Point72 Asset Management L.P. Sells 1,060,182 Shares of Amphenol Co. (NYSE:APH)

Point72 Asset Management L.P. reduced its position in shares of Amphenol Co. (NYSE:APH) by 48.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,150,490 shares of the electronics maker’s stock after selling 1,060,182 shares during the period. Point72 Asset Management L.P.’s holdings in Amphenol were worth $79,902,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of Amphenol by 208.8% during the fourth quarter. Blue Trust Inc. now owns 27,095 shares of the electronics maker’s stock valued at $1,765,000 after acquiring an additional 18,322 shares during the last quarter. Spire Wealth Management increased its holdings in Amphenol by 34.1% in the fourth quarter. Spire Wealth Management now owns 98,432 shares of the electronics maker’s stock valued at $6,836,000 after purchasing an additional 25,007 shares during the period. Consolidated Planning Corp raised its position in Amphenol by 37.0% during the 4th quarter. Consolidated Planning Corp now owns 17,160 shares of the electronics maker’s stock worth $1,192,000 after purchasing an additional 4,631 shares during the last quarter. Pines Wealth Management LLC acquired a new position in Amphenol during the 4th quarter worth about $553,000. Finally, Kanawha Capital Management LLC grew its position in shares of Amphenol by 4.5% in the 4th quarter. Kanawha Capital Management LLC now owns 151,867 shares of the electronics maker’s stock valued at $10,547,000 after buying an additional 6,481 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Amphenol Trading Down 0.1%

APH opened at $85.70 on Thursday. The company has a market cap of $103.66 billion, a P/E ratio of 44.75, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a fifty day moving average price of $69.43 and a two-hundred day moving average price of $70.16. The company has a current ratio of 2.37, a quick ratio of 1.75 and a debt-to-equity ratio of 0.66. Amphenol Co. has a 1-year low of $54.77 and a 1-year high of $86.80.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.11. The business had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.20 billion. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The firm’s revenue was up 47.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.40 EPS. Analysts predict that Amphenol Co. will post 2.36 EPS for the current fiscal year.

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Tuesday, June 17th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, June 17th. Amphenol’s payout ratio is 32.04%.

Insider Buying and Selling

In other news, insider William J. Doherty sold 126,000 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.28, for a total value of $10,115,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Richard Adam Norwitt sold 2,000,000 shares of Amphenol stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $75.73, for a total value of $151,460,000.00. Following the transaction, the chief executive officer now directly owns 2,002,507 shares in the company, valued at approximately $151,649,855.11. The trade was a 49.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,178,500 shares of company stock worth $241,903,805 in the last ninety days. Corporate insiders own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

APH has been the subject of a number of analyst reports. UBS Group restated a “buy” rating and set a $85.00 price objective (up from $78.00) on shares of Amphenol in a research report on Thursday, April 24th. JPMorgan Chase & Co. raised their price target on shares of Amphenol from $85.00 to $91.00 and gave the stock an “overweight” rating in a report on Thursday, April 24th. Truist Financial upped their price objective on shares of Amphenol from $90.00 to $102.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. The Goldman Sachs Group lifted their target price on shares of Amphenol from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Finally, TD Securities boosted their target price on shares of Amphenol from $63.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amphenol presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.62.

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.