Alkeon Capital Management LLC Increases Stock Position in Amphenol Co. (NYSE:APH)

Alkeon Capital Management LLC raised its holdings in shares of Amphenol Co. (NYSE:APH) by 15.4% during the third quarter, HoldingsChannel reports. The fund owned 2,400,000 shares of the electronics maker’s stock after purchasing an additional 320,000 shares during the quarter. Alkeon Capital Management LLC’s holdings in Amphenol were worth $156,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in APH. Bank of New York Mellon Corp raised its stake in shares of Amphenol by 92.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after purchasing an additional 17,552,921 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of Amphenol by 69.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock valued at $1,564,711,000 after buying an additional 9,487,387 shares during the period. Mawer Investment Management Ltd. lifted its holdings in shares of Amphenol by 88.9% in the second quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after buying an additional 7,275,279 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Amphenol by 116.6% in the second quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after acquiring an additional 5,293,292 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Amphenol by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,558,670 shares of the electronics maker’s stock valued at $427,363,000 after acquiring an additional 63,180 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Trading Down 0.7 %

APH stock opened at $72.74 on Friday. Amphenol Co. has a one year low of $44.90 and a one year high of $74.93. The company has a market capitalization of $87.70 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 2.44 and a beta of 1.23. The company’s 50 day moving average price is $68.37 and its two-hundred day moving average price is $66.62. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99.

Amphenol (NYSE:APH) last posted its quarterly 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. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same period in the previous year, the firm posted $0.39 earnings per share. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. As a group, analysts predict that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

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

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Bank of America increased their target price 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. Robert W. Baird lifted their price objective on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Truist Financial upped their target price on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI boosted their price objective on Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, TD Cowen raised their target price on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Five investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $69.63.

Insider Activity

In other Amphenol news, CFO Craig A. Lampo sold 300,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $71.56, for a total transaction of $21,468,000.00. Following the completion of the transaction, the chief financial officer now owns 318,116 shares of the company’s stock, valued at $22,764,380.96. This represents a 48.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 900,672 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the completion of the sale, the chief executive officer now 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,842,672 shares of company stock valued at $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.