Cornercap Investment Counsel Inc. Buys 1,530 Shares of Amphenol Co. (NYSE:APH)

Cornercap Investment Counsel Inc. boosted its stake in shares of Amphenol Co. (NYSE:APH) by 51.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,500 shares of the electronics maker’s stock after purchasing an additional 1,530 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Amphenol were worth $303,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Beacon Capital Management LLC grew its stake in shares of Amphenol by 121.2% in the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after buying an additional 206 shares in the last quarter. New England Capital Financial Advisors LLC increased its stake in shares of Amphenol by 100.0% during the 2nd 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 raised its holdings in shares of Amphenol by 131.1% in the 2nd quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 249 shares during the period. Frazier Financial Advisors LLC acquired a new stake in Amphenol in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC bought a new position in Amphenol during the second quarter worth about $29,000. 97.01% of the stock is currently owned by institutional investors.

Insider Activity at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $64.54, for a total value of $48,405,000.00. Following the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Lance E. D’amico sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value of $6,563,000.00. Following the completion of the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,373,382. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard Adam Norwitt sold 750,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at approximately $124,875,089.92. The disclosure for this sale can be found here. Insiders have sold 1,516,000 shares of company stock valued at $98,236,640 over the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Seaport Res Ptn raised Amphenol to a “strong-buy” rating in a research report on Monday, May 20th. Stifel Nicolaus reiterated a “hold” rating on shares of Amphenol in a report on Thursday, June 13th. Truist Financial raised their target price on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Robert W. Baird lowered their price target on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, TD Cowen boosted their price objective on Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $65.04.

Amphenol Price Performance

Amphenol stock opened at $63.58 on Friday. The stock’s fifty day moving average price is $64.61 and its two-hundred day moving average price is $62.70. The firm has a market cap of $76.57 billion, a PE ratio of 38.89, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. Amphenol’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. As a group, research 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 will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.04%. Amphenol’s dividend payout ratio is 26.91%.

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.