Sompo Asset Management Co. Ltd. Boosts Stock Position in Amphenol Co. (NYSE:APH)

Sompo Asset Management Co. Ltd. lifted its position in shares of Amphenol Co. (NYSE:APH) by 100.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,680 shares of the electronics maker’s stock after buying an additional 6,340 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Amphenol were worth $854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of APH. Great Lakes Advisors LLC purchased a new stake in shares of Amphenol in the 4th quarter valued at $214,000. D.A. Davidson & CO. purchased a new stake in Amphenol during the fourth quarter valued at about $239,000. Corient Private Wealth LLC grew its stake in shares of Amphenol by 228.5% during the fourth quarter. Corient Private Wealth LLC now owns 169,028 shares of the electronics maker’s stock valued at $16,756,000 after buying an additional 117,579 shares during the last quarter. Assetmark Inc. increased its holdings in shares of Amphenol by 13.6% in the fourth quarter. Assetmark Inc. now owns 15,464 shares of the electronics maker’s stock worth $1,533,000 after buying an additional 1,855 shares during the period. Finally, Frazier Financial Advisors LLC bought a new stake in shares of Amphenol in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on APH shares. Truist Financial lifted their price target on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Vertical Research started coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price on the stock. Citigroup increased their price target on shares of Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, May 28th. Bank of America cut shares of Amphenol from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $80.00 to $71.00 in a research report on Wednesday, September 4th. Finally, Robert W. Baird cut their target price on Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.04.

Insider Buying and Selling at Amphenol

In other news, insider Luc Walter sold 170,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 447,790 shares of the company’s stock, valued at approximately $28,703,339. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at approximately $124,875,089.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Luc Walter sold 170,000 shares of the company’s 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 transaction, the insider now owns 447,790 shares in the company, valued at approximately $28,703,339. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,516,000 shares of company stock valued at $98,236,640. Corporate insiders own 1.80% of the company’s stock.

Amphenol Stock Up 0.9 %

Shares of NYSE:APH opened at $65.91 on Friday. The firm has a market capitalization of $79.17 billion, a P/E ratio of 40.44, a P/E/G ratio of 2.45 and a beta of 1.24. 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 stock has a 50 day moving average price of $64.13 and a 200-day moving average price of $62.97. Amphenol Co. has a 52-week low of $39.34 and a 52-week high of $70.84.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.39 billion. During the same quarter last year, the firm posted $0.72 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, equities research analysts anticipate that Amphenol Co. will post 1.76 EPS for the current fiscal 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 issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is presently 40.49%.

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.