Sompo Asset Management Co. Ltd. acquires 6,340 shares of Amphenol Co. (NYSE:APH)

VaselineSeptember 21, 2024

0 4 minutes read

Sompo Asset Management Co. Ltd. raised its stake in Amphenol Co shares. (NYSE:APH – Free Report) by 100.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 12,680 shares of the electronics maker’s stock after acquiring an additional 6,340 shares during the period. The holdings of Sompo Asset Management Co. Ltd.’s holdings in Amphenol were worth $854,000 as of its most recent SEC filing.

A number of other institutional investors have recently made changes to their positions in APH. Vanguard Group Inc. boosted its holdings in Amphenol by 0.4% in the first quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock worth $8,473,608,000 after purchasing an additional 321,861 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Amphenol by 92.0% in the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after acquiring an additional 17,552,921 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Amphenol by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock worth $3,601,694,000 after acquiring an additional 1,979,022 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Amphenol by 69.1% in 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 acquiring an additional 9,487,387 shares during the period. Finally, Mawer Investment Management Ltd. boosted its position in Amphenol by 88.9% in the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after buying an additional 7,275,279 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s shares.

Analyst upgrades and downgrades

Several equities analysts recently weighed in on APH shares. Bank of America cut shares of 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 note on Wednesday. September 4th. UBS Group upped their price objective on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Evercore ISI reaffirmed an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Stifel Nicolaus reissued a “hold” rating on shares of Amphenol in a report on Thursday, June 13th. 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 note on Thursday, June 6th. Six equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Moderate Buy” and an average price target of $65.04, according to MarketBeat .

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Insider activity at Amphenol

In other news, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.83, for a total transaction of $19,749,000.00. The sale was disclosed in a legal filing with the SEC, which is available via this link. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction 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 $124,875,089.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this link. Also, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.83, for a total transaction of $19,749,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of shares are owned by corporate insiders.

Amphenol trades up 0.9%

Shares of Amphenol stock opened at $65.91 on Friday. Amphenol Co. has a 1 year low of $39.34 and a 1 year high of $70.84. The company’s 50-day moving average price is $64.13 and its 200-day moving average price is $62.97. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02, and a quick ratio of 1.32. The stock has a market cap of $79.17 billion, a P/E ratio of 40.44, a PEG ratio of 2.45 and a beta of 1.24.

Amphenol (NYSE:APH – Get Free Report ) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the firm posted EPS of $0.72. Amphenol’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, equities analysts predict that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol cuts dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be paid a dividend of $0.165 per share. This represents a dividend of $0.66 on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s payout ratio is currently 40.49%.

About Amphenol

(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.