Fred Alger Management LLC Trims Holdings in Amphenol Co. (NYSE:APH)

Fred Alger Management LLC lowered its holdings in Amphenol Co. (NYSE:APH) by 8.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 215,447 shares of the electronics maker’s stock after selling 20,230 shares during the quarter. Fred Alger Management LLC’s holdings in Amphenol were worth $14,039,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in APH. Texas Permanent School Fund Corp increased its position in Amphenol by 61.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock valued at $13,458,000 after purchasing an additional 75,753 shares during the period. United Services Automobile Association increased its position in shares of Amphenol by 102.0% during the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock valued at $2,154,000 after buying an additional 16,149 shares during the period. Daiwa Securities Group Inc. raised its stake in Amphenol by 50.9% in the third quarter. Daiwa Securities Group Inc. now owns 268,219 shares of the electronics maker’s stock worth $17,477,000 after buying an additional 90,450 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Amphenol by 22.3% in the third quarter. Advisors Asset Management Inc. now owns 106,899 shares of the electronics maker’s stock worth $6,966,000 after buying an additional 19,496 shares during the period. Finally, LMR Partners LLP boosted its position in Amphenol by 315.1% during the 3rd quarter. LMR Partners LLP now owns 294,800 shares of the electronics maker’s stock valued at $19,209,000 after acquiring an additional 223,784 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Amphenol Stock Performance

Shares of APH opened at $72.69 on Friday. The company has a market cap of $87.64 billion, a price-to-earnings ratio of 41.78, a P/E/G ratio of 2.42 and a beta of 1.23. The business’s fifty day simple moving average is $68.51 and its two-hundred day simple moving average is $66.68. Amphenol Co. has a 12 month low of $45.01 and a 12 month high of $74.93. 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 (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the company posted $0.39 earnings per share. The company’s quarterly revenue was up 26.3% on a year-over-year basis. Research analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.91%. Amphenol’s dividend payout ratio (DPR) is 37.93%.

Insider Activity at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. This represents a 31.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David M. Silverman sold 180,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.84, for a total value of $12,391,200.00. Following the completion of the transaction, the vice president now directly owns 14,000 shares in the company, valued at $963,760. The trade was a 92.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,842,672 shares of company stock worth $128,858,080 over the last quarter. Company insiders own 1.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on APH. Bank of America raised their target price on Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Evercore ISI raised their price objective on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen increased their price target on shares of Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Robert W. Baird upped their price objective on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Truist Financial lifted their target price on shares of Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Amphenol currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.63.

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.