Amphenol Corporation (NYSE:APH) Shares Purchased by AGF Management Ltd.

Key Points

• AGF Management Ltd. increased its ownership in Amphenol Corporation by 175.2%, acquiring 652,125 shares during the first quarter, bringing their total holdings to approximately 1,024,293 shares worth $67.2 million.
• Insider selling included William J. Doherty offloading 160,000 shares for over $14.3 million, while Amphenol's insiders collectively sold 586,000 shares totaling nearly $52.9 million in the last quarter.
• Following an earnings report that exceeded expectations, analysts have raised their price targets for Amphenol, with a consensus target of $104.92, indicating continued investor interest in the stock.

AGF Management Ltd. increased its stake in shares of Amphenol Corporation (NYSE:APH - Free Report) by 175.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,024,293 shares of the electronics maker's stock after purchasing an additional 652,125 shares during the quarter. AGF Management Ltd. owned approximately 0.08% of Amphenol worth $67,183,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in APH. Brighton Jones LLC lifted its stake in shares of Amphenol by 114.0% during the 4th quarter. Brighton Jones LLC now owns 17,624 shares of the electronics maker's stock worth $1,224,000 after purchasing an additional 9,390 shares during the last quarter. Revolve Wealth Partners LLC increased its position in Amphenol by 87.9% during the 4th quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker's stock valued at $701,000 after buying an additional 4,721 shares in the last quarter. Scotia Capital Inc. increased its position in Amphenol by 128.2% during the 4th quarter. Scotia Capital Inc. now owns 25,984 shares of the electronics maker's stock valued at $1,805,000 after buying an additional 14,599 shares in the last quarter. Sterling Capital Management LLC increased its position in Amphenol by 4.7% during the 4th quarter. Sterling Capital Management LLC now owns 30,785 shares of the electronics maker's stock valued at $2,138,000 after buying an additional 1,380 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in Amphenol by 38.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 294,987 shares of the electronics maker's stock valued at $20,545,000 after buying an additional 82,375 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amphenol news, insider William J. Doherty sold 113,000 shares of Amphenol stock in a transaction on Monday, August 11th. The stock was sold at an average price of $110.29, for a total value of $12,462,770.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Luc Walter sold 286,000 shares of Amphenol stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $91.43, for a total value of $26,148,980.00. Following the completion of the sale, the insider owned 451,790 shares in the company, valued at $41,307,159.70. This represents a 38.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 812,000 shares of company stock worth $77,703,320 over the last ninety days. Company insiders own 1.67% of the company's stock.

Amphenol Trading Up 1.7%

Amphenol stock traded up $1.85 during trading on Tuesday, reaching $111.66. 7,075,291 shares of the company were exchanged, compared to its average volume of 9,124,167. Amphenol Corporation has a 52-week low of $56.45 and a 52-week high of $111.87. The company has a market capitalization of $136.33 billion, a P/E ratio of 44.49, a PEG ratio of 1.79 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.46. The stock's 50 day simple moving average is $99.86 and its two-hundred day simple moving average is $81.43.

Amphenol (NYSE:APH - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.15. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter last year, the business posted $0.44 earnings per share. The firm's revenue was up 56.5% compared to the same quarter last year. On average, equities research analysts expect that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Tuesday, September 16th will be given a $0.165 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Amphenol's payout ratio is currently 26.29%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Bank of America upped their target price on Amphenol from $110.00 to $120.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Robert W. Baird increased their price objective on Amphenol from $113.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. UBS Group increased their price objective on Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Fox Advisors raised Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 target price on the stock in a report on Thursday, April 24th. Finally, Truist Financial raised their target price on Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $104.92.

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.