Summit Global Investments Decreases Stock Holdings in Amphenol Co. (NYSE:APH)

Summit Global Investments trimmed its position in shares of Amphenol Co. (NYSE:APH) by 79.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,619 shares of the electronics maker’s stock after selling 37,925 shares during the quarter. Summit Global Investments’ holdings in Amphenol were worth $668,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in Amphenol by 3.0% during the third quarter. State Street Corp now owns 53,534,216 shares of the electronics maker’s stock valued at $3,496,777,000 after acquiring an additional 1,537,880 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Amphenol by 2.3% during the 3rd quarter. Geode Capital Management LLC now owns 24,666,093 shares of the electronics maker’s stock valued at $1,601,540,000 after purchasing an additional 564,991 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Amphenol by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,760,270 shares of the electronics maker’s stock valued at $469,501,000 after purchasing an additional 201,600 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Amphenol by 89.5% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 4,303,215 shares of the electronics maker’s stock worth $280,397,000 after purchasing an additional 2,032,402 shares in the last quarter. Finally, Swedbank AB increased its position in Amphenol by 19.4% during the 4th quarter. Swedbank AB now owns 4,300,252 shares of the electronics maker’s stock valued at $298,653,000 after buying an additional 700,000 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on APH. JPMorgan Chase & Co. raised their price target on Amphenol from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Thursday, January 23rd. Citigroup boosted their target price on shares of Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Truist Financial raised their price target on shares of Amphenol from $90.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Bank of America upped their target price on Amphenol from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, Robert W. Baird lifted their price target on Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Five 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 company. According to MarketBeat.com, Amphenol has a consensus rating of “Moderate Buy” and a consensus price target of $80.68.

Amphenol Stock Up 0.6 %

Shares of APH stock opened at $66.78 on Monday. Amphenol Co. has a twelve month low of $54.72 and a twelve month high of $79.39. The stock has a market cap of $80.92 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.92 and a beta of 1.25. The stock has a 50 day moving average of $68.01 and a 200 day moving average of $68.57. 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 (NYSE:APH) last posted its earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $4.32 billion during the quarter, compared to analyst estimates of $4.05 billion. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 EPS. As a group, sell-side analysts expect that Amphenol Co. will post 2.36 EPS for the current year.

Amphenol Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 18th will be paid a $0.165 dividend. The ex-dividend date is Tuesday, March 18th. This represents a $0.66 annualized dividend and a dividend yield of 0.99%. Amphenol’s dividend payout ratio is presently 34.55%.

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.