Wallace Capital Management Inc. Buys Shares of 3,200 Amphenol Co. (NYSE:APH)

Wallace Capital Management Inc. purchased a new position in Amphenol Co. (NYSE:APH) during the third quarter, HoldingsChannel.com reports. The fund purchased 3,200 shares of the electronics maker’s stock, valued at approximately $209,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC grew its position in shares of Amphenol by 94.4% during the 2nd quarter. CWM LLC now owns 45,713 shares of the electronics maker’s stock valued at $3,080,000 after purchasing an additional 22,200 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Amphenol by 100.4% in the 2nd quarter. Valeo Financial Advisors LLC now owns 7,238 shares of the electronics maker’s stock worth $488,000 after acquiring an additional 3,627 shares during the last quarter. CX Institutional raised its holdings in shares of Amphenol by 98.3% in the 2nd quarter. CX Institutional now owns 7,847 shares of the electronics maker’s stock valued at $529,000 after acquiring an additional 3,889 shares in the last quarter. OLD National Bancorp IN boosted its position in shares of Amphenol by 16.8% during the 2nd quarter. OLD National Bancorp IN now owns 6,153 shares of the electronics maker’s stock valued at $415,000 after acquiring an additional 885 shares during the last quarter. Finally, City Holding Co. grew its holdings in shares of Amphenol by 100.0% during the second quarter. City Holding Co. now owns 960 shares of the electronics maker’s stock worth $65,000 after purchasing an additional 480 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of Amphenol stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the sale, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. The trade was a 31.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig A. Lampo sold 150,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.76, for a total value of $10,314,000.00. Following the transaction, the chief financial officer now owns 218,116 shares in the company, valued at $14,997,656.16. This trade represents a 40.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,842,672 shares of company stock worth $128,858,080 over the last quarter. Corporate insiders own 1.80% of the company’s stock.

Wall Street Analyst Weigh In

APH has been the subject of several research analyst reports. TD Cowen lifted their target price 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. Evercore ISI upped their target price 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. Robert W. Baird raised their price target on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Bank of America upped their price objective on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Truist Financial raised their price objective on Amphenol from $76.00 to $82.00 and gave the company a “buy” 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’s stock. Based on data from MarketBeat, Amphenol presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.63.

Amphenol Trading Down 0.0 %

Shares of APH opened at $74.39 on Friday. The stock has a market capitalization of $89.69 billion, a P/E ratio of 42.75, a PEG ratio of 2.43 and a beta of 1.24. Amphenol Co. has a twelve month low of $45.92 and a twelve month high of $74.93. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53. The firm has a fifty day simple moving average of $69.15 and a two-hundred day simple moving average of $66.91.

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

Amphenol Announces Dividend

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