Amphenol Co. (NYSE:APH) Shares Bought by Principal Financial Group Inc.

by · The Markets Daily

Principal Financial Group Inc. grew its holdings in shares of Amphenol Co. (NYSE:APH – Free Report) by 73.9% during the third quarter, Holdings Channel.com reports. The firm owned 2,591,323 shares of the electronics maker’s stock after buying an additional 1,101,368 shares during the quarter. Principal Financial Group Inc.’s holdings in Amphenol were worth $168,851,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hanseatic Management Services Inc. increased its stake in Amphenol by 3.3% during the 3rd quarter. Hanseatic Management Services Inc. now owns 13,155 shares of the electronics maker’s stock valued at $857,000 after buying an additional 424 shares during the period. Catalina Capital Group LLC boosted its holdings in shares of Amphenol by 20.0% in the third quarter. Catalina Capital Group LLC now owns 4,399 shares of the electronics maker’s stock valued at $287,000 after acquiring an additional 733 shares in the last quarter. Fiduciary Family Office LLC increased its stake in shares of Amphenol by 39.8% during the third quarter. Fiduciary Family Office LLC now owns 11,650 shares of the electronics maker’s stock valued at $759,000 after acquiring an additional 3,316 shares during the period. Cornerstone Capital Inc. bought a new stake in Amphenol during the third quarter worth approximately $3,486,000. Finally, Amalgamated Bank lifted its position in Amphenol by 3.5% in the third quarter. Amalgamated Bank now owns 259,076 shares of the electronics maker’s stock worth $16,881,000 after purchasing an additional 8,726 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI upped their price objective on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen raised their price objective on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Bank of America boosted their target price on shares of Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Truist Financial raised their target price on shares of Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Robert W. Baird upped their price target on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.63.

Read Our Latest Analysis on Amphenol

Amphenol Price Performance

Shares of NYSE:APH opened at $73.92 on Friday. The company’s fifty day moving average is $65.44 and its two-hundred day moving average is $65.34. The company has a market cap of $89.12 billion, a P/E ratio of 42.48, a price-to-earnings-growth ratio of 2.27 and a beta of 1.23. Amphenol Co. has a 12-month low of $42.12 and a 12-month high of $74.18. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53.

Amphenol (NYSE:APH – Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.05. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the prior year, the business earned $0.39 EPS. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. Equities analysts expect that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s payout ratio is presently 37.93%.

Insider Buying and Selling at Amphenol

In other Amphenol news, VP Lance E. D’amico sold 100,000 shares of Amphenol 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 completion of the sale, the vice president now owns 51,400 shares of the company’s stock, valued at $3,373,382. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at $133,136,890.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Lance E. D’amico sold 100,000 shares of Amphenol stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.63, for a total value of $6,563,000.00. Following the sale, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,373,382. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,110,672 shares of company stock worth $145,386,240. 1.80% of the stock is currently owned by company insiders.

About Amphenol

(Free Report)

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.

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