Point72 Asset Management L.P. Buys 1,332,298 Shares of Amphenol Co. (NYSE:APH)

Point72 Asset Management L.P. grew its stake in Amphenol Co. (NYSE:APH) by 151.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,210,672 shares of the electronics maker’s stock after buying an additional 1,332,298 shares during the period. Point72 Asset Management L.P. owned approximately 0.18% of Amphenol worth $144,047,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Beacon Capital Management LLC boosted its holdings in Amphenol by 121.2% during the 2nd quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 206 shares during the period. New England Capital Financial Advisors LLC grew its holdings in shares of Amphenol by 100.0% in the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 188 shares during the last quarter. Sachetta LLC increased its stake in shares of Amphenol by 131.1% in the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after buying an additional 249 shares during the period. Trifecta Capital Advisors LLC raised its holdings in Amphenol by 352.1% during the 3rd quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after buying an additional 338 shares during the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Amphenol in the 2nd quarter worth $29,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

APH has been the topic of several recent analyst reports. Evercore ISI raised their target price on Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen boosted their target price on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Bank of America raised their price target on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. 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 research note on Thursday, October 24th. Five equities 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 MarketBeat.com, Amphenol currently has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Insiders Place Their Bets

In other news, CFO Craig A. Lampo sold 150,000 shares of Amphenol stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the sale, the chief financial officer now owns 218,116 shares in the company, valued at $14,997,656.16. This trade represents a 40.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was 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 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,842,672 shares of company stock valued at $128,858,080. Insiders own 1.80% of the company’s stock.

Amphenol Price Performance

Shares of NYSE APH opened at $73.13 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99. The company has a 50 day simple moving average of $68.80 and a two-hundred day simple moving average of $66.81. Amphenol Co. has a fifty-two week low of $45.47 and a fifty-two week high of $74.93. The company has a market capitalization of $88.17 billion, a price-to-earnings ratio of 42.03, a P/E/G ratio of 2.43 and a beta of 1.24.

Amphenol (NYSE:APH) last released 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 return on equity of 24.68% and a net margin of 15.40%. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the company posted $0.39 earnings per share. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. Analysts expect that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.90%. Amphenol’s dividend payout ratio is currently 37.93%.

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.