Caxton Associates LP Takes Position in Amphenol Co. (NYSE:APH)

Caxton Associates LP purchased a new position in shares of Amphenol Co. (NYSE:APH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 63,980 shares of the electronics maker’s stock, valued at approximately $4,310,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp grew its stake in shares of Amphenol by 61.1% during the second 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 last quarter. United Services Automobile Association increased its stake in Amphenol by 102.0% in the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock worth $2,154,000 after purchasing an additional 16,149 shares during the period. Choreo LLC boosted its stake in shares of Amphenol by 556.7% during the second quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock valued at $2,732,000 after purchasing an additional 34,309 shares during the period. Angeles Wealth Management LLC boosted its position 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 buying an additional 1,936 shares during the period. Finally, Federated Hermes Inc. grew its stake in Amphenol by 4,215.3% in the 2nd 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 in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

APH has been the subject of a number of research reports. Stifel Nicolaus reiterated a “hold” rating on shares of Amphenol in a report on Thursday, June 13th. Citigroup raised their price target on Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Evercore ISI restated an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. TD Cowen increased their target price on shares of Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Finally, Robert W. Baird reduced their price target on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a report 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.04.

Amphenol Stock Up 0.7 %

APH stock opened at $66.16 on Wednesday. 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 stock has a market capitalization of $79.68 billion, a PE ratio of 40.47, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24. The firm has a 50 day moving average of $63.96 and a 200 day moving average of $63.23.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates 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 earnings per share. Sell-side analysts forecast that Amphenol Co. will post 1.76 earnings per share for the current year.

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is 40.37%.

Insider Activity at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other 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 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. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William J. Doherty sold 300,000 shares of Amphenol stock in a transaction that occurred on Thursday, August 15th. The shares were 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. Insiders have sold a total of 1,516,000 shares of company stock worth $98,236,640 over the last quarter. 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.