Manitou Investment Management Ltd. Lowers Stock Position in Amphenol Co. (NYSE:APH)

Manitou Investment Management Ltd. cut its stake in shares of Amphenol Co. (NYSE:APH) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 233,165 shares of the electronics maker’s stock after selling 1,132 shares during the quarter. Amphenol comprises about 3.2% of Manitou Investment Management Ltd.’s investment portfolio, making the stock its 13th largest position. Manitou Investment Management Ltd.’s holdings in Amphenol were worth $16,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. XTX Topco Ltd acquired a new stake in Amphenol in the 2nd quarter valued at about $242,000. AE Wealth Management LLC lifted its holdings in shares of Amphenol by 154.7% in the second quarter. AE Wealth Management LLC now owns 7,690 shares of the electronics maker’s stock valued at $518,000 after purchasing an additional 4,671 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Amphenol by 107.6% in the second quarter. EverSource Wealth Advisors LLC now owns 3,041 shares of the electronics maker’s stock valued at $195,000 after purchasing an additional 1,576 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of Amphenol by 246.5% during the 2nd quarter. Public Sector Pension Investment Board now owns 45,942 shares of the electronics maker’s stock worth $3,095,000 after purchasing an additional 32,685 shares in the last quarter. Finally, Evergreen Capital Management LLC lifted its stake in Amphenol by 130.6% in the 2nd quarter. Evergreen Capital Management LLC now owns 7,075 shares of the electronics maker’s stock valued at $477,000 after buying an additional 4,007 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

APH has been the subject of several recent research reports. Citigroup raised their price target on Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Truist Financial boosted their target price on shares of Amphenol from $90.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday. Bank of America raised their price target on shares of Amphenol from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday. Evercore ISI boosted 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. Finally, Robert W. Baird raised their target price on shares of Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday. Five investment 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’s stock. Based on data from MarketBeat, Amphenol presently has a consensus rating of “Moderate Buy” and a consensus target price of $77.92.

Amphenol Price Performance

Shares of Amphenol stock opened at $78.54 on Friday. The business’s fifty day moving average price is $71.86 and its 200 day moving average price is $67.86. The stock has a market capitalization of $94.69 billion, a P/E ratio of 41.01, a PEG ratio of 2.12 and a beta of 1.24. The company has a current ratio of 2.37, a quick ratio of 1.33 and a debt-to-equity ratio of 0.66. Amphenol Co. has a twelve month low of $49.38 and a twelve month high of $78.82.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4,051,810 billion. During the same quarter in the previous year, the business earned $0.82 EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts anticipate that Amphenol Co. will post 2.17 earnings per share for the current year.

Amphenol Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend was Tuesday, December 17th. Amphenol’s dividend payout ratio is presently 34.46%.

Insider Activity at Amphenol

In other Amphenol news, insider Peter Straub sold 132,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $74.12, for a total value of $9,783,840.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 218,116 shares of the company’s stock, 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. In the last 90 days, 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.

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.