Thrive Wealth Management LLC Reduces Holdings in Amphenol Co. (NYSE:APH)

Thrive Wealth Management LLC lessened its position in shares of Amphenol Co. (NYSE:APH) by 6.2% during the 4th quarter, Holdings Channel reports. The institutional investor owned 15,606 shares of the electronics maker’s stock after selling 1,036 shares during the quarter. Thrive Wealth Management LLC’s holdings in Amphenol were worth $1,084,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. XTX Topco Ltd acquired a new stake in shares of Amphenol during the second quarter valued at about $242,000. Intech Investment Management LLC increased its holdings in Amphenol by 80.2% in the 2nd quarter. Intech Investment Management LLC now owns 23,225 shares of the electronics maker’s stock valued at $1,565,000 after purchasing an additional 10,337 shares during the last quarter. Benjamin Edwards Inc. raised its position in Amphenol by 74.8% in the second quarter. Benjamin Edwards Inc. now owns 2,961 shares of the electronics maker’s stock valued at $199,000 after purchasing an additional 1,267 shares during the period. Canada Pension Plan Investment Board lifted its stake in Amphenol by 12.4% during the second quarter. Canada Pension Plan Investment Board now owns 246,615 shares of the electronics maker’s stock worth $16,614,000 after purchasing an additional 27,159 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its position in shares of Amphenol by 100.2% during the second quarter. King Luther Capital Management Corp now owns 34,032 shares of the electronics maker’s stock worth $2,293,000 after buying an additional 17,029 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial increased their target price on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Evercore ISI increased their price objective on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Bank of America upped their price target on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. TD Cowen upped their target price 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, Robert W. Baird lifted their price target on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amphenol has a consensus rating of “Moderate Buy” and an average target price of $69.79.

Insider Transactions at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. This represents a 31.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the completion of the sale, the chief financial officer now owns 218,116 shares in the company, valued at $14,997,656.16. This represents a 40.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,842,672 shares of company stock worth $128,858,080 over the last ninety days. 1.80% of the stock is currently owned by company insiders.

Amphenol Stock Performance

Shares of APH opened at $69.44 on Monday. The company’s 50 day simple moving average is $71.82 and its 200-day simple moving average is $67.75. The firm has a market cap of $83.71 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. Amphenol Co. has a 12-month low of $47.76 and a 12-month high of $75.78. 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 announced its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.81 billion. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 earnings per share. As a group, equities analysts predict that Amphenol Co. will post 1.84 EPS for the current year.

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, December 17th. Amphenol’s payout ratio is 37.93%.

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.