Amphenol Corporation (NYSE:APH) Stake Cut by Watchtower Advisors LP

Key Points

• Watchtower Advisors LP has reduced its stake in Amphenol Corporation by 13.3%, selling 21,300 shares and retaining 138,700 shares, which now represent 6.6% of its portfolio.
• Amphenol reported strong earnings, with $0.81 EPS for the latest quarter, exceeding expectations of $0.66, and revenue of $5.65 billion, up 56.5% year-over-year.
• The company announced a quarterly dividend of $0.165 per share, which will be paid on October 8th, reflecting an annualized yield of 0.6%.

Watchtower Advisors LP lowered its position in Amphenol Corporation (NYSE:APH - Free Report) by 13.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 138,700 shares of the electronics maker's stock after selling 21,300 shares during the quarter. Amphenol comprises approximately 6.6% of Watchtower Advisors LP's portfolio, making the stock its 6th largest holding. Watchtower Advisors LP's holdings in Amphenol were worth $9,097,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Forum Financial Management LP increased its position in shares of Amphenol by 1.9% during the first quarter. Forum Financial Management LP now owns 6,681 shares of the electronics maker's stock worth $438,000 after purchasing an additional 126 shares in the last quarter. Ironwood Investment Counsel LLC grew its position in shares of Amphenol by 2.9% in the first quarter. Ironwood Investment Counsel LLC now owns 4,676 shares of the electronics maker's stock valued at $307,000 after purchasing an additional 132 shares in the last quarter. FourThought Financial Partners LLC increased its holdings in shares of Amphenol by 4.1% in the first quarter. FourThought Financial Partners LLC now owns 3,525 shares of the electronics maker's stock valued at $231,000 after purchasing an additional 139 shares during the last quarter. Gallacher Capital Management LLC increased its stake in shares of Amphenol by 4.6% in the 1st quarter. Gallacher Capital Management LLC now owns 3,197 shares of the electronics maker's stock worth $210,000 after acquiring an additional 142 shares during the last quarter. Finally, Adell Harriman & Carpenter Inc. raised its holdings in shares of Amphenol by 2.5% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 5,936 shares of the electronics maker's stock worth $389,000 after acquiring an additional 143 shares during the period. Institutional investors own 97.01% of the company's stock.

Amphenol Stock Performance

NYSE:APH opened at $108.56 on Friday. Amphenol Corporation has a 52 week low of $56.45 and a 52 week high of $110.38. The company has a fifty day simple moving average of $98.66 and a two-hundred day simple moving average of $80.69. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. The company has a market cap of $132.54 billion, a price-to-earnings ratio of 43.25, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13.

Amphenol (NYSE:APH - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.66 by $0.15. The firm 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%. Amphenol's revenue for the quarter was up 56.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 EPS. As a group, equities analysts anticipate that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The company also recently disclosed 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 of this dividend is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.6%. Amphenol's dividend payout ratio is currently 26.29%.

Insider Activity

In other news, VP Michael R. Ivas sold 40,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $88.79, for a total value of $3,551,600.00. Following the transaction, the vice president owned 152,412 shares in the company, valued at approximately $13,532,661.48. This represents a 20.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Luc Walter sold 286,000 shares of the firm'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 sale, the insider directly owned 451,790 shares in the company, valued at $41,307,159.70. This trade represents a 38.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 586,000 shares of company stock valued at $52,935,980. 1.67% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on APH shares. Fox Advisors raised shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 target price on the stock in a research note on Thursday, April 24th. KGI Securities initiated coverage on shares of Amphenol in a research report on Thursday, June 26th. They set a "hold" rating on the stock. TD Securities increased their price objective on Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a research report on Thursday, May 1st. Evercore ISI lifted their target price on Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Finally, Truist Financial increased their price target on Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $104.92.

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.

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