Marsico Capital Management LLC Increases Stock Position in Amphenol Co. (NYSE:APH)

Marsico Capital Management LLC lifted its holdings in shares of Amphenol Co. (NYSE:APH) by 100.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 232,050 shares of the electronics maker’s stock after buying an additional 116,025 shares during the period. Amphenol comprises 0.5% of Marsico Capital Management LLC’s investment portfolio, making the stock its 29th biggest holding. Marsico Capital Management LLC’s holdings in Amphenol were worth $15,633,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Beacon Capital Management LLC lifted its holdings in Amphenol by 121.2% in the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 206 shares during the period. New England Capital Financial Advisors LLC increased 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 valued at $25,000 after purchasing an additional 188 shares in the last quarter. Sachetta LLC lifted its stake in shares of Amphenol by 131.1% in the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 249 shares during the period. Frazier Financial Advisors LLC purchased a new stake in Amphenol during the fourth quarter worth about $29,000. Finally, Opal Wealth Advisors LLC purchased a new position in Amphenol in the second quarter valued at about $29,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on APH. Evercore ISI restated an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Stifel Nicolaus restated a “hold” rating on shares of Amphenol in a research report on Thursday, June 13th. Truist Financial lifted their price target on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Citigroup increased their price objective on shares of Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, May 28th. Finally, Bank of America cut shares of Amphenol from a “buy” rating to a “neutral” rating and cut their target price for the stock from $80.00 to $71.00 in a research report on Wednesday, September 4th. Six research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.04.

Insider Transactions at Amphenol

In related news, CEO Richard Adam Norwitt sold 750,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $124,875,089.92. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $124,875,089.92. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction on Friday, July 26th. The stock was 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 of the company’s stock, valued at $3,323,010. The disclosure for this sale can be found here. Insiders have sold a total of 1,516,000 shares of company stock worth $98,236,640 in the last three months. Company insiders own 1.80% of the company’s stock.

Amphenol Stock Performance

Shares of APH opened at $63.99 on Wednesday. The company has a market capitalization of $76.87 billion, a price-to-earnings ratio of 39.26, a PEG ratio of 2.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. Amphenol Co. has a 1 year low of $39.34 and a 1 year high of $70.84. The company’s 50 day simple moving average is $64.43 and its 200 day simple moving average is $62.88.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The company 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 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 company posted $0.72 EPS. On average, sell-side analysts predict 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 paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Tuesday, September 17th. Amphenol’s dividend 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.