Wedge Capital Management L L P NC Reduces Stock Holdings in Amphenol Co. (NYSE:APH)

Wedge Capital Management L L P NC cut its holdings in Amphenol Co. (NYSE:APH) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 909,370 shares of the electronics maker’s stock after selling 21,421 shares during the quarter. Amphenol makes up about 1.1% of Wedge Capital Management L L P NC’s investment portfolio, making the stock its 21st largest position. Wedge Capital Management L L P NC’s holdings in Amphenol were worth $63,156,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Trifecta Capital Advisors LLC boosted its stake in shares of Amphenol by 352.1% during the third quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 338 shares during the last quarter. Core Alternative Capital boosted its stake in shares of Amphenol by 100.0% during the 2nd quarter. Core Alternative Capital now owns 462 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 231 shares during the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Amphenol by 50.0% during the third quarter. Brown Brothers Harriman & Co. now owns 498 shares of the electronics maker’s stock worth $32,000 after buying an additional 166 shares in the last quarter. Continuum Advisory LLC raised its position in shares of Amphenol by 89.3% in the third quarter. Continuum Advisory LLC now owns 496 shares of the electronics maker’s stock valued at $32,000 after buying an additional 234 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its stake in shares of Amphenol by 100.3% during the second quarter. Sunbelt Securities Inc. now owns 647 shares of the electronics maker’s stock valued at $44,000 after buying an additional 324 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. TD Cowen boosted their price target on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 25th. Truist Financial upped their target price on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Evercore ISI lifted their price target on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Bank of America increased their price objective on shares of Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Finally, Citigroup boosted their target price on shares of Amphenol from $81.00 to $82.00 and gave the company a “buy” rating in a report on Friday. Five research 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.79.

Amphenol Stock Performance

NYSE:APH opened at $69.44 on Friday. Amphenol Co. has a twelve month low of $47.76 and a twelve month high of $75.78. The firm has a market capitalization of $83.71 billion, a price-to-earnings ratio of 39.91, a PEG ratio of 2.01 and a beta of 1.24. 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’s fifty day simple moving average is $71.91 and its 200 day simple moving average is $67.73.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.81 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The company’s revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.39 earnings per share. As a group, equities research analysts expect that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.95%. Amphenol’s payout ratio is currently 37.93%.

Insider Activity

In related news, CFO Craig A. Lampo sold 150,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 218,116 shares of the company’s stock, valued at approximately $14,997,656.16. This represents a 40.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Peter Straub sold 132,000 shares of Amphenol stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $74.12, for a total value of $9,783,840.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,842,672 shares of company stock worth $128,858,080. 1.80% of the stock is currently owned by company insiders.

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.