Raymond James & Associates Acquires 108,965 Shares of Amphenol Co. (NYSE:APH)

Raymond James & Associates lifted its stake in Amphenol Co. (NYSE:APH) by 31.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 454,515 shares of the electronics maker’s stock after purchasing an additional 108,965 shares during the period. Raymond James & Associates’ holdings in Amphenol were worth $29,616,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after acquiring an additional 17,552,921 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Amphenol by 69.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock worth $1,564,711,000 after purchasing an additional 9,487,387 shares during the period. Mawer Investment Management Ltd. boosted its stake in shares of Amphenol by 88.9% during 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. Legal & General Group Plc increased its holdings in Amphenol by 116.6% during the second quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after buying an additional 5,293,292 shares during the period. Finally, National Bank of Canada FI raised its stake in 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 worth $240,935,000 after buying an additional 2,585,282 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling at Amphenol

In other news, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.65, for a total value of $5,818,500.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at $3,323,010. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Lance E. D’amico sold 90,000 shares of the 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 sale, the vice president now directly owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction dated 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 transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $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 quarter, insiders sold 1,516,000 shares of company stock worth $98,236,640. Insiders own 1.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Vertical Research began coverage on Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target on the stock. Bank of America reduced their target price on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. 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 report on Wednesday, July 10th. Robert W. Baird reduced their price objective on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Finally, Truist Financial raised their price objective on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Five research 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.50.

Amphenol Stock Performance

APH opened at $68.47 on Thursday. 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 Co. has a 12-month low of $39.34 and a 12-month high of $71.20. The firm has a 50 day moving average of $64.96 and a two-hundred day moving average of $64.47. The firm has a market capitalization of $82.25 billion, a PE ratio of 42.01, a P/E/G ratio of 2.56 and a beta of 1.24.

Amphenol (NYSE:APH) last issued its earnings results 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. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.72 earnings per share. On average, analysts anticipate that Amphenol Co. will post 1.76 EPS for the current year.

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.