ING Groep NV Boosts Holdings in Amphenol Co. (NYSE:APH)

ING Groep NV boosted its position in shares of Amphenol Co. (NYSE:APH) by 119.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 908,762 shares of the electronics maker’s stock after purchasing an additional 494,113 shares during the period. ING Groep NV owned approximately 0.08% of Amphenol worth $59,215,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. B. Riley Wealth Advisors Inc. lifted its position in Amphenol by 0.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 31,286 shares of the electronics maker’s stock valued at $3,609,000 after purchasing an additional 80 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Amphenol by 1.5% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 6,076 shares of the electronics maker’s stock valued at $701,000 after purchasing an additional 88 shares during the period. Nicolet Advisory Services LLC raised its holdings in shares of Amphenol by 3.4% during the first quarter. Nicolet Advisory Services LLC now owns 2,724 shares of the electronics maker’s stock valued at $313,000 after buying an additional 89 shares during the last quarter. TIAA Trust National Association grew its holdings in Amphenol by 4.7% in the 1st quarter. TIAA Trust National Association now owns 2,718 shares of the electronics maker’s stock worth $314,000 after buying an additional 122 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in shares of Amphenol by 2.9% during the first quarter. Industrial Alliance Investment Management Inc. now owns 5,330 shares of the electronics maker’s stock valued at $615,000 after purchasing an additional 150 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Trading Up 1.4 %

Shares of NYSE:APH traded up $1.00 during midday trading on Thursday, reaching $73.33. The company had a trading volume of 1,539,009 shares, compared to its average volume of 6,621,944. The company has a fifty day simple moving average of $66.25 and a two-hundred day simple moving average of $65.86. The firm has a market cap of $88.41 billion, a price-to-earnings ratio of 42.25, a price-to-earnings-growth ratio of 2.39 and a beta of 1.23. Amphenol Co. has a 1-year low of $44.42 and a 1-year high of $74.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99.

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

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s dividend payout ratio (DPR) is currently 37.93%.

Insider Activity

In other news, insider Peter Straub sold 132,000 shares of Amphenol stock in a transaction 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 sale was disclosed in a filing with the SEC, which is available at this link. In other news, CEO Richard Adam Norwitt sold 900,672 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were 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 $133,136,890.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Peter Straub sold 132,000 shares of the stock in a transaction 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. Insiders sold 1,842,672 shares of company stock worth $128,858,080 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

APH has been the subject of a number of recent analyst reports. Evercore ISI increased their target price 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. 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 objective on the stock. TD Cowen boosted their target price on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Robert W. Baird increased their price target on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Truist Financial boosted their price objective 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Amphenol currently 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.