Kentucky Retirement Systems Buys 44,964 Shares of Amphenol Co. (NYSE:APH)

Kentucky Retirement Systems grew its stake in shares of Amphenol Co. (NYSE:APH) by 98.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,519 shares of the electronics maker’s stock after acquiring an additional 44,964 shares during the period. Kentucky Retirement Systems’ holdings in Amphenol were worth $6,098,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of APH. Sienna Gestion purchased a new position in shares of Amphenol during the second quarter valued at $7,183,000. Seven Eight Capital LP lifted its position in shares of Amphenol by 377.7% in the 2nd quarter. Seven Eight Capital LP now owns 39,543 shares of the electronics maker’s stock worth $2,664,000 after purchasing an additional 31,265 shares during the period. Hsbc Holdings PLC increased its holdings in Amphenol by 90.9% during the second quarter. Hsbc Holdings PLC now owns 2,694,027 shares of the electronics maker’s stock valued at $181,750,000 after buying an additional 1,283,019 shares during the period. Beck Bode LLC raised its stake in Amphenol by 119.0% in the second quarter. Beck Bode LLC now owns 20,099 shares of the electronics maker’s stock worth $1,354,000 after buying an additional 10,922 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Amphenol by 88.6% during the second quarter. Elo Mutual Pension Insurance Co now owns 103,080 shares of the electronics maker’s stock worth $6,944,000 after buying an additional 48,411 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Price Performance

Shares of APH opened at $63.30 on Thursday. The firm has a market capitalization of $76.04 billion, a PE ratio of 38.83, 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. The company’s fifty day moving average price is $64.29 and its 200-day moving average price is $62.88. Amphenol Co. has a 1-year low of $39.34 and a 1-year high of $70.84.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company earned $0.72 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. On average, equities research analysts predict that Amphenol Co. will post 1.76 EPS for the current year.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s payout ratio is 40.49%.

Insider Activity

In related news, CEO Richard Adam Norwitt sold 750,000 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $124,875,089.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $124,875,089.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Luc Walter sold 106,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.19, for a total value of $6,804,140.00. Following the completion of the sale, the insider now owns 447,790 shares in the company, valued at approximately $28,743,640.10. The disclosure for this sale can be found here. Insiders have sold 1,516,000 shares of company stock valued at $98,236,640 in the last ninety days. Insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. UBS Group lifted their price target on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America downgraded shares of Amphenol from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $80.00 to $71.00 in a report on Wednesday, September 4th. Evercore ISI restated an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Truist Financial boosted their price objective 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. Finally, Vertical Research initiated coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price for the company. Six investment 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 company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $65.04.

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.