Clearstead Trust LLC Grows Stock Position in Amphenol Co. (NYSE:APH)

Clearstead Trust LLC lifted its stake in Amphenol Co. (NYSE:APH) by 105.7% in the second quarter, HoldingsChannel reports. The firm owned 1,734 shares of the electronics maker’s stock after acquiring an additional 891 shares during the quarter. Clearstead Trust LLC’s holdings in Amphenol were worth $117,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sargent Investment Group LLC purchased a new position in Amphenol in the second quarter valued at $439,000. Moors & Cabot Inc. boosted its holdings in Amphenol by 87.6% in the second quarter. Moors & Cabot Inc. now owns 4,088 shares of the electronics maker’s stock valued at $275,000 after purchasing an additional 1,909 shares during the period. Cornerstone Advisors LLC boosted its holdings in Amphenol by 100.0% in the second quarter. Cornerstone Advisors LLC now owns 17,200 shares of the electronics maker’s stock valued at $1,159,000 after purchasing an additional 8,600 shares during the period. Citizens Financial Group Inc. RI boosted its holdings in Amphenol by 114.5% in the second quarter. Citizens Financial Group Inc. RI now owns 10,057 shares of the electronics maker’s stock valued at $678,000 after purchasing an additional 5,369 shares during the period. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in Amphenol by 100.1% in the second quarter. Mesirow Financial Investment Management Inc. now owns 37,912 shares of the electronics maker’s stock valued at $2,554,000 after purchasing an additional 18,966 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on APH shares. Bank of America cut Amphenol from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $71.00 in a research note on Wednesday, September 4th. Seaport Res Ptn upgraded Amphenol to a “strong-buy” rating in a research note on Monday, May 20th. Robert W. Baird cut their price target on Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Evercore ISI restated an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Finally, Truist Financial raised their price target on Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.04.

Amphenol Stock Down 0.5 %

APH opened at $63.27 on Tuesday. The stock has a market capitalization of $76.20 billion, a P/E ratio of 38.70, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84. The business’s 50-day simple moving average is $64.52 and its 200-day simple moving average is $62.82. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.72 EPS. Analysts anticipate that Amphenol Co. will post 1.76 EPS for the current year.

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.04%. The ex-dividend date is Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is presently 26.91%.

Insider Activity at Amphenol

In other Amphenol news, insider Luc Walter sold 106,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.19, for a total value of $6,804,140.00. Following the sale, the insider now owns 447,790 shares of the company’s stock, valued at approximately $28,743,640.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Amphenol news, insider Luc Walter sold 106,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.19, for a total value of $6,804,140.00. Following the sale, the insider now owns 447,790 shares of the company’s stock, valued at approximately $28,743,640.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.65, for a total value of $5,818,500.00. Following the completion of the sale, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,323,010. The disclosure for this sale can be found here. Insiders have sold 1,516,000 shares of company stock worth $98,236,640 in the last quarter. Company insiders own 1.80% of the company’s stock.

Amphenol Company 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.