Amphenol Corporation $APH Shares Sold by Cookson Peirce & Co. Inc.

Key Points

• Cookson Peirce & Co. Inc. reduced its stake in Amphenol Corporation by 2.0%, now holding 1,006,250 shares valued at approximately $99.37 million.
• Amphenol reported a quarterly earnings per share of $0.81, exceeding estimates by $0.15, with revenues of $5.65 billion for the quarter.
• The company announced a quarterly dividend of $0.165, translating to an annualized yield of 0.5%, with a payout ratio of 26.29%.

Cookson Peirce & Co. Inc. cut its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 2.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,006,250 shares of the electronics maker's stock after selling 21,001 shares during the quarter. Amphenol makes up 4.4% of Cookson Peirce & Co. Inc.'s portfolio, making the stock its 2nd largest position. Cookson Peirce & Co. Inc. owned 0.08% of Amphenol worth $99,367,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in APH. Vanguard Group Inc. boosted its holdings in Amphenol by 1.9% during the first quarter. Vanguard Group Inc. now owns 154,998,780 shares of the electronics maker's stock worth $10,166,370,000 after buying an additional 2,870,933 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its position in Amphenol by 196.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 16,743,239 shares of the electronics maker's stock valued at $1,098,190,000 after buying an additional 11,092,282 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Amphenol by 73.5% during the 1st quarter. Wellington Management Group LLP now owns 12,168,971 shares of the electronics maker's stock worth $798,163,000 after purchasing an additional 5,154,860 shares during the last quarter. Invesco Ltd. increased its position in shares of Amphenol by 1.6% during the 1st quarter. Invesco Ltd. now owns 9,198,997 shares of the electronics maker's stock worth $603,362,000 after purchasing an additional 141,069 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Amphenol by 639.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,758,951 shares of the electronics maker's stock worth $574,500,000 after purchasing an additional 7,573,750 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Amphenol Price Performance

Shares of Amphenol stock opened at $124.60 on Wednesday. The firm has a market capitalization of $152.13 billion, a PE ratio of 49.64, a price-to-earnings-growth ratio of 1.67 and a beta of 1.17. Amphenol Corporation has a 12 month low of $56.45 and a 12 month high of $128.12. The business's 50-day moving average price is $118.01 and its 200-day moving average price is $99.22. The company has a current ratio of 2.02, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61.

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

Amphenol Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 8th. Stockholders of record on Tuesday, September 16th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 16th. Amphenol's dividend payout ratio (DPR) is 26.29%.

Analysts Set New Price Targets

A number of brokerages have commented on APH. Truist Financial upped their price objective on Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price objective on Amphenol from $125.00 to $145.00 and gave the company an "overweight" rating in a research note on Thursday, October 16th. Citigroup reiterated a "buy" rating and issued a $145.00 target price (up from $125.00) on shares of Amphenol in a research report on Wednesday, September 24th. KGI Securities began coverage on Amphenol in a research report on Thursday, June 26th. They issued a "hold" rating for the company. Finally, Bank of America upgraded Amphenol from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $120.00 to $150.00 in a research report on Wednesday, October 15th. Ten analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $118.00.

Insider Transactions at Amphenol

In related news, CFO Craig A. Lampo sold 199,848 shares of Amphenol stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $110.43, for a total transaction of $22,069,214.64. Following the transaction, the chief financial officer directly owned 125,695 shares in the company, valued at approximately $13,880,498.85. The trade was a 61.39% 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, insider William J. Doherty sold 113,000 shares of the business's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $108.89, for a total value of $12,304,570.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 665,924 shares of company stock valued at $73,369,357. Corporate insiders own 1.67% of the company's stock.

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.

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