Avity Investment Management Inc. Reduces Holdings in Amphenol Co. (NYSE:APH)

Avity Investment Management Inc. cut its stake in Amphenol Co. (NYSE:APH) by 6.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 689,487 shares of the electronics maker’s stock after selling 44,368 shares during the period. Amphenol makes up approximately 3.5% of Avity Investment Management Inc.’s investment portfolio, making the stock its 9th biggest position. Avity Investment Management Inc. owned approximately 0.06% of Amphenol worth $44,927,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in Amphenol by 92.0% in 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 during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Amphenol by 69.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock valued at $1,564,711,000 after buying an additional 9,487,387 shares in the last quarter. Mawer Investment Management Ltd. increased its holdings in shares of Amphenol by 88.9% in the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after buying an additional 7,275,279 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Amphenol by 116.6% in the second quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after buying an additional 5,293,292 shares in the last quarter. Finally, National Bank of Canada FI increased its holdings in shares of Amphenol by 263.0% in the second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock valued at $240,935,000 after buying an additional 2,585,282 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Robert W. Baird dropped their price target on Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Vertical Research began coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price on the stock. Truist Financial boosted their target price on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Bank of America cut their target price on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, UBS Group boosted their target price on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Amphenol Trading Up 1.5 %

Shares of NYSE:APH opened at $65.56 on Friday. The stock has a market capitalization of $78.95 billion, a PE ratio of 39.15, a P/E/G ratio of 2.56 and a beta of 1.24. Amphenol Co. has a 1 year low of $39.34 and a 1 year high of $70.84. The firm has a fifty day moving average price of $64.13 and a 200 day moving average price of $63.88. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Analysts expect that Amphenol Co. will post 1.76 EPS for the current fiscal year.

Amphenol Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th were issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend was Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is 39.40%.

Insider Activity

In other news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider William J. Doherty sold 300,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.83, for a total value of $19,749,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 750,000 shares of the stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. Insiders own 1.80% of the company’s stock.

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.