Fred Alger Management LLC Sells 16,061 Shares of Amphenol Co. (NYSE:APH)

Fred Alger Management LLC lowered its stake in shares of Amphenol Co. (NYSE:APH - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 199,386 shares of the electronics maker's stock after selling 16,061 shares during the quarter. Fred Alger Management LLC's holdings in Amphenol were worth $13,880,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Amphenol by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 152,127,847 shares of the electronics maker's stock valued at $10,565,279,000 after purchasing an additional 2,108,578 shares during the last quarter. FMR LLC boosted its holdings in Amphenol by 2.6% in the 4th quarter. FMR LLC now owns 104,250,575 shares of the electronics maker's stock worth $7,240,202,000 after buying an additional 2,643,752 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Amphenol by 36.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock worth $4,091,426,000 after buying an additional 15,837,407 shares during the period. Geode Capital Management LLC boosted its holdings in Amphenol by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 25,325,653 shares of the electronics maker's stock worth $1,754,672,000 after buying an additional 659,560 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Amphenol by 294.0% in the 4th quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock worth $1,733,027,000 after buying an additional 18,619,417 shares during the period. Institutional investors own 97.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on APH. Citigroup raised their price objective on shares of Amphenol from $75.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, April 24th. TD Securities increased their price target on shares of Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Truist Financial increased 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. Fox Advisors raised shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a report on Thursday, April 24th. Finally, UBS Group reissued a "buy" rating and issued a $85.00 price target (up from $78.00) on shares of Amphenol in a report on Thursday, April 24th. Five research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $81.62.

Insiders Place Their Bets

In other news, insider William J. Doherty sold 126,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $80.28, for a total value of $10,115,280.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Lance E. D'amico sold 175,000 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $76.28, for a total transaction of $13,349,000.00. Following the completion of the transaction, the vice president now owns 51,400 shares in the company, valued at $3,920,792. This represents a 77.30% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,178,500 shares of company stock valued at $241,903,805. 1.67% of the stock is currently owned by corporate insiders.

Amphenol Price Performance

Shares of Amphenol stock traded up $0.20 on Friday, hitting $80.78. 6,917,887 shares of the company traded hands, compared to its average volume of 7,508,345. The firm's 50-day simple moving average is $68.09 and its 200 day simple moving average is $69.84. The company has a current ratio of 2.37, a quick ratio of 1.75 and a debt-to-equity ratio of 0.66. The company has a market cap of $97.71 billion, a P/E ratio of 42.18, a P/E/G ratio of 1.92 and a beta of 1.10. Amphenol Co. has a 12-month low of $54.77 and a 12-month high of $81.82.

Amphenol (NYSE:APH - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.11. The firm had revenue of $4.81 billion for the quarter, compared to analysts' expectations of $4.20 billion. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The business's quarterly revenue was up 47.7% on a year-over-year basis. During the same quarter last year, the company posted $0.40 EPS. Analysts expect that Amphenol Co. will post 2.36 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Tuesday, June 17th. Amphenol's dividend payout ratio (DPR) is presently 32.04%.

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.