dividend Announcement

The business 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 $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s payout ratio is 37.93%.

Insider Activity

In other news, CEO Richard Adam Norwitt sold 900,672 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Straub sold 132,000 shares of the business’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 disclosure for this sale can be found here. In the last quarter, insiders have sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. TD Cowen upped their price target on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Truist Financial upped their price objective on shares of Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Robert W. Baird lifted their target price on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Vertical Research assumed coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price target on the stock. Finally, Bank of America lifted their price objective 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. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amphenol has a consensus rating of “Moderate Buy” and an average 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.