LGT Fund Management Co Ltd. increases stake in Amphenol Co. (NYSE:APH)

VaselineSeptember 11, 2024

0 4 minutes read

LGT Fund Management Co Ltd increased its stake in Amphenol Co. (NYSE:APH – Free Report) by 100.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,700 shares of the electronics maker’s stock after acquiring an additional 2,350 shares during the quarter. LGT Fund Management Co Ltd.’s holdings in Amphenol were worth $317,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Frazier Financial Advisors LLC purchased a new stake in shares of Amphenol in the 4th quarter valued at $29,000. Beacon Capital Management LLC boosted its stake in Amphenol by 121.2% in the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 206 shares during the last quarter. New England Capital Financial Advisors LLC raised its stake in Amphenol by 100.0% in the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 188 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of Amphenol in the second quarter valued at $29,000. Finally, Brown Shipley& Co Ltd purchased a new stake in shares of Amphenol in the 1st quarter worth $52,000. 97.01% of shares are owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

A number of analysts have issued reports on APH shares. Robert W. Baird cut their price target on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Bank of America downgraded Amphenol from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $80.00 to $71.00 in a research report on Wednesday, 4 September. Seaport Res Ptn raised Amphenol to a “strong-buy” rating in a research report on Monday, May 20th. Citigroup raised their price objective on Amphenol from $67.50 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, May 28th. Finally, TD Cowen boosted their price objective on Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a research report on Thursday, June 6th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average price target of $65.04, according to MarketBeat.com.

Want more great investment ideas?

Check out our latest research report on Amphenol

Indoor activity

In other news, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $124,875,089.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. In other news, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.65, for a total value of $5,818,500.00. Following the completion of the transaction, the vice president now owns 51,400 shares in the company, valued at approximately $3,323,010. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible via this link. Also, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of shares are currently owned by company insiders.

Amphenol stock performance

Shares of Amphenol stock opened at $60.79 on Wednesday. The company has a 50-day moving average of $64.90 and a 200-day moving average of $62.57. Amphenol Co. has a 12-month low of $39.34 and a 12-month high of $70.84. The stock has a market cap of $73.21 billion, a price-to-earnings ratio of 37.18, a price-to-earnings-growth ratio of 2.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02, and a quick ratio of 1.32.

Amphenol (NYSE:APH – Get Free Report ) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.39 billion. During the same period last year, the business posted EPS of $0.72. Amphenol’s revenue for the quarter was up 18.2% year-over-year. As a group, sell-side analysts estimate that Amphenol Co. will post 1.76 earnings per share for the current year.

Amphenol cuts dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be paid a $0.165 dividend. This represents an annualized dividend of $0.66 and a dividend yield of 1.09%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s payout ratio is currently 26.91%.

Amphenol Company Profile

(Free Report)

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 systems and sensors.