Thrive Wealth Management LLC Cuts Position in Amphenol Co. (NYSE:APH)

Thrive Wealth Management LLC trimmed its holdings in shares of Amphenol Co. (NYSE:APH) by 2.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 16,642 shares of the electronics maker’s stock after selling 438 shares during the period. Thrive Wealth Management LLC’s holdings in Amphenol were worth $1,084,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Amphenol by 0.4% during the first quarter. Vanguard Group Inc. now owns 73,459,971 shares of the electronics maker’s stock valued at $8,473,608,000 after buying an additional 321,861 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Amphenol by 92.0% in the 2nd 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 purchasing an additional 17,552,921 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Amphenol by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 31,224,036 shares of the electronics maker’s stock valued at $3,601,694,000 after purchasing an additional 1,979,022 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Amphenol by 69.1% during the 2nd 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 purchasing an additional 9,487,387 shares in the last quarter. Finally, Mawer Investment Management Ltd. raised its holdings 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. 97.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on APH. Bank of America cut shares of Amphenol from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $71.00 in a report on Wednesday, September 4th. Robert W. Baird reduced their target price on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Evercore ISI reaffirmed an “outperform” rating on shares of Amphenol in a research report on Thursday, June 13th. Vertical Research began coverage on Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price objective for the company. Finally, Truist Financial raised their price target on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Six analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $65.04.

Insiders Place Their Bets

In other news, VP Lance E. D’amico sold 100,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the sale, the vice president now directly owns 51,400 shares in the company, valued at $3,373,382. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction that occurred 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 directly owns 1,934,848 shares in the company, valued at $124,875,089.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Lance E. D’amico sold 100,000 shares of Amphenol stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at approximately $3,373,382. The trade was a 0.00 % decrease in their position. 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 over the last three months. 1.80% of the stock is currently owned by company insiders.

Amphenol Stock Performance

APH stock traded up $0.31 during midday trading on Friday, reaching $62.38. 5,287,854 shares of the company’s stock traded hands, compared to its average volume of 6,541,861. 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 52-week low of $39.34 and a 52-week high of $70.84. The stock has a market cap of $74.93 billion, a P/E ratio of 38.27, a PEG ratio of 2.59 and a beta of 1.24. The stock’s 50-day moving average is $63.90 and its 200 day moving average is $63.61.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 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 firm 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 posted $0.72 EPS. Amphenol’s revenue was up 18.2% on a year-over-year basis. As a group, analysts anticipate 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. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.06%. Amphenol’s payout ratio is currently 40.49%.

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.