Truist Financial Corp Has $12.36 Million Stake in Amphenol Co. (NYSE:APH)

Truist Financial Corp grew its position in Amphenol Co. (NYSE:APH) by 83.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 183,441 shares of the electronics maker’s stock after buying an additional 83,435 shares during the quarter. Truist Financial Corp’s holdings in Amphenol were worth $12,358,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Texas Permanent School Fund Corp lifted its stake in Amphenol by 61.1% during the second quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock worth $13,458,000 after purchasing an additional 75,753 shares during the last quarter. United Services Automobile Association grew its position in Amphenol by 102.0% in the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock valued at $2,154,000 after acquiring an additional 16,149 shares during the last quarter. Choreo LLC grew its position in Amphenol by 556.7% in the second quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock valued at $2,732,000 after acquiring an additional 34,309 shares during the last quarter. Angeles Wealth Management LLC raised its stake in Amphenol by 102.4% during the second quarter. Angeles Wealth Management LLC now owns 3,826 shares of the electronics maker’s stock worth $258,000 after acquiring an additional 1,936 shares in the last quarter. Finally, Federated Hermes Inc. lifted its holdings in shares of Amphenol by 4,215.3% in the second quarter. Federated Hermes Inc. now owns 117,678 shares of the electronics maker’s stock worth $7,928,000 after acquiring an additional 114,951 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on APH shares. Vertical Research assumed coverage on shares of Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price objective for the company. Truist Financial lifted their target price on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. UBS Group raised their price target on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Bank of America cut shares of Amphenol from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $80.00 to $71.00 in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amphenol presently has an average rating of “Moderate Buy” and an average price target of $65.04.

Insider Buying and Selling at Amphenol

In other news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Amphenol news, insider Luc Walter sold 170,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.10, for a total value of $10,897,000.00. Following the completion of the sale, the insider now directly owns 447,790 shares of the company’s stock, valued at $28,703,339. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard Adam Norwitt sold 750,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $124,875,089.92. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,516,000 shares of company stock worth $98,236,640. Insiders own 1.80% of the company’s stock.

Amphenol Stock Up 0.5 %

Amphenol stock opened at $62.38 on Friday. The firm has a market capitalization of $74.93 billion, a price-to-earnings ratio of 38.27, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24. The firm’s fifty day moving average price is $63.90 and its two-hundred day moving average price is $63.61. Amphenol Co. has a 1-year low of $39.34 and a 1-year high of $70.84. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, topping 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 firm had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company posted $0.72 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts predict that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s payout ratio is 40.49%.

Amphenol 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.