Fred Alger Management LLC Acquires 149,349 Shares of Amphenol Co. (NYSE:APH)

Fred Alger Management LLC lifted its holdings in shares of Amphenol Co. (NYSE:APH) by 173.0% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 235,677 shares of the electronics maker’s stock after buying an additional 149,349 shares during the period. Fred Alger Management LLC’s holdings in Amphenol were worth $15,878,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Bank of New York Mellon Corp raised its stake in Amphenol by 92.0% during the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after acquiring an additional 17,552,921 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Amphenol by 69.1% during the 2nd 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 purchasing an additional 9,487,387 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Amphenol by 39.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,245,014 shares of the electronics maker’s stock valued at $2,899,059,000 after purchasing an additional 8,340,759 shares during the last quarter. Mawer Investment Management Ltd. increased its position in Amphenol by 88.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after purchasing an additional 7,275,279 shares in the last quarter. Finally, National Bank of Canada FI lifted its stake in Amphenol by 263.0% in the 2nd quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock valued at $240,935,000 after purchasing an additional 2,585,282 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Insider Transactions at Amphenol

In related news, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the sale, the vice president now owns 51,400 shares in the company, valued at approximately $3,323,010. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.65, for a total value of $5,818,500.00. Following the completion of the sale, the vice president now directly owns 51,400 shares in the company, valued at $3,323,010. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Lance E. D’amico sold 100,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.63, for a total value of $6,563,000.00. Following the transaction, the vice president now owns 51,400 shares in the company, valued at $3,373,382. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. Corporate insiders own 1.80% of the company’s stock.

Amphenol Price Performance

Amphenol stock opened at $65.35 on Thursday. The stock’s 50 day moving average is $63.96 and its 200 day moving average is $63.23. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84. The firm has a market cap of $78.70 billion, a P/E ratio of 39.97, a P/E/G ratio of 2.59 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.02 and a quick ratio of 1.32.

Amphenol (NYSE:APH) last issued its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The firm had revenue of $3.61 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter in the previous year, the company earned $0.72 EPS. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. As a group, research analysts expect that Amphenol Co. will post 1.76 EPS for the current year.

Amphenol Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be issued a dividend of $0.165 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a yield of 1.01%. Amphenol’s payout ratio is currently 40.37%.

Analyst Upgrades and Downgrades

APH has been the topic of a number of research reports. Evercore ISI reaffirmed an “outperform” rating on shares of Amphenol in a research note on Thursday, June 13th. TD Cowen boosted their price objective on Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a research report on Thursday, June 6th. Truist Financial upped their target price on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America lowered Amphenol from a “buy” rating to a “neutral” rating and cut their price target for the company from $80.00 to $71.00 in a research note on Wednesday, September 4th. Finally, UBS Group upped their price objective on Amphenol from $69.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.04.

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.