AGF Management Ltd. Cuts Stock Holdings in Amphenol Co. (NYSE:APH)

AGF Management Ltd. reduced its position in shares of Amphenol Co. (NYSE:APH) by 10.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 328,524 shares of the electronics maker’s stock after selling 38,234 shares during the period. AGF Management Ltd.’s holdings in Amphenol were worth $22,133,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in Amphenol in the fourth quarter valued at about $263,000. Avantax Advisory Services Inc. increased its holdings in Amphenol by 3.5% in the fourth quarter. Avantax Advisory Services Inc. now owns 26,930 shares of the electronics maker’s stock valued at $2,670,000 after buying an additional 899 shares in the last quarter. Quotient Wealth Partners LLC purchased a new position in Amphenol in the fourth quarter valued at about $482,000. Janney Montgomery Scott LLC increased its holdings in Amphenol by 6.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 150,596 shares of the electronics maker’s stock valued at $14,929,000 after buying an additional 8,575 shares in the last quarter. Finally, Fiera Capital Corp increased its holdings in Amphenol by 4.7% in the fourth quarter. Fiera Capital Corp now owns 468,773 shares of the electronics maker’s stock valued at $46,469,000 after buying an additional 20,848 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

APH has been the subject of a number of research analyst reports. Bank of America cut shares of Amphenol from a “buy” rating to a “neutral” rating and dropped their target price for the company from $80.00 to $71.00 in a report on Wednesday, September 4th. 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 research note on Thursday, June 6th. Evercore ISI reissued an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Truist Financial raised their price objective on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, UBS Group raised their price objective on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.04.

Insider Transactions at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction that occurred 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 filing with the SEC, which is available at this link. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the business’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 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 dated Thursday, August 15th. The stock was sold at an average price of $65.83, for a total value of $19,749,000.00. 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. 1.80% of the stock is currently owned by company insiders.

Amphenol Trading Up 2.1 %

Shares of APH stock opened at $62.04 on Thursday. Amphenol Co. has a 1-year low of $39.34 and a 1-year high of $70.84. The firm’s 50-day simple moving average is $64.79 and its 200-day simple moving average is $62.57. The firm has a market cap of $74.71 billion, a P/E ratio of 37.95, a PEG ratio of 2.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The company 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 business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 EPS. As a group, equities analysts forecast that Amphenol Co. will post 1.76 EPS for the current year.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio is currently 26.91%.

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.