Platform Technology Partners Decreases Position in Amphenol Co. (NYSE:APH)

Platform Technology Partners decreased its holdings in shares of Amphenol Co. (NYSE:APH) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,535 shares of the electronics maker’s stock after selling 366 shares during the quarter. Platform Technology Partners’ holdings in Amphenol were worth $724,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. MCF Advisors LLC increased its position in Amphenol by 129.0% during the first quarter. MCF Advisors LLC now owns 300 shares of the electronics maker’s stock worth $25,000 after buying an additional 169 shares during the period. Manitou Investment Management Ltd. acquired a new position in Amphenol during the first quarter worth approximately $25,000. Creative Financial Designs Inc. ADV acquired a new position in Amphenol during the first quarter worth approximately $27,000. Aspire Private Capital LLC acquired a new position in Amphenol during the first quarter worth approximately $32,688,000,000. Finally, Sunbelt Securities Inc. acquired a new position in Amphenol during the first quarter worth approximately $33,000. Institutional investors and hedge funds own 93.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on APH shares. StockNews.com initiated coverage on Amphenol in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Bank of America boosted their target price on Amphenol from $90.00 to $100.00 in a report on Thursday, July 27th. Robert W. Baird boosted their target price on Amphenol from $89.00 to $100.00 in a report on Thursday, July 27th. Stifel Nicolaus boosted their target price on Amphenol from $80.00 to $88.00 in a report on Thursday, July 27th. Finally, Truist Financial boosted their target price on Amphenol from $93.00 to $101.00 and gave the company a “buy” rating in a report on Thursday, July 27th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Amphenol currently has a consensus rating of “Moderate Buy” and an average price target of $94.25.

Insiders Place Their Bets

In other news, insider William J. Doherty sold 50,000 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Lance E. D’amico sold 75,000 shares of the company’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 transaction, the vice president now directly owns 25,700 shares in the company, valued at $2,279,847. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider William J. Doherty sold 50,000 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were 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. Over the last ninety days, insiders have sold 1,339,962 shares of company stock worth $117,480,732. 2.22% of the stock is owned by corporate insiders.

Amphenol Price Performance

APH stock traded up $0.77 on Monday, reaching $86.49. 528,733 shares of the company’s stock were exchanged, compared to its average volume of 2,521,395. The stock has a fifty day moving average of $86.67 and a 200-day moving average of $81.18. 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 firm has a market cap of $51.59 billion, a PE ratio of 28.17, a P/E/G ratio of 3.40 and a beta of 1.24. Amphenol Co. has a twelve month low of $65.21 and a twelve month high of $90.28.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, July 26th. The electronics maker reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. The company had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $2.95 billion. Amphenol had a return on equity of 25.85% and a net margin of 15.15%. Amphenol’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. As a group, equities analysts predict that Amphenol Co. will post 2.92 EPS for the current fiscal year.

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Shareholders of record on Tuesday, September 19th will be given 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 yield of 0.97%. Amphenol’s payout ratio is 27.36%.

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.