Patton Fund Management Inc. Purchases Shares of 69,410 Amphenol Co. (NYSE:APH)

Patton Fund Management Inc. bought a new position in shares of Amphenol Co. (NYSE:APH) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 69,410 shares of the electronics maker’s stock, valued at approximately $4,523,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Texas Permanent School Fund Corp grew its position in shares of Amphenol by 61.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock worth $13,458,000 after purchasing an additional 75,753 shares in the last quarter. United Services Automobile Association grew its position in shares of Amphenol by 102.0% during the 2nd 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 in the last quarter. Choreo LLC grew its position in shares of Amphenol by 556.7% during the 2nd quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock worth $2,732,000 after purchasing an additional 34,309 shares in the last quarter. Angeles Wealth Management LLC grew its position in shares of Amphenol by 102.4% during the 2nd quarter. Angeles Wealth Management LLC now owns 3,826 shares of the electronics maker’s stock worth $258,000 after purchasing an additional 1,936 shares in the last quarter. Finally, Czech National Bank grew its position in shares of Amphenol by 7.2% during the 3rd quarter. Czech National Bank now owns 245,326 shares of the electronics maker’s stock worth $15,985,000 after purchasing an additional 16,425 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Amphenol Price Performance

NYSE:APH traded up $0.98 on Thursday, hitting $67.98. The company had a trading volume of 2,782,301 shares, compared to its average volume of 6,530,600. The firm has a 50 day moving average of $64.56 and a two-hundred day moving average of $64.12. The stock has a market capitalization of $81.66 billion, a price-to-earnings ratio of 41.10, a PEG ratio of 2.56 and a beta of 1.24. Amphenol Co. has a 52 week low of $39.34 and a 52 week high of $70.84. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 earnings per share. On average, research analysts anticipate that Amphenol Co. will post 1.76 earnings per share for the current year.

Amphenol Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Tuesday, September 17th. Amphenol’s payout ratio is currently 40.49%.

Analyst Ratings Changes

A number of brokerages have issued reports on APH. Robert W. Baird decreased their target price on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Truist Financial increased their price target on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. UBS Group increased their price target on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Bank of America reduced their price target on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Vertical Research started coverage on shares of Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amphenol has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Insider Activity

In other news, VP Lance E. D’amico sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the completion of the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,373,382. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the completion of the transaction, the vice president now owns 51,400 shares of the company’s stock, valued at $3,323,010. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Lance E. D’amico sold 100,000 shares of Amphenol stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the transaction, the vice president now directly owns 51,400 shares of the company’s stock, valued at $3,373,382. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. 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.