TimesSquare Capital Management LLC Decreases Holdings in Amphenol Co. (NYSE:APH)

TimesSquare Capital Management LLC trimmed its stake in shares of Amphenol Co. (NYSE:APH) by 57.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 669,093 shares of the electronics maker’s stock after selling 907,520 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Amphenol were worth $46,469,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Convergence Investment Partners LLC lifted its holdings in Amphenol by 243.2% during the fourth quarter. Convergence Investment Partners LLC now owns 10,852 shares of the electronics maker’s stock valued at $754,000 after purchasing an additional 7,690 shares in the last quarter. New York State Common Retirement Fund lifted its holdings in Amphenol by 3.9% during the fourth quarter. New York State Common Retirement Fund now owns 1,916,741 shares of the electronics maker’s stock valued at $133,118,000 after purchasing an additional 71,737 shares in the last quarter. Key Financial Inc lifted its holdings in Amphenol by 17.5% during the fourth quarter. Key Financial Inc now owns 1,398 shares of the electronics maker’s stock valued at $97,000 after purchasing an additional 208 shares in the last quarter. D.A. Davidson & CO. lifted its holdings in Amphenol by 162.5% during the fourth quarter. D.A. Davidson & CO. now owns 13,915 shares of the electronics maker’s stock valued at $966,000 after purchasing an additional 8,615 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Amphenol by 4.1% during the fourth quarter. CIBC Asset Management Inc now owns 213,401 shares of the electronics maker’s stock valued at $14,821,000 after purchasing an additional 8,490 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Price Performance

Shares of APH opened at $68.95 on Wednesday. Amphenol Co. has a 1-year low of $52.06 and a 1-year high of $79.39. The stock has a market cap of $83.13 billion, a PE ratio of 36.01, a P/E/G ratio of 1.99 and a beta of 1.23. The firm has a 50-day simple moving average of $71.02 and a two-hundred day simple moving average of $68.54. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 1.75.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.05. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The business had revenue of $4.32 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period last year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, analysts forecast that Amphenol Co. will post 2.36 EPS for the current year.

Amphenol Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 18th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Tuesday, March 18th. Amphenol’s dividend payout ratio is presently 34.46%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. The Goldman Sachs Group raised their price target on shares of Amphenol from $79.00 to $89.00 and gave the stock a “buy” rating in a research note on Thursday, January 23rd. 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 research note on Thursday, January 23rd. Citigroup raised their price target on shares of Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. TD Cowen raised their price target on shares of Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Evercore ISI raised their price target on shares of Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. 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’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.68.

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.