United Services Automobile Association Decreases Position in Amphenol Co. (NYSE:APH)

United Services Automobile Association cut its position in Amphenol Co. (NYSE:APH) by 15.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 27,056 shares of the electronics maker’s stock after selling 4,924 shares during the period. United Services Automobile Association’s holdings in Amphenol were worth $1,763,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. State Street Corp raised its holdings in Amphenol by 3.0% in 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 last quarter. Bank of New York Mellon Corp raised its holdings in shares of Amphenol by 92.0% during the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after purchasing an additional 17,552,921 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Amphenol by 69.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock valued at $1,564,711,000 after purchasing an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. raised its holdings in shares of Amphenol by 88.9% during the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after purchasing an additional 7,275,279 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Amphenol by 116.6% during the second 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 during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on APH shares. TD Cowen boosted their price objective on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 25th. Robert W. Baird boosted their price objective on shares of Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Truist Financial boosted their price objective on shares of Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Evercore ISI boosted 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. Finally, Bank of America boosted their target price on shares of Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Five investment 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, Amphenol currently has an average rating of “Moderate Buy” and an average price target of $69.63.

Amphenol Stock Performance

APH opened at $74.21 on Friday. The firm has a market cap of $89.47 billion, a P/E ratio of 42.65, a PEG ratio of 2.47 and a beta of 1.24. Amphenol Co. has a 1-year low of $45.92 and a 1-year high of $74.93. The company has a 50 day simple moving average of $69.34 and a two-hundred day simple moving average of $66.96. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.81 billion. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The company’s revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 earnings per share. Equities analysts forecast that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.89%. Amphenol’s dividend payout ratio is 37.93%.

Insider Buying and Selling

In related news, CFO Craig A. Lampo sold 150,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the completion of the transaction, the chief financial officer now owns 218,116 shares in the company, valued at approximately $14,997,656.16. This represents a 40.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. This represents a 31.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is owned by insiders.

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.