Dai ichi Life Insurance Company Ltd Increases Stake in Amphenol Co. (NYSE:APH)

Dai ichi Life Insurance Company Ltd grew its stake in Amphenol Co. (NYSE:APH) by 79.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 337,642 shares of the electronics maker’s stock after purchasing an additional 149,043 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Amphenol were worth $22,747,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Texas Permanent School Fund Corp raised its position in shares of Amphenol by 61.1% in the second quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock worth $13,458,000 after acquiring an additional 75,753 shares during the period. United Services Automobile Association boosted its position in Amphenol by 102.0% during the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock worth $2,154,000 after purchasing an additional 16,149 shares in the last quarter. Franklin Resources Inc. grew its holdings in Amphenol by 0.5% in the fourth quarter. Franklin Resources Inc. now owns 4,015,628 shares of the electronics maker’s stock valued at $398,069,000 after purchasing an additional 20,521 shares during the period. Choreo LLC increased its position in shares of Amphenol by 556.7% in the second quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock valued at $2,732,000 after buying an additional 34,309 shares in the last quarter. Finally, Angeles Wealth Management LLC raised its stake in shares of Amphenol by 102.4% during the 2nd quarter. Angeles Wealth Management LLC now owns 3,826 shares of the electronics maker’s stock worth $258,000 after buying an additional 1,936 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Robert W. Baird cut their price target on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. UBS Group lifted their price objective on Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Bank of America cut Amphenol from a “buy” rating to a “neutral” rating and reduced their target price for the company from $80.00 to $71.00 in a report on Wednesday, September 4th. Citigroup raised their price target on shares of Amphenol from $67.50 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Finally, Truist Financial boosted their price objective on Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Six investment 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.04.

Insider Buying and Selling at Amphenol

In other news, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total value of $19,749,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider William J. Doherty sold 300,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the transaction, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. The disclosure for this sale can be found here. Insiders sold a total of 1,516,000 shares of company stock valued at $98,236,640 in the last three months. 1.80% of the stock is owned by corporate insiders.

Amphenol Price Performance

Shares of APH opened at $63.58 on Friday. The firm has a 50-day simple moving average of $64.61 and a two-hundred day simple moving average of $62.64. 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 Co. has a 1-year low of $39.34 and a 1-year high of $70.84. The stock has a market cap of $76.57 billion, a PE ratio of 38.89, a P/E/G ratio of 2.45 and a beta of 1.24.

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

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Tuesday, September 17th. Amphenol’s dividend payout ratio (DPR) is 26.91%.

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.