Norway Savings Bank Raises Holdings in Amphenol Co. (NYSE:APH)

Norway Savings Bank grew its position in shares of Amphenol Co. (NYSE:APH) by 4.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,631 shares of the electronics maker’s stock after buying an additional 1,100 shares during the period. Amphenol accounts for 1.3% of Norway Savings Bank’s investment portfolio, making the stock its 25th largest position. Norway Savings Bank’s holdings in Amphenol were worth $2,347,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Czech National Bank increased its stake in Amphenol by 0.6% in the 2nd quarter. Czech National Bank now owns 70,473 shares of the electronics maker’s stock worth $5,987,000 after acquiring an additional 426 shares during the last quarter. AE Wealth Management LLC increased its stake in Amphenol by 801.9% in the 2nd quarter. AE Wealth Management LLC now owns 54,790 shares of the electronics maker’s stock worth $4,654,000 after acquiring an additional 48,715 shares during the last quarter. Harbour Capital Advisors LLC increased its stake in Amphenol by 9.1% in the 2nd quarter. Harbour Capital Advisors LLC now owns 14,958 shares of the electronics maker’s stock worth $1,258,000 after acquiring an additional 1,243 shares during the last quarter. SG Americas Securities LLC increased its stake in Amphenol by 232.3% in the 2nd quarter. SG Americas Securities LLC now owns 37,592 shares of the electronics maker’s stock worth $3,193,000 after acquiring an additional 26,280 shares during the last quarter. Finally, DNB Asset Management AS increased its stake in Amphenol by 7.0% in the 2nd quarter. DNB Asset Management AS now owns 984,678 shares of the electronics maker’s stock worth $83,648,000 after acquiring an additional 64,189 shares during the last quarter. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on APH. Truist Financial increased their price objective on Amphenol from $93.00 to $101.00 and gave the company a “buy” rating in a research report on Thursday, July 27th. Robert W. Baird increased their price objective on Amphenol from $89.00 to $100.00 in a research report on Thursday, July 27th. StockNews.com began coverage on Amphenol in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Bank of America increased their price objective on Amphenol from $90.00 to $100.00 in a research report on Thursday, July 27th. Finally, UBS Group increased their price objective on Amphenol from $88.00 to $103.00 and gave the company a “buy” rating in a research report on Monday, August 7th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.25.

Insiders Place Their Bets

In other Amphenol news, insider William J. Doherty sold 50,000 shares of Amphenol stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $88.57, for a total value of $4,428,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amphenol news, CEO Richard Adam Norwitt sold 650,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 967,424 shares of the company’s stock, valued at $84,581,880.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider William J. Doherty sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $88.57, for a total value of $4,428,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,339,962 shares of company stock valued at $117,480,732. Corporate insiders own 2.22% of the company’s stock.

Amphenol Stock Down 0.9 %

Shares of APH traded down $0.79 on Friday, reaching $85.72. The stock had a trading volume of 2,846,256 shares, compared to its average volume of 2,532,805. The firm has a market capitalization of $51.13 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 3.40 and a beta of 1.24. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.60 and a current ratio of 2.33. The company has a 50-day simple moving average of $86.67 and a 200-day simple moving average of $81.16. Amphenol Co. has a 12-month low of $65.21 and a 12-month high of $90.28.

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

Amphenol Announces Dividend

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

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.