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Maryland State Retirement & Pension System Decreases Stake in Amphenol Corporation (NYSE:APH)

Amphenol logo with Computer and Technology background

Key Points

  • The Maryland State Retirement & Pension System has reduced its stake in Amphenol Corporation by 13.0%, now owning 55,230 shares valued at approximately $3.6 million after selling 8,236 shares.
  • Meanwhile, other institutional investors, such as Vanguard Group and Goldman Sachs Group, have increased their holdings in Amphenol, indicating strong institutional interest in the company.
  • Amphenol's recent earnings report showed a significant 56.5% year-over-year revenue growth and an earnings per share (EPS) of $0.81, surpassing analysts' expectations.
  • Want stock alerts on Amphenol? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Maryland State Retirement & Pension System reduced its stake in Amphenol Corporation (NYSE:APH - Free Report) by 13.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,230 shares of the electronics maker's stock after selling 8,236 shares during the quarter. Maryland State Retirement & Pension System's holdings in Amphenol were worth $3,623,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Amphenol by 1.9% during the 1st 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. Price T Rowe Associates Inc. MD raised its position in Amphenol by 36.8% during the 4th 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 buying an additional 15,837,407 shares during the last quarter. Bank of America Corp DE raised its position in Amphenol by 294.0% during the 4th quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock worth $1,733,027,000 after buying an additional 18,619,417 shares during the last quarter. Northern Trust Corp raised its position in Amphenol by 14.9% during the 4th quarter. Northern Trust Corp now owns 13,065,802 shares of the electronics maker's stock worth $907,420,000 after buying an additional 1,689,632 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Amphenol by 40.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 7,732,690 shares of the electronics maker's stock worth $507,187,000 after buying an additional 2,211,338 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

APH has been the subject of several recent research reports. Robert W. Baird lifted their target price on shares of Amphenol from $113.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Wall Street Zen raised shares of Amphenol from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. Truist Financial lifted their target price on shares of Amphenol from $102.00 to $126.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Fox Advisors raised shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 target price for the company in a report on Thursday, April 24th. Finally, UBS Group lifted their target price on shares of Amphenol from $115.00 to $120.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Four equities research 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. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $104.92.

View Our Latest Report on Amphenol

Insider Buying and Selling

In other news, VP Michael R. Ivas sold 40,000 shares of Amphenol stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the transaction, the vice president owned 152,412 shares in the company, valued at $13,532,661.48. The trade was a 20.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Luc Walter sold 286,000 shares of Amphenol stock in a transaction on 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 owned 451,790 shares in the company, valued at approximately $41,307,159.70. This represents a 38.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 586,000 shares of company stock worth $52,935,980 in the last quarter. 1.67% of the stock is currently owned by insiders.

Amphenol Trading Down 0.9%

Shares of 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 quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average is $98.66 and its two-hundred day moving average is $80.69. The stock has a market cap of $132.54 billion, a PE 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 announced its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.15. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The company had revenue of $5.65 billion for the quarter, compared to analysts' expectations of $5.01 billion. During the same quarter in the previous year, the company posted $0.44 EPS. The firm's quarterly revenue was up 56.5% on a year-over-year basis. Research analysts forecast 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 dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 16th. Amphenol's payout ratio is currently 26.29%.

Amphenol Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Amphenol (NYSE:APH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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