Cornerstone Advisory LLC Raises Position in Amphenol Co. (NYSE:APH)

Cornerstone Advisory LLC increased its holdings in shares of Amphenol Co. (NYSE:APH) by 5.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,655 shares of the electronics maker’s stock after buying an additional 249 shares during the quarter. Cornerstone Advisory LLC’s holdings in Amphenol were worth $321,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Amphenol by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 152,127,847 shares of the electronics maker’s stock worth $10,565,279,000 after acquiring an additional 2,108,578 shares during the last quarter. FMR LLC raised its position in shares of Amphenol by 2.6% in the 4th quarter. FMR LLC now owns 104,250,575 shares of the electronics maker’s stock valued at $7,240,202,000 after purchasing an additional 2,643,752 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Amphenol by 36.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker’s stock worth $4,091,426,000 after purchasing an additional 15,837,407 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Amphenol by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 25,325,653 shares of the electronics maker’s stock worth $1,754,672,000 after buying an additional 659,560 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Amphenol by 294.0% during the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker’s stock worth $1,733,027,000 after buying an additional 18,619,417 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Stock Performance

Shares of NYSE APH opened at $85.24 on Friday. The company has a market capitalization of $103.11 billion, a PE ratio of 44.51, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.75 and a current ratio of 2.37. The company’s fifty day moving average price is $72.25 and its 200 day moving average price is $70.90. Amphenol Co. has a 1 year low of $54.77 and a 1 year high of $87.22.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.11. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The company had revenue of $4.81 billion for the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. Amphenol’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, research analysts predict that Amphenol Co. will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Craig A. Lampo sold 400,000 shares of the firm’s stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $75.93, for a total value of $30,372,000.00. Following the transaction, the chief financial officer now directly owns 100,000 shares of the company’s stock, valued at approximately $7,593,000. This trade represents a 80.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Richard Adam Norwitt sold 2,000,000 shares of Amphenol stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $75.73, for a total value of $151,460,000.00. Following the completion of the sale, the chief executive officer now owns 2,002,507 shares in the company, valued at approximately $151,649,855.11. The trade was a 49.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,178,500 shares of company stock valued at $241,903,805. 1.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on APH. JPMorgan Chase & Co. raised their target price on Amphenol from $85.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, April 24th. UBS Group reissued a “buy” rating and issued a $85.00 price objective (up from $78.00) on shares of Amphenol in a report on Thursday, April 24th. Truist Financial lifted their target price on Amphenol from $90.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Robert W. Baird increased their price target on shares of Amphenol from $73.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Finally, TD Securities lifted their price objective on shares of Amphenol from $63.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, May 1st. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Amphenol presently has an average rating of “Moderate Buy” and a consensus target price of $81.62.

Amphenol 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.