Northwestern Mutual Wealth Management Co. Raises Holdings in Amphenol Co. (NYSE:APH)

Northwestern Mutual Wealth Management Co. grew its position in Amphenol Co. (NYSE:APH) by 600.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,470 shares of the electronics maker’s stock after buying an additional 64,703 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Amphenol were worth $5,084,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC lifted its holdings in shares of Amphenol by 121.2% in the 2nd 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 period. New England Capital Financial Advisors LLC lifted its holdings in shares of Amphenol by 100.0% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after buying an additional 188 shares during the period. Sachetta LLC lifted its holdings in shares of Amphenol by 131.1% in the 2nd quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after buying an additional 249 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Amphenol during the 2nd quarter worth $29,000. Finally, New Millennium Group LLC purchased a new stake in shares of Amphenol during the 2nd quarter worth $31,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on APH shares. Bank of America cut 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. Stifel Nicolaus restated a “hold” rating on shares of Amphenol in a research note on Thursday, June 13th. Truist Financial upped their price objective on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. TD Cowen upped 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. Finally, Evercore ISI restated an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Six investment 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’s stock. According to data from MarketBeat, Amphenol currently has an average rating of “Moderate Buy” and a consensus target price of $65.04.

Amphenol Stock Down 2.3 %

Shares of APH stock opened at $62.14 on Thursday. The stock’s 50-day simple moving average is $63.92 and its 200-day simple moving average is $63.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The firm has a market capitalization of $74.64 billion, a PE ratio of 38.12, a P/E/G ratio of 2.59 and a beta of 1.24. Amphenol Co. has a fifty-two week low of $39.34 and a fifty-two week high of $70.84.

Amphenol (NYSE:APH) last announced 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 for the quarter, compared to analyst estimates of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. Equities analysts expect 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 issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Tuesday, September 17th. Amphenol’s dividend payout ratio is presently 40.49%.

Insider Buying and Selling

In related news, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Luc Walter sold 170,000 shares of the firm’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 of the company’s stock, valued at $28,703,339. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $65.83, for a total value of $19,749,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,516,000 shares of company stock valued at $98,236,640 over the last ninety days. Company insiders own 1.80% of the company’s stock.

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.