Country Trust Bank Decreases Stock Position in Amphenol Co. (NYSE:APH)

Country Trust Bank lowered its position in Amphenol Co. (NYSE:APH) by 3.7% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 887,170 shares of the electronics maker’s stock after selling 34,027 shares during the period. Amphenol accounts for approximately 1.4% of Country Trust Bank’s portfolio, making the stock its 19th biggest holding. Country Trust Bank owned approximately 0.07% of Amphenol worth $57,808,000 at the end of the most recent quarter.

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

Amphenol Stock Performance

Shares of Amphenol stock opened at $64.32 on Wednesday. The firm has a market capitalization of $77.26 billion, a P/E ratio of 39.46, a P/E/G ratio of 2.59 and a beta of 1.24. 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 52 week low of $39.34 and a 52 week high of $70.84. The firm’s 50 day moving average is $63.89 and its two-hundred day moving average is $63.76.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 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 firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period last year, the business earned $0.72 EPS. Amphenol’s revenue for the quarter was up 18.2% compared to the same quarter last year. Research analysts forecast 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 paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a yield of 1.03%. Amphenol’s dividend payout ratio is presently 40.49%.

Analyst Ratings Changes

Several research firms recently issued reports on APH. Bank of America downgraded 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 report on Wednesday, September 4th. Evercore ISI reissued an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Vertical Research initiated coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price on the stock. Robert W. Baird cut their price objective on Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Finally, UBS Group lifted their target price on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.58.

Insiders Place Their Bets

In other news, VP Lance E. D’amico sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the transaction, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,373,382. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Amphenol news, insider Luc Walter sold 170,000 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $64.10, for a total transaction 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 approximately $28,703,339. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lance E. D’amico sold 100,000 shares of the business’s 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 directly owns 51,400 shares in the company, valued at approximately $3,373,382. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,516,000 shares of company stock valued at $98,236,640 over the last quarter. Company insiders own 1.80% of the company’s stock.

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.