DnB Asset Management AS Sells 22,675 Shares of Amphenol Co. (NYSE:APH)

DnB Asset Management AS reduced its stake in shares of Amphenol Co. (NYSE:APH) by 3.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 726,956 shares of the electronics maker’s stock after selling 22,675 shares during the quarter. DnB Asset Management AS owned 0.06% of Amphenol worth $50,487,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Amphenol in the 4th quarter valued at approximately $1,378,794,000. Madison Investment Advisors LLC purchased a new stake in shares of Amphenol in the 4th quarter worth approximately $157,749,000. Vanguard Group Inc. raised its stake in Amphenol by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 152,127,847 shares of the electronics maker’s stock valued at $10,565,279,000 after buying an additional 2,108,578 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in Amphenol by 89.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 4,303,215 shares of the electronics maker’s stock worth $280,397,000 after acquiring an additional 2,032,402 shares in the last quarter. Finally, Two Sigma Advisers LP purchased a new stake in shares of Amphenol in the third quarter worth $113,828,000. Institutional investors own 97.01% of the company’s stock.

Amphenol Trading Up 1.0 %

NYSE APH opened at $68.27 on Friday. The company’s 50-day simple moving average is $67.92 and its two-hundred day simple moving average is $68.68. Amphenol Co. has a one year low of $54.72 and a one year high of $79.39. The company has a market capitalization of $82.73 billion, a price-to-earnings ratio of 35.65, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.75 and a current ratio of 2.37.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.05. The business had revenue of $4.32 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.82 EPS. Equities analysts forecast that Amphenol Co. will post 2.36 EPS for the current fiscal year.

Amphenol Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 18th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Tuesday, March 18th. Amphenol’s payout ratio is currently 34.55%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Amphenol from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Truist Financial lifted their target price on Amphenol from $90.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. The Goldman Sachs Group upped their price target on Amphenol from $79.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Citigroup raised their target price on shares of Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Finally, Robert W. Baird lifted their price objective on Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $80.68.

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.