TD Asset Management Inc Lowers Stake in Amphenol Corporation (NYSE:APH)

Key Points

• TD Asset Management Inc has reduced its stake in Amphenol Corporation by 8.2%, now owning 3,025,590 shares valued at approximately $198.4 million.
• Insider Luc Walter sold 286,000 shares at an average price of $91.43, marking a 38.76% decrease in their position, while VP David M. Silverman sold 100,000 shares, also significantly reducing their stake.
• Wall Street analysts have generally rated Amphenol as a "Moderate Buy", with several firms increasing their price targets for the stock, suggesting positive sentiment on its future performance.

TD Asset Management Inc decreased its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,025,590 shares of the electronics maker's stock after selling 268,518 shares during the period. TD Asset Management Inc owned 0.25% of Amphenol worth $198,448,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in APH. Hughes Financial Services LLC purchased a new position in shares of Amphenol in the 1st quarter valued at approximately $25,000. Global X Japan Co. Ltd. purchased a new stake in shares of Amphenol in the first quarter valued at approximately $44,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Amphenol in the fourth quarter valued at approximately $48,000. Colonial Trust Co SC boosted its stake in shares of Amphenol by 342.9% in the fourth quarter. Colonial Trust Co SC now owns 868 shares of the electronics maker's stock valued at $60,000 after buying an additional 672 shares in the last quarter. Finally, West Branch Capital LLC purchased a new stake in shares of Amphenol in the first quarter valued at approximately $57,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Insiders Place Their Bets

In related news, VP David M. Silverman sold 100,000 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.09, for a total value of $8,909,000.00. Following the completion of the transaction, the vice president directly owned 12,500 shares in the company, valued at approximately $1,113,625. This represents a 88.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Michael R. Ivas sold 40,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $88.79, for a total value of $3,551,600.00. Following the completion of the transaction, the vice president owned 152,412 shares of the company's stock, valued at $13,532,661.48. The trade was a 20.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 799,500 shares of company stock valued at $70,053,885. 1.67% of the stock is owned by company insiders.

Amphenol Price Performance

Shares of NYSE APH traded down $0.32 during trading on Wednesday, reaching $104.99. The company had a trading volume of 2,561,404 shares, compared to its average volume of 8,490,402. Amphenol Corporation has a twelve month low of $54.77 and a twelve month high of $108.85. The stock has a market capitalization of $128.18 billion, a PE ratio of 41.83, a price-to-earnings-growth ratio of 1.84 and a beta of 1.13. The stock has a 50-day moving average price of $95.80 and a two-hundred day moving average price of $78.94. 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 results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.15. The company had revenue of $5.65 billion during the quarter, compared to analysts' expectations of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The business's revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. As a group, sell-side analysts predict that Amphenol Corporation will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 9th. Investors of record on Tuesday, June 17th were paid a $0.165 dividend. The ex-dividend date was Tuesday, June 17th. This represents a $0.66 annualized dividend and a yield of 0.63%. Amphenol's payout ratio is currently 26.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on APH shares. UBS Group lifted their price target on Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Evercore ISI lifted their price target on Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a research note on Friday, July 18th. Fox Advisors upgraded Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded Amphenol from a "hold" rating to a "buy" rating in a research note on Sunday, June 22nd. Finally, Truist Financial boosted their target price on Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $102.23.

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.