Bridges Investment Management Inc. Cuts Stock Position in Amphenol Co. (NYSE:APH)

Bridges Investment Management Inc. lessened its stake in Amphenol Co. (NYSE:APH) by 6.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,134 shares of the electronics maker’s stock after selling 730 shares during the quarter. Bridges Investment Management Inc.’s holdings in Amphenol were worth $861,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of APH. Moors & Cabot Inc. bought a new stake in shares of Amphenol in the first quarter worth about $227,000. Caprock Group LLC grew its holdings in shares of Amphenol by 5.8% in the first quarter. Caprock Group LLC now owns 9,861 shares of the electronics maker’s stock valued at $808,000 after purchasing an additional 538 shares in the last quarter. Claro Advisors LLC purchased a new stake in Amphenol during the fourth quarter valued at $450,000. Wellington Management Group LLP lifted its position in Amphenol by 1.5% during the first quarter. Wellington Management Group LLP now owns 1,173,690 shares of the electronics maker’s stock valued at $95,914,000 after purchasing an additional 17,265 shares during the last quarter. Finally, Xponance Inc. grew its stake in shares of Amphenol by 2.0% in the 1st quarter. Xponance Inc. now owns 114,206 shares of the electronics maker’s stock worth $9,333,000 after buying an additional 2,255 shares in the last quarter. 93.46% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Down 0.9 %

Shares of NYSE:APH opened at $85.70 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.33 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average is $86.63 and its 200 day moving average is $81.07. The stock has a market cap of $51.12 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 3.40 and a beta of 1.24. Amphenol Co. has a 52-week low of $65.21 and a 52-week high of $90.28.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, July 26th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. Amphenol had a return on equity of 25.85% and a net margin of 15.15%. The firm had revenue of $3.05 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period in the previous year, the company posted $0.75 earnings per share. The firm’s quarterly revenue was down 2.6% on a year-over-year basis. Sell-side analysts predict that Amphenol Co. will post 2.92 EPS for the current year.

Amphenol Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Stockholders of record on Tuesday, September 19th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, September 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.98%. Amphenol’s dividend payout ratio is presently 27.36%.

Insider Activity at Amphenol

In related news, CEO Richard Adam Norwitt sold 650,000 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $87.43, for a total transaction of $56,829,500.00. Following the completion of the sale, the chief executive officer now directly owns 967,424 shares in the company, valued at approximately $84,581,880.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Lance E. D’amico sold 75,000 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $88.71, for a total value of $6,653,250.00. Following the completion of the sale, the vice president now owns 25,700 shares of the company’s stock, valued at approximately $2,279,847. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Adam Norwitt sold 650,000 shares of the stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $87.43, for a total value of $56,829,500.00. Following the completion of the sale, the chief executive officer now owns 967,424 shares of the company’s stock, valued at $84,581,880.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,339,962 shares of company stock valued at $117,480,732 over the last ninety days. 2.22% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America lifted their price target on Amphenol from $90.00 to $100.00 in a research report on Thursday, July 27th. Truist Financial boosted their target price on Amphenol from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Stifel Nicolaus raised their price target on Amphenol from $80.00 to $88.00 in a research report on Thursday, July 27th. Robert W. Baird raised their target price on shares of Amphenol from $89.00 to $100.00 in a report on Thursday, July 27th. Finally, UBS Group raised their price objective on shares of Amphenol from $88.00 to $103.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Amphenol presently has a consensus rating of “Moderate Buy” and an average price target of $94.25.

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.