Investment Management Corp of Ontario Decreases Holdings in Amphenol Co. (NYSE:APH)

Investment Management Corp of Ontario decreased its position in shares of Amphenol Co. (NYSE:APH) by 1.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,359 shares of the electronics maker’s stock after selling 587 shares during the period. Investment Management Corp of Ontario’s holdings in Amphenol were worth $2,733,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APH. Norges Bank purchased a new stake in Amphenol during the fourth quarter valued at approximately $1,378,794,000. Bank of America Corp DE lifted its position in Amphenol by 294.0% during the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker’s stock valued at $1,733,027,000 after acquiring an additional 18,619,417 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Amphenol by 36.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker’s stock valued at $4,091,426,000 after acquiring an additional 15,837,407 shares during the last quarter. Wellington Management Group LLP lifted its position in Amphenol by 619.9% during the fourth quarter. Wellington Management Group LLP now owns 7,014,111 shares of the electronics maker’s stock valued at $487,130,000 after acquiring an additional 6,039,845 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its position in Amphenol by 118.4% during the fourth quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker’s stock valued at $503,975,000 after acquiring an additional 3,933,269 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Activity

In other news, VP Lance E. D’amico sold 175,000 shares of Amphenol stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $76.28, for a total value of $13,349,000.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at $3,920,792. This trade represents a 77.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Craig A. Lampo sold 400,000 shares of Amphenol stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $75.93, for a total transaction of $30,372,000.00. Following the completion of the sale, the chief financial officer now owns 100,000 shares in the company, valued at approximately $7,593,000. This trade represents a 80.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,178,500 shares of company stock worth $241,903,805 over the last 90 days. 1.67% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on APH shares. Robert W. Baird lifted their price objective on shares of Amphenol from $73.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Truist Financial lifted their price objective on shares of Amphenol from $90.00 to $102.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. Citigroup lifted their price objective on shares of Amphenol from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Bank of America lifted their price objective on shares of Amphenol from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Amphenol from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $81.62.

Amphenol Trading Up 0.2%

Shares of Amphenol stock opened at $80.78 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 1.75. The firm has a fifty day moving average price of $68.09 and a 200 day moving average price of $69.84. Amphenol Co. has a 1 year low of $54.77 and a 1 year high of $84.70. The stock has a market cap of $97.71 billion, a PE ratio of 42.18, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The company had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 47.7% on a year-over-year basis. Equities research analysts predict that Amphenol Co. will post 2.36 earnings per share for the current year.

Amphenol Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.82%. Amphenol’s payout ratio is 32.04%.

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.