Amphenol Corporation (NYSE:APH) Stock Holdings Lessened 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 trimmed its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 13.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 138,700 shares of the electronics maker's stock after selling 21,300 shares during the quarter. Amphenol accounts for approximately 6.6% of Watchtower Advisors LP's investment portfolio, making the stock its 6th biggest position. Watchtower Advisors LP's holdings in Amphenol were worth $9,097,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of APH. Perigon Wealth Management LLC boosted its stake in shares of Amphenol by 29.4% in the 1st quarter. Perigon Wealth Management LLC now owns 17,438 shares of the electronics maker's stock valued at $1,144,000 after buying an additional 3,964 shares during the period. Raiffeisen Bank International AG purchased a new position in shares of Amphenol in the 4th quarter valued at about $13,847,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Amphenol by 46.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 69,958 shares of the electronics maker's stock worth $4,589,000 after acquiring an additional 22,293 shares in the last quarter. Transcend Capital Advisors LLC raised its position in shares of Amphenol by 14.4% during the 1st quarter. Transcend Capital Advisors LLC now owns 4,504 shares of the electronics maker's stock worth $295,000 after acquiring an additional 568 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Amphenol by 4.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 61,920 shares of the electronics maker's stock worth $4,061,000 after acquiring an additional 2,514 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Amphenol Stock Performance

Shares of APH stock traded up $1.61 during midday trading on Tuesday, hitting $111.42. The company had a trading volume of 3,555,635 shares, compared to its average volume of 8,473,990. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.02 and a quick ratio of 1.46. Amphenol Corporation has a 52-week low of $56.45 and a 52-week high of $111.29. The stock has a market cap of $136.04 billion, a price-to-earnings ratio of 44.32, a PEG ratio of 1.79 and a beta of 1.13. The company's 50 day simple moving average is $99.46 and its 200 day simple moving average is $81.21.

Amphenol (NYSE:APH - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (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 net margin of 16.90% and a return on equity of 30.58%. The business's revenue was up 56.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 EPS. Research analysts anticipate that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

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

Analyst Ratings Changes

APH has been the topic of several research analyst reports. The Goldman Sachs Group reissued a "buy" rating on shares of Amphenol in a research report on Friday, July 11th. KGI Securities initiated coverage on Amphenol in a research report on Thursday, June 26th. They set a "hold" rating on the stock. Truist Financial raised 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. Bank of America raised their target price on Amphenol from $110.00 to $120.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. Finally, Citigroup raised their target price on Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $104.92.

Insider Activity at Amphenol

In other Amphenol news, VP David M. Silverman sold 100,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the sale, the vice president directly owned 12,500 shares in the company, valued at approximately $1,113,625. The trade was a 88.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William J. Doherty sold 160,000 shares of the business's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.54, for a total value of $14,326,400.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 586,000 shares of company stock worth $52,935,980. 1.67% of the stock is owned by company insiders.

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.