Teachers Retirement System of The State of Kentucky Sells 65,573 Shares of Amphenol Co. (NYSE:APH)

Teachers Retirement System of The State of Kentucky trimmed its stake in Amphenol Co. (NYSE:APH) by 42.2% during the third quarter, HoldingsChannel.com reports. The fund owned 89,697 shares of the electronics maker’s stock after selling 65,573 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Amphenol were worth $5,845,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Diversified Trust Co acquired a new stake in shares of Amphenol during the 2nd quarter worth about $222,000. Wealth Enhancement Advisory Services LLC raised its stake in shares of Amphenol by 130.1% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 124,409 shares of the electronics maker’s stock valued at $8,381,000 after acquiring an additional 70,336 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Amphenol by 101.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 73,137 shares of the electronics maker’s stock worth $4,927,000 after acquiring an additional 36,860 shares in the last quarter. 180 Wealth Advisors LLC bought a new stake in Amphenol during the 2nd quarter worth approximately $201,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Amphenol by 100.0% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 7,960 shares of the electronics maker’s stock valued at $560,000 after purchasing an additional 3,980 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

APH has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Truist Financial upped their price target on shares of Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Evercore ISI raised their price objective on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Robert W. Baird upped their target price on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, TD Cowen raised their price target on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report 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 stock. Based on data from MarketBeat.com, Amphenol presently has an average rating of “Moderate Buy” and an average price target of $69.63.

Insiders Place Their Bets

In related news, 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 transaction of $61,975,240.32. Following the completion of 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. This represents a 31.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter Straub sold 132,000 shares of Amphenol stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $74.12, for a total transaction of $9,783,840.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,842,672 shares of company stock worth $128,858,080. Company insiders own 1.80% of the company’s stock.

Amphenol Stock Performance

APH stock opened at $73.61 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53. Amphenol Co. has a twelve month low of $46.94 and a twelve month high of $74.93. The business’s fifty day moving average is $69.91 and its 200-day moving average is $67.07. The company has a market cap of $88.75 billion, a P/E ratio of 42.30, a price-to-earnings-growth ratio of 2.47 and a beta of 1.24.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.05. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations 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 last year, the business earned $0.39 earnings per share. Equities research analysts forecast that Amphenol Co. will post 1.84 EPS for the current year.

Amphenol Announces Dividend

The company also recently announced 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. This represents a $0.66 annualized dividend and a yield of 0.90%. The ex-dividend date is Tuesday, December 17th. Amphenol’s payout ratio is presently 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.