Marietta Investment Partners LLC Grows Stock Holdings in Amphenol Co. (NYSE:APH)

Marietta Investment Partners LLC increased its stake in shares of Amphenol Co. (NYSE:APH) by 86.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,122 shares of the electronics maker’s stock after buying an additional 18,591 shares during the period. Marietta Investment Partners LLC’s holdings in Amphenol were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. 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 valued at $2,468,301,000 after purchasing an additional 17,552,921 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Amphenol by 69.1% in the second 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Amphenol by 39.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock valued at $2,899,059,000 after purchasing an additional 8,340,759 shares in the last quarter. Mawer Investment Management Ltd. lifted its holdings in shares of Amphenol by 88.9% in 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. Finally, National Bank of Canada FI lifted its holdings in shares of Amphenol by 263.0% in the second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock valued at $240,935,000 after purchasing an additional 2,585,282 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on APH. Citigroup upped their price target on shares of Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. Bank of America lowered shares of Amphenol from a “buy” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $71.00 in a research report on Wednesday, September 4th. Evercore ISI reissued an “outperform” rating on shares of Amphenol in a research report on Thursday, June 13th. Vertical Research assumed coverage on shares of Amphenol in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price objective for the company. Finally, TD Cowen boosted their price objective on shares of Amphenol from $45.00 to $57.50 and gave the company a “hold” rating in a research report on Thursday, June 6th. 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 stock. According to MarketBeat, Amphenol presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.04.

Amphenol Stock Performance

Shares of APH stock opened at $65.91 on Monday. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The company has a 50 day moving average price of $64.13 and a 200 day moving average price of $63.08. The firm has a market capitalization of $79.17 billion, a price-to-earnings ratio of 40.44, a price-to-earnings-growth ratio of 2.45 and a beta of 1.24.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. Sell-side analysts anticipate 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. Stockholders of record on Tuesday, September 17th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.00%. The ex-dividend date is Tuesday, September 17th. Amphenol’s payout ratio is currently 40.49%.

Insider Transactions at Amphenol

In other news, CEO Richard Adam Norwitt sold 750,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Richard Adam Norwitt sold 750,000 shares of the stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the completion of the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at $3,323,010. The disclosure for this sale can be found here. Insiders sold 1,516,000 shares of company stock valued at $98,236,640 over the last 90 days. Corporate insiders own 1.80% of the company’s stock.

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.