Los Angeles Capital Management LLC Sells 87,468 Shares of Amphenol Co. (NYSE:APH)

Los Angeles Capital Management LLC trimmed its position in shares of Amphenol Co. (NYSE:APH) by 62.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 52,582 shares of the electronics maker’s stock after selling 87,468 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Amphenol were worth $3,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC increased its position in shares of Amphenol by 0.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,576,613 shares of the electronics maker’s stock valued at $102,732,000 after purchasing an additional 12,005 shares during the period. Colonial River Investments LLC bought a new stake in Amphenol in the 3rd quarter valued at $305,000. Arrow Financial Corp raised its stake in shares of Amphenol by 1.0% in the 3rd quarter. Arrow Financial Corp now owns 76,857 shares of the electronics maker’s stock valued at $5,008,000 after buying an additional 730 shares in the last quarter. Covestor Ltd lifted its holdings in shares of Amphenol by 82.7% during the 3rd quarter. Covestor Ltd now owns 1,197 shares of the electronics maker’s stock worth $78,000 after acquiring an additional 542 shares during the period. Finally, Mesirow Financial Investment Management Inc. increased its stake in Amphenol by 1.3% in the third quarter. Mesirow Financial Investment Management Inc. now owns 38,390 shares of the electronics maker’s stock valued at $2,501,000 after acquiring an additional 478 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

APH has been the subject of a number of analyst reports. Bank of America raised their price target on shares of Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Truist Financial upped their price target on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Vertical Research assumed coverage on Amphenol in a report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price objective for the company. TD Cowen upped their target price on shares of Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Evercore ISI lifted their price target on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $69.63.

Amphenol Price Performance

APH opened at $71.98 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33. The stock has a market capitalization of $86.78 billion, a P/E ratio of 41.37, a price-to-earnings-growth ratio of 2.45 and a beta of 1.23. The company’s 50 day simple moving average is $65.83 and its 200-day simple moving average is $65.73. Amphenol Co. has a one year low of $43.05 and a one year high of $74.70.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.81 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the firm earned $0.39 EPS. Sell-side analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s dividend payout ratio is 37.93%.

Insider Buying and Selling

In other Amphenol news, insider William J. Doherty sold 300,000 shares of Amphenol stock in a transaction on 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 accessible through this link. In related news, CEO Richard Adam Norwitt sold 900,672 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $133,136,890.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William J. Doherty sold 300,000 shares of Amphenol stock in a transaction on Thursday, August 15th. The stock was 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 a total of 2,242,672 shares of company stock valued at $155,170,080 over the last ninety days. Insiders own 1.80% of the company’s stock.

Amphenol Company 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.