Marshall Wace LLP Reduces Stock Holdings in Amphenol Co. (NYSE:APH)

Marshall Wace LLP trimmed its holdings in Amphenol Co. (NYSE:APH) by 23.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 170,654 shares of the electronics maker’s stock after selling 53,212 shares during the period. Marshall Wace LLP’s holdings in Amphenol were worth $11,497,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Beacon Capital Management LLC boosted its stake in shares of 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 buying an additional 206 shares during the last quarter. New England Capital Financial Advisors LLC lifted its holdings 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 valued at $25,000 after acquiring an additional 188 shares during the period. Sachetta LLC boosted its position in Amphenol by 131.1% in the 2nd quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 249 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Amphenol during the 2nd quarter valued at approximately $29,000. Finally, New Millennium Group LLC acquired a new position in shares of Amphenol in the 2nd quarter valued at $31,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Stock Performance

APH opened at $65.02 on Friday. The firm has a market capitalization of $78.10 billion, a PE ratio of 39.89, a PEG ratio of 2.59 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 Co. has a twelve month low of $39.34 and a twelve month high of $70.84. The firm’s 50-day moving average price is $64.00 and its 200 day moving average price is $63.33.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (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 business had revenue of $3.61 billion during the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the business earned $0.72 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. As a group, sell-side analysts expect that Amphenol Co. will post 1.76 EPS for the current fiscal year.

Amphenol Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.02%. Amphenol’s payout ratio is 40.49%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Bank of America cut Amphenol from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $80.00 to $71.00 in a report on Wednesday, September 4th. Vertical Research assumed coverage on Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price objective on the stock. Truist Financial upped their target price on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.04.

Insider Activity at Amphenol

In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the transaction, the vice president now directly owns 51,400 shares of the company’s stock, valued at $3,323,010. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total value of $19,749,000.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 51,400 shares in the company, valued at $3,323,010. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,516,000 shares of company stock valued at $98,236,640. 1.80% of the stock is owned by company insiders.

About Amphenol

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.