Concentric Capital Strategies LP Lowers Holdings in Amphenol Co. (NYSE:APH)

Concentric Capital Strategies LP lowered its holdings in shares of Amphenol Co. (NYSE:APH) by 20.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 101,280 shares of the electronics maker’s stock after selling 25,818 shares during the period. Concentric Capital Strategies LP’s holdings in Amphenol were worth $6,599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in APH. Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 17,552,921 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Amphenol by 69.1% during the 2nd 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 purchasing an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. grew its position in shares of Amphenol by 88.9% during 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 purchasing an additional 7,275,279 shares in the last quarter. Legal & General Group Plc grew its position in shares of Amphenol by 116.6% during 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 purchasing an additional 5,293,292 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Amphenol by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,558,670 shares of the electronics maker’s stock worth $427,363,000 after purchasing an additional 63,180 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. TD Cowen raised their price target on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 25th. Evercore ISI raised their target price on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial upped their price target 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. Robert W. Baird increased their price objective on shares of Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Bank of America upped their target price on shares of Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Five investment 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. Based on data from MarketBeat, Amphenol currently has an average rating of “Moderate Buy” and an average price target of $69.63.

Insider Activity

In related news, VP David M. Silverman sold 180,000 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now owns 14,000 shares in the company, valued at $963,760. This represents a 92.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is currently owned by corporate insiders.

Amphenol Stock Down 0.1 %

Shares of NYSE APH opened at $72.65 on Monday. Amphenol Co. has a 1 year low of $45.01 and a 1 year high of $74.93. The firm has a 50-day simple moving average of $68.51 and a two-hundred day simple moving average of $66.71. The company has a market cap of $87.59 billion, a P/E ratio of 41.75, a PEG ratio of 2.42 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.81 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. Amphenol’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the company earned $0.39 EPS. Research analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current year.

Amphenol Dividend Announcement

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

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.