Nippon Life Global Investors Americas Inc. Acquires 70,940 Shares of Amphenol Co. (NYSE:APH)

Nippon Life Global Investors Americas Inc. lifted its holdings in shares of Amphenol Co. (NYSE:APH) by 90.5% in the second quarter, according to its most recent filing with the SEC. The firm owned 149,320 shares of the electronics maker’s stock after acquiring an additional 70,940 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Amphenol were worth $10,075,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Beacon Capital Management LLC boosted its holdings in Amphenol by 121.2% during the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 206 shares in the last quarter. New England Capital Financial Advisors LLC boosted its stake in Amphenol by 100.0% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after buying an additional 188 shares in the last quarter. Sachetta LLC grew its position in Amphenol by 131.1% in the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 249 shares during the period. Opal Wealth Advisors LLC acquired a new position in Amphenol during the second quarter worth $29,000. Finally, New Millennium Group LLC bought a new position in shares of Amphenol during the second quarter valued at $31,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Amphenol

In other Amphenol 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 transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at $124,875,089.92. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol 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 transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total transaction of $19,749,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of the stock is owned by insiders.

Amphenol Price Performance

Shares of APH stock opened at $65.91 on Monday. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. Amphenol Co. has a 12 month low of $39.34 and a 12 month high of $70.84. The firm has a market cap of $79.17 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 2.45 and a beta of 1.24. The stock has a 50-day moving average price of $64.13 and a 200 day moving average price of $63.08.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted $0.72 earnings per share. Amphenol’s revenue for the quarter was up 18.2% compared to the same quarter last year. Research analysts expect that Amphenol Co. will post 1.76 EPS for the current year.

Amphenol Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.165 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.00%. Amphenol’s dividend payout ratio (DPR) is presently 40.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on APH shares. Citigroup upped their target price on shares of Amphenol from $67.50 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. TD Cowen raised their price objective on shares of Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Vertical Research began coverage on Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price on the stock. Bank of America cut Amphenol from a “buy” rating to a “neutral” rating and dropped their price target for the company from $80.00 to $71.00 in a report on Wednesday, September 4th. Finally, Robert W. Baird cut their price objective on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Amphenol presently has a consensus rating of “Moderate Buy” and an average 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.