Ascent Group LLC Reduces Stock Position in Amphenol Co. (NYSE:APH)

Ascent Group LLC reduced its holdings in Amphenol Co. (NYSE:APH) by 0.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,171 shares of the electronics maker’s stock after selling 317 shares during the quarter. Ascent Group LLC’s holdings in Amphenol were worth $3,790,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its position in shares of Amphenol by 127.3% in the 1st quarter. Cetera Investment Advisers now owns 95,965 shares of the electronics maker’s stock worth $11,070,000 after buying an additional 53,740 shares during the period. Cetera Advisors LLC grew its stake in shares of Amphenol by 511.9% in the 1st quarter. Cetera Advisors LLC now owns 25,677 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 21,481 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in Amphenol by 132.3% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 6,094 shares of the electronics maker’s stock valued at $411,000 after buying an additional 3,471 shares in the last quarter. Versant Capital Management Inc raised its stake in Amphenol by 463.9% during the second quarter. Versant Capital Management Inc now owns 609 shares of the electronics maker’s stock valued at $41,000 after buying an additional 501 shares during the last quarter. Finally, ST Germain D J Co. Inc. grew its stake in shares of Amphenol by 100.0% in the second quarter. ST Germain D J Co. Inc. now owns 1,280 shares of the electronics maker’s stock worth $86,000 after acquiring an additional 640 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 analysts have weighed in on APH shares. Bank of America raised 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. Evercore ISI increased their price objective on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen upped their target price on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 25th. Robert W. Baird lifted their price objective on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Truist Financial increased their price target on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

Insider Buying and Selling

In other news, CEO Richard Adam Norwitt sold 900,672 shares of the stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $9,783,840.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is owned by corporate insiders.

Amphenol Stock Performance

NYSE APH opened at $72.65 on Monday. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. Amphenol Co. has a twelve month low of $45.01 and a twelve month high of $74.93. The stock has a 50-day moving average of $68.51 and a 200 day moving average of $66.71. The stock has a market capitalization of $87.59 billion, a price-to-earnings ratio of 41.75, a PEG ratio of 2.42 and a beta of 1.23.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.05. The business had revenue of $4.04 billion for 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 company’s revenue was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. Sell-side analysts anticipate that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Announces Dividend

The business also recently announced 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. This represents a $0.66 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s dividend payout ratio is currently 37.93%.

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.