Amphenol Corporation (NYSE:APH) Shares Sold by True North Advisors LLC

Key Points

• True North Advisors LLC has reduced its stake in Amphenol Corporation by 12.4%, now holding 43,066 shares worth approximately $2.83 million.
• Amphenol reported a quarterly earnings per share (EPS) of $0.81, surpassing analysts' expectations by $0.15, with revenues of $5.65 billion for the quarter.
• The company recently announced a $0.165 quarterly dividend, which will be paid on October 8th, yielding approximately 0.6% annually.

True North Advisors LLC cut its stake in shares of Amphenol Corporation (NYSE:APH - Free Report) by 12.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 43,066 shares of the electronics maker's stock after selling 6,095 shares during the period. True North Advisors LLC's holdings in Amphenol were worth $2,825,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 period. Price T Rowe Associates Inc. MD raised its holdings in Amphenol by 36.8% during the fourth 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 purchasing an additional 15,837,407 shares in the last quarter. Bank of America Corp DE raised its holdings in Amphenol by 294.0% during the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock worth $1,733,027,000 after purchasing an additional 18,619,417 shares in the last quarter. Northern Trust Corp grew its position in shares of Amphenol by 14.9% during the fourth quarter. Northern Trust Corp now owns 13,065,802 shares of the electronics maker's stock worth $907,420,000 after acquiring an additional 1,689,632 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Amphenol by 40.1% during the first quarter. Goldman Sachs Group Inc. now owns 7,732,690 shares of the electronics maker's stock worth $507,187,000 after acquiring an additional 2,211,338 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Amphenol Price Performance

Shares of APH stock opened at $110.01 on Friday. 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 firm has a market cap of $134.31 billion, a price-to-earnings ratio of 43.83, a P/E/G ratio of 1.77 and a beta of 1.13. The stock's fifty day simple moving average is $99.07 and its 200 day simple moving average is $80.95. Amphenol Corporation has a one year low of $56.45 and a one year high of $110.60.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.15. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.01 billion. Amphenol had a return on equity of 30.58% and a net margin of 16.90%. The firm's revenue was up 56.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 earnings per share. On average, 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 paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Tuesday, September 16th. Amphenol's payout ratio is presently 26.29%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on APH shares. Wall Street Zen raised Amphenol from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Truist Financial boosted their target price on shares of Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. UBS Group lifted their price target on Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 24th. The Goldman Sachs Group restated a "buy" rating on shares of Amphenol in a report on Friday, July 11th. Finally, Citigroup boosted their target price on Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $104.92.

Insiders Place Their Bets

In other news, insider William J. Doherty sold 160,000 shares of the company's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $89.54, for a total transaction of $14,326,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Luc Walter sold 286,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $91.43, for a total value of $26,148,980.00. Following the transaction, the insider directly owned 451,790 shares of the company's stock, valued at $41,307,159.70. This represents a 38.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 586,000 shares of company stock valued at $52,935,980 in the last three months. 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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