Parallel Advisors LLC Raises Stock Position in Amphenol Co. (NYSE:APH)

Parallel Advisors LLC raised its stake in shares of Amphenol Co. (NYSE:APH) by 110.8% during the second quarter, Holdings Channel reports. The firm owned 18,919 shares of the electronics maker’s stock after buying an additional 9,943 shares during the quarter. Parallel Advisors LLC’s holdings in Amphenol were worth $1,275,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC purchased a new position in Amphenol during the 4th quarter valued at $29,000. Beacon Capital Management LLC increased its position in Amphenol by 121.2% during the 2nd quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 206 shares during the period. New England Capital Financial Advisors LLC increased its position in Amphenol by 100.0% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 188 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of Amphenol during the 2nd quarter valued at $29,000. Finally, Sachetta LLC boosted its holdings in shares of Amphenol by 131.1% during the 2nd quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock valued at $27,000 after buying an additional 249 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 commented on APH. TD Cowen boosted their target price on shares of Amphenol from $45.00 to $57.50 and gave the company a “hold” rating in a report on Thursday, June 6th. UBS Group boosted their target price on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Vertical Research began 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. Truist Financial boosted their target price on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Seaport Res Ptn upgraded shares of Amphenol to a “strong-buy” rating in a research note on Monday, May 20th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Amphenol has a consensus rating of “Moderate Buy” and a consensus price target of $65.04.

Insider Activity

In other news, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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 Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.83, for a total transaction of $19,749,000.00. The disclosure for this sale can be found here. Insiders sold 1,516,000 shares of company stock valued at $98,236,640 in the last quarter. 1.80% of the stock is currently owned by insiders.

Amphenol Price Performance

APH opened at $63.58 on Monday. 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 stock has a market capitalization of $76.57 billion, a P/E ratio of 38.89, a P/E/G ratio of 2.45 and a beta of 1.24. The company’s 50-day simple moving average is $64.61 and its two-hundred day simple moving average is $62.76. Amphenol Co. has a 52-week low of $39.34 and a 52-week high of $70.84.

Amphenol (NYSE:APH) last posted its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $3.61 billion for the quarter, compared to analysts’ expectations of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.72 EPS. As a group, analysts predict that Amphenol Co. will post 1.76 EPS for the current year.

Amphenol Cuts Dividend

The firm 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. This represents a $0.66 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s payout ratio is currently 26.91%.

Amphenol 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.