Geode Capital Management LLC Buys 564,991 Shares of Amphenol Co. (NYSE:APH)

Geode Capital Management LLC lifted its stake in Amphenol Co. (NYSE:APH) by 2.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,666,093 shares of the electronics maker’s stock after buying an additional 564,991 shares during the period. Geode Capital Management LLC owned about 2.05% of Amphenol worth $1,601,540,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Beacon Capital Management LLC lifted its stake in shares of 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 buying an additional 206 shares during the period. New England Capital Financial Advisors LLC lifted its stake in shares of Amphenol by 100.0% in the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after buying an additional 188 shares during the period. Trifecta Capital Advisors LLC lifted its stake in shares of Amphenol by 352.1% in the third quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after buying an additional 338 shares during the period. Sachetta LLC raised its position in Amphenol by 131.1% in the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 249 shares in the last quarter. Finally, New Millennium Group LLC acquired a new position in Amphenol in the second quarter worth about $31,000. Institutional investors own 97.01% of the company’s stock.

Insider Activity at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of the firm’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 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 approximately $133,136,890.88. This trade represents a 31.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the completion of the transaction, the chief financial officer now directly owns 218,116 shares in the company, valued at approximately $14,997,656.16. The trade was a 40.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,842,672 shares of company stock valued at $128,858,080 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

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

Amphenol Stock Performance

NYSE APH opened at $72.63 on Wednesday. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. The firm has a market cap of $87.56 billion, a price-to-earnings ratio of 41.74, a PEG ratio of 2.47 and a beta of 1.24. The company has a 50 day moving average of $69.51 and a 200-day moving average of $67.00. Amphenol Co. has a 1-year low of $46.82 and a 1-year high of $74.93.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.81 billion. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. Amphenol’s revenue for the quarter was up 26.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. On average, equities analysts forecast that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s dividend payout ratio is currently 37.93%.

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.