Wedge Capital Management L L P NC lowered its stake in Amphenol Co. (NYSE:APH - Free Report) by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 909,370 shares of the electronics maker's stock after selling 21,421 shares during the period. Amphenol comprises 1.1% of Wedge Capital Management L L P NC's investment portfolio, making the stock its 21st biggest position. Wedge Capital Management L L P NC owned approximately 0.08% of Amphenol worth $63,156,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in APH. State Street Corp increased its stake in shares of Amphenol by 3.0% during the third quarter. State Street Corp now owns 53,534,216 shares of the electronics maker's stock worth $3,496,777,000 after buying an additional 1,537,880 shares during the period. Geode Capital Management LLC increased its position in shares of Amphenol by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 24,666,093 shares of the electronics maker's stock valued at $1,601,540,000 after purchasing an additional 564,991 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Amphenol by 116.6% in the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker's stock valued at $662,458,000 after purchasing an additional 5,293,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Amphenol by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,558,670 shares of the electronics maker's stock worth $427,363,000 after purchasing an additional 63,180 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Amphenol by 25.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,329,913 shares of the electronics maker's stock worth $347,297,000 after purchasing an additional 1,073,480 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.
In other news, insider Peter Straub sold 132,000 shares of the company's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $74.12, for a total transaction of $9,783,840.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David M. Silverman sold 180,000 shares of the firm's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total transaction of $12,391,200.00. Following the completion of the sale, the vice president now owns 14,000 shares of the company's stock, valued at $963,760. This trade represents a 92.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,842,672 shares of company stock valued at $128,858,080 over the last quarter. Corporate insiders own 1.80% of the company's stock.
Shares of APH opened at $69.44 on Friday. The company has a market capitalization of $83.71 billion, a price-to-earnings ratio of 39.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. Amphenol Co. has a fifty-two week low of $47.76 and a fifty-two week high of $75.78. The firm has a 50-day simple moving average of $71.91 and a 200-day simple moving average of $67.73. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99.
Amphenol (NYSE:APH - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.05. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period last year, the business posted $0.39 EPS. The company's revenue was up 26.3% on a year-over-year basis. On average, equities research analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.95%. Amphenol's payout ratio is currently 37.93%.
A number of analysts have weighed in on the company. Citigroup raised their price target on Amphenol from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Friday. TD Cowen boosted their target price on Amphenol from $60.00 to $63.00 and gave the stock a "hold" rating in a research note on Friday, October 25th. Truist Financial increased their price target on shares of Amphenol from $76.00 to $82.00 and gave the company a "buy" rating in a research note on Thursday, October 24th. Bank of America boosted their price objective on shares of Amphenol from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. Finally, Evercore ISI increased their target price on shares of Amphenol from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $69.79.
View Our Latest Stock Analysis on APH
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.
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