Truist Financial Corp Buys 83,435 Shares of Amphenol Co. (NYSE:APH)

Truist Financial Corp lifted its position in Amphenol Co. (NYSE:APH) by 83.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 183,441 shares of the electronics maker’s stock after buying an additional 83,435 shares during the quarter. Truist Financial Corp’s holdings in Amphenol were worth $12,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of APH. Beacon Capital Management LLC increased 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 last quarter. New England Capital Financial Advisors LLC lifted its holdings in 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. Opal Wealth Advisors LLC purchased a new position in shares of Amphenol during the second quarter valued at approximately $29,000. Sachetta LLC raised its holdings in shares of Amphenol by 131.1% during the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 249 shares in the last quarter. Finally, Brown Shipley& Co Ltd bought a new stake in Amphenol in the first quarter valued at $52,000. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on APH shares. Evercore ISI reaffirmed an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. Bank of America cut Amphenol from a “buy” rating to a “neutral” rating and cut their price objective for the company from $80.00 to $71.00 in a research report on Wednesday, September 4th. Robert W. Baird dropped their price target on Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. Stifel Nicolaus reiterated a “hold” rating on shares of Amphenol in a report on Thursday, June 13th. Finally, Vertical Research initiated coverage on shares of Amphenol in a report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price on the stock. 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 data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.04.

Insider Activity

In related news, VP Lance E. D’amico sold 90,000 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.65, for a total value of $5,818,500.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at approximately $3,323,010. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Lance E. D’amico sold 90,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,323,010. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Lance E. D’amico sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the completion of the transaction, the vice president now owns 51,400 shares in the company, valued at $3,373,382. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,516,000 shares of company stock valued at $98,236,640 over the last three months. Insiders own 1.80% of the company’s stock.

Amphenol Price Performance

Shares of APH opened at $62.38 on Friday. Amphenol Co. has a twelve month low of $39.34 and a twelve month high of $70.84. The company has a market capitalization of $74.93 billion, a P/E ratio of 38.27, a price-to-earnings-growth ratio of 2.59 and a beta of 1.24. The firm has a 50 day moving average of $63.90 and a 200 day moving average of $63.61. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56.

Amphenol (NYSE:APH) last posted its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share 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 analysts’ expectations of $3.39 billion. During the same quarter in the previous year, the business earned $0.72 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. As a group, equities research analysts anticipate that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be paid a $0.165 dividend. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.06%. Amphenol’s dividend payout ratio is presently 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.