Ballentine Partners LLC Buys 13,961 Shares of Amphenol Co. (NYSE:APH)

Ballentine Partners LLC boosted its stake in Amphenol Co. (NYSE:APH) by 111.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 26,502 shares of the electronics maker’s stock after acquiring an additional 13,961 shares during the period. Ballentine Partners LLC’s holdings in Amphenol were worth $1,785,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in 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 valued at $2,468,301,000 after buying an additional 17,552,921 shares during the period. Norges Bank acquired a new position in Amphenol in the fourth quarter valued at approximately $1,078,167,000. Price T Rowe Associates Inc. MD lifted its stake in Amphenol by 39.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock valued at $2,899,059,000 after buying an additional 8,340,759 shares during the period. National Bank of Canada FI lifted its stake in Amphenol by 263.0% in the second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock valued at $240,935,000 after buying an additional 2,585,282 shares during the period. Finally, TD Asset Management Inc lifted its stake in Amphenol by 77.2% in the second quarter. TD Asset Management Inc now owns 4,437,918 shares of the electronics maker’s stock valued at $298,983,000 after buying an additional 1,933,738 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Amphenol Trading Up 0.1 %

Shares of Amphenol stock opened at $60.79 on Wednesday. The stock has a fifty day simple moving average of $64.90 and a 200 day simple moving average of $62.57. Amphenol Co. has a 12-month low of $39.34 and a 12-month high of $70.84. The company has a market capitalization of $73.21 billion, a P/E ratio of 37.18, a price-to-earnings-growth ratio of 2.36 and a beta of 1.24. 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 announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the prior year, the company posted $0.72 earnings per share. Amphenol’s revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

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

Analysts Set New Price Targets

Several brokerages have issued reports on APH. Seaport Res Ptn raised Amphenol to a “strong-buy” rating in a research note on Monday, May 20th. Bank of America lowered Amphenol from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $80.00 to $71.00 in a research report on Wednesday, September 4th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Vertical Research started coverage on Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price on the stock. Finally, Truist Financial upped their target price on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has given 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 $65.04.

Insider Buying and Selling at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction on 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 can be accessed through the SEC website. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction on 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 can be accessed through the SEC website. Also, VP Lance E. D’amico sold 100,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value 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. The disclosure for this sale can be found here. Insiders sold 1,516,000 shares of company stock worth $98,236,640 in the last quarter. 1.80% of the stock is currently owned by company insiders.

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.