Baker Avenue Asset Management LP Trims Stock Holdings in Amphenol Co. (NYSE:APH)

Baker Avenue Asset Management LP decreased its position in Amphenol Co. (NYSE:APH) by 0.9% in the third quarter, Holdings Channel reports. The firm owned 140,922 shares of the electronics maker’s stock after selling 1,307 shares during the period. Baker Avenue Asset Management LP’s holdings in Amphenol were worth $9,182,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in APH. Vanguard Group Inc. lifted its position in Amphenol by 0.4% during the first quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock valued at $8,473,608,000 after purchasing an additional 321,861 shares during the period. Bank of New York Mellon Corp increased its position in shares of Amphenol by 92.0% during 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 purchasing an additional 17,552,921 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Amphenol by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock valued at $3,601,694,000 after buying an additional 1,979,022 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings 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 worth $1,564,711,000 after purchasing an additional 9,487,387 shares during the last quarter. Finally, Mawer Investment Management Ltd. boosted its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on APH. Bank of America lifted their price target on shares of Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Evercore ISI increased their target price on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Robert W. Baird lifted their price target 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 for the company. Finally, Truist Financial upped their price objective on Amphenol from $76.00 to $82.00 and gave the company a “buy” 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Amphenol has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Insider Activity

In related news, VP Lance E. D’amico sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the completion of the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,373,382. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP Lance E. D’amico sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value of $6,563,000.00. Following the transaction, the vice president now owns 51,400 shares in the company, valued at approximately $3,373,382. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $9,783,840.00. 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 over the last quarter. Company insiders own 1.80% of the company’s stock.

Amphenol Price Performance

Amphenol stock traded down $0.08 during trading hours on Friday, hitting $73.87. The stock had a trading volume of 6,027,093 shares, compared to its average volume of 7,756,556. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33. The stock’s fifty day moving average is $65.71 and its two-hundred day moving average is $65.52. Amphenol Co. has a 1-year low of $42.44 and a 1-year high of $74.60. The stock has a market capitalization of $89.06 billion, a price-to-earnings ratio of 42.45, a PEG ratio of 2.40 and a beta of 1.23.

Amphenol (NYSE:APH) last posted its 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. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the company earned $0.39 EPS. Amphenol’s revenue was up 26.3% on a year-over-year basis. As a group, analysts predict that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.89%. Amphenol’s dividend payout ratio (DPR) 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.