Ensign Peak Advisors Inc Acquires 346,166 Shares of Amphenol Co. (NYSE:APH)

Ensign Peak Advisors Inc raised its stake in shares of Amphenol Co. (NYSE:APH) by 79.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 781,322 shares of the electronics maker’s stock after purchasing an additional 346,166 shares during the period. Ensign Peak Advisors Inc’s holdings in Amphenol were worth $52,638,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Texas Permanent School Fund Corp raised its position in Amphenol by 61.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock valued at $13,458,000 after buying an additional 75,753 shares during the last quarter. United Services Automobile Association raised its holdings in shares of Amphenol by 102.0% in the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock valued at $2,154,000 after purchasing an additional 16,149 shares during the last quarter. Choreo LLC lifted its position in shares of Amphenol by 556.7% during the second quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock valued at $2,732,000 after purchasing an additional 34,309 shares in the last quarter. Angeles Wealth Management LLC boosted its holdings in Amphenol by 102.4% during the second quarter. Angeles Wealth Management LLC now owns 3,826 shares of the electronics maker’s stock worth $258,000 after purchasing an additional 1,936 shares during the last quarter. Finally, Federated Hermes Inc. grew its position in Amphenol by 4,215.3% in the 2nd quarter. Federated Hermes Inc. now owns 117,678 shares of the electronics maker’s stock worth $7,928,000 after purchasing an additional 114,951 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APH. Vertical Research initiated coverage on Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price on the stock. Bank of America cut Amphenol from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $80.00 to $71.00 in a research report on Wednesday, September 4th. UBS Group raised their target price on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. TD Cowen boosted their price target on shares of Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Finally, Citigroup raised their price objective on shares of Amphenol from $67.50 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, May 28th. Six research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.04.

Amphenol Price Performance

APH opened at $65.91 on Friday. The firm has a 50-day moving average price of $64.13 and a 200-day moving average price of $63.03. Amphenol Co. has a twelve month low of $39.34 and a twelve month high of $70.84. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $79.17 billion, a price-to-earnings ratio of 40.44, a PEG ratio of 2.45 and a beta of 1.24.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. Amphenol’s revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.72 EPS. Equities analysts expect that Amphenol Co. will post 1.76 EPS for the current year.

Amphenol Cuts Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.00%. Amphenol’s payout ratio is 40.49%.

Insiders Place Their Bets

In other news, insider Luc Walter sold 170,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $64.10, for a total transaction of $10,897,000.00. Following the sale, the insider now directly owns 447,790 shares in the company, valued at $28,703,339. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Richard Adam Norwitt sold 750,000 shares of the 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 sale, the chief executive officer now owns 1,934,848 shares in the company, valued at $124,875,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Luc Walter sold 170,000 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $64.10, for a total value of $10,897,000.00. Following the completion of the transaction, the insider now owns 447,790 shares in the company, valued at $28,703,339. The disclosure for this sale can be found here. Insiders sold a total of 1,516,000 shares of company stock worth $98,236,640 in the last quarter. 1.80% of the stock is owned by company insiders.

Amphenol Company 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.