Patton Fund Management Inc. Makes New Investment in Amphenol Co. (NYSE:APH)

Patton Fund Management Inc. purchased a new position in Amphenol Co. (NYSE:APH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 69,410 shares of the electronics maker’s stock, valued at approximately $4,523,000.

Other large investors have also bought and sold shares of the company. Texas Permanent School Fund Corp grew its holdings in 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 purchasing an additional 75,753 shares during the period. United Services Automobile Association grew its holdings in shares of Amphenol by 102.0% during the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock valued at $2,154,000 after buying an additional 16,149 shares during the last quarter. Choreo LLC increased its position in shares of Amphenol by 556.7% during the second quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock worth $2,732,000 after acquiring an additional 34,309 shares in the last quarter. Angeles Wealth Management LLC increased its position in shares of Amphenol by 102.4% during the second quarter. Angeles Wealth Management LLC now owns 3,826 shares of the electronics maker’s stock worth $258,000 after acquiring an additional 1,936 shares in the last quarter. Finally, Czech National Bank increased its position in shares of Amphenol by 7.2% during the third quarter. Czech National Bank now owns 245,326 shares of the electronics maker’s stock worth $15,985,000 after acquiring an additional 16,425 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Amphenol

In related news, insider William J. Doherty sold 300,000 shares of the company’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 transaction of $19,749,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the sale, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,323,010. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider William J. Doherty sold 300,000 shares of the company’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 transaction of $19,749,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,516,000 shares of company stock worth $98,236,640 over the last three months. 1.80% of the stock is currently owned by insiders.

Amphenol Stock Performance

APH traded up $0.98 during midday trading on Thursday, reaching $67.98. The company had a trading volume of 2,782,301 shares, compared to its average volume of 6,530,600. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The stock has a market cap of $81.66 billion, a PE ratio of 41.10, a P/E/G ratio of 2.56 and a beta of 1.24. Amphenol Co. has a 12-month low of $39.34 and a 12-month high of $70.84. The business has a 50-day moving average price of $64.56 and a two-hundred day moving average price of $64.12.

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

Amphenol Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Tuesday, September 17th. Amphenol’s payout ratio is 40.49%.

Analyst Ratings Changes

Several equities research analysts have recently commented on APH shares. Bank of America decreased their target price on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. UBS Group boosted their target price on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Robert W. Baird decreased their target price on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, July 25th. Truist Financial boosted their target price on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Vertical Research began coverage on shares of Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price for the company. Five research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amphenol presently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

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.