Concentric Capital Strategies LP Reduces Stock Position in Amphenol Co. (NYSE:APH)

Concentric Capital Strategies LP cut its holdings in Amphenol Co. (NYSE:APH) by 20.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,280 shares of the electronics maker’s stock after selling 25,818 shares during the quarter. Concentric Capital Strategies LP’s holdings in Amphenol were worth $6,599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of APH. Atalan Capital Partners LP raised its holdings in Amphenol by 21.3% in the 3rd quarter. Atalan Capital Partners LP now owns 1,395,000 shares of the electronics maker’s stock worth $90,898,000 after purchasing an additional 245,000 shares in the last quarter. Benjamin Edwards Inc. raised its stake in Amphenol by 7,335.4% in the third quarter. Benjamin Edwards Inc. now owns 220,162 shares of the electronics maker’s stock worth $14,345,000 after buying an additional 217,201 shares in the last quarter. Atom Investors LP purchased a new stake in Amphenol in the third quarter worth about $890,000. Erste Asset Management GmbH bought a new stake in Amphenol during the 3rd quarter valued at approximately $3,664,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Amphenol during the 3rd quarter worth approximately $1,094,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Stock Performance

APH stock opened at $72.65 on Monday. The stock has a market capitalization of $87.59 billion, a PE ratio of 41.75, a price-to-earnings-growth ratio of 2.42 and a beta of 1.23. The stock’s 50 day simple moving average is $68.51 and its 200 day simple moving average is $66.71. Amphenol Co. has a 12-month low of $45.01 and a 12-month high of $74.93. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.81 billion. During the same period last year, the firm posted $0.39 earnings per share. Amphenol’s revenue was up 26.3% compared to the same quarter last year. As a group, research analysts forecast that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s payout ratio is currently 37.93%.

Analysts Set New Price Targets

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

Insider Transactions at Amphenol

In related news, insider Peter Straub sold 132,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $74.12, for a total value of $9,783,840.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Richard Adam Norwitt sold 900,672 shares of the firm’s 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 sale, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $133,136,890.88. The trade was a 31.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,842,672 shares of company stock worth $128,858,080 in the last quarter. Company insiders own 1.80% of the company’s stock.

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.