Sumitomo Life Insurance Co. Acquires Shares of 31,205 Amphenol Co. (NYSE:APH)

Sumitomo Life Insurance Co. bought a new position in Amphenol Co. (NYSE:APH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 31,205 shares of the electronics maker’s stock, valued at approximately $2,033,000.

Several other institutional investors have also made changes to their positions in the company. Texas Permanent School Fund Corp lifted its stake in Amphenol by 61.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock worth $13,458,000 after acquiring an additional 75,753 shares in the last quarter. United Services Automobile Association lifted its position in shares of Amphenol by 102.0% in the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock worth $2,154,000 after purchasing an additional 16,149 shares in the last quarter. Choreo LLC boosted its holdings in shares of Amphenol by 556.7% during the second quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock worth $2,732,000 after purchasing an additional 34,309 shares during the period. Angeles Wealth Management LLC grew its position in Amphenol by 102.4% during the second quarter. Angeles Wealth Management LLC now owns 3,826 shares of the electronics maker’s stock valued at $258,000 after purchasing an additional 1,936 shares in the last quarter. Finally, Czech National Bank increased its stake in Amphenol by 7.2% in the 3rd quarter. Czech National Bank now owns 245,326 shares of the electronics maker’s stock valued at $15,985,000 after buying an additional 16,425 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amphenol news, insider Luc Walter sold 170,000 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $64.10, for a total value of $10,897,000.00. Following the completion of the sale, the insider now directly owns 447,790 shares of the company’s stock, valued at $28,703,339. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, VP Lance E. D’amico sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.63, for a total transaction of $6,563,000.00. Following the sale, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,373,382. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Luc Walter sold 170,000 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $64.10, for a total value of $10,897,000.00. Following the completion of the transaction, the insider now directly owns 447,790 shares of the company’s stock, valued at approximately $28,703,339. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,516,000 shares of company stock valued at $98,236,640. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. UBS Group boosted their price target on shares of Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America cut their price target on Amphenol from $71.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Robert W. Baird lowered their price target on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Vertical Research initiated coverage on shares of Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price for the company. Finally, Truist Financial increased their price target on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Amphenol Stock Performance

Shares of APH opened at $66.99 on Thursday. The company has a market capitalization of $80.47 billion, a PE ratio of 41.10, a price-to-earnings-growth ratio of 2.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84. The company’s fifty day moving average price is $64.56 and its 200 day moving average price is $64.12.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The business had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, analysts expect that Amphenol Co. will post 1.76 earnings per share for the current year.

Amphenol Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th were paid a $0.165 dividend. The ex-dividend date was Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 0.99%. Amphenol’s payout ratio is 40.49%.

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.