Mesirow Financial Investment Management Inc. Reduces Stock Holdings in Amphenol Corporation (NYSE:APH)

Key Points

• Mesirow Financial Investment Management Inc. has reduced its stake in Amphenol Corporation by 17.2%, now holding 31,588 shares valued at approximately $2.07 million.
• Notably, other institutional investors such as FMR LLC and Bank of America Corp DE increased their holdings significantly in Amphenol during the fourth quarter, indicating strong institutional interest.
• Amphenol reported strong earnings with a 56.5% year-over-year revenue increase, achieving $5.65 billion and surpassing analyst expectations.

Mesirow Financial Investment Management Inc. reduced its position in Amphenol Corporation (NYSE:APH - Free Report) by 17.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,588 shares of the electronics maker's stock after selling 6,566 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Amphenol were worth $2,072,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. 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. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $4,091,426,000 after purchasing an additional 15,837,407 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Amphenol by 118.4% during the 4th quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker's stock valued at $503,975,000 after purchasing an additional 3,933,269 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Amphenol by 108.9% during the 4th quarter. Mackenzie Financial Corp now owns 5,564,252 shares of the electronics maker's stock valued at $386,437,000 after purchasing an additional 2,900,024 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Amphenol by 2.6% during the 4th quarter. FMR LLC now owns 104,250,575 shares of the electronics maker's stock valued at $7,240,202,000 after purchasing an additional 2,643,752 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Amphenol Trading Down 2.1%

NYSE APH traded down $2.22 during trading hours on Friday, reaching $104.29. The company had a trading volume of 8,736,054 shares, compared to its average volume of 8,870,272. The stock has a 50-day moving average of $96.99 and a 200 day moving average of $79.62. Amphenol Corporation has a 1-year low of $54.77 and a 1-year high of $108.85. The company has a current ratio of 2.02, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $127.33 billion, a P/E ratio of 41.55, a price-to-earnings-growth ratio of 1.78 and a beta of 1.13.

Amphenol (NYSE:APH - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.15. The company had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.01 billion. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The business's revenue for the quarter was up 56.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Tuesday, September 16th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Amphenol's dividend payout ratio (DPR) is 26.29%.

Insider Buying and Selling

In related news, VP David M. Silverman sold 100,000 shares of the company's stock in a transaction that occurred on Friday, May 30th. The shares were 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. This represents a 88.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Michael R. Ivas sold 40,000 shares of the company's stock in a transaction that occurred 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 586,000 shares of company stock valued at $52,935,980. 1.67% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

APH has been the subject of several recent research reports. Wall Street Zen raised shares of Amphenol from a "buy" rating to a "strong-buy" rating in a report on Saturday. US Capital Advisors set a $85.00 price target on shares of Amphenol in a research note on Thursday, April 24th. Citigroup lifted their price target on shares of Amphenol from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Thursday, July 24th. Truist Financial lifted their price target 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. Finally, Industrial Alliance Securities set a $115.00 price target on shares of Amphenol in a research note on Friday, July 11th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Amphenol has a consensus rating of "Moderate Buy" and an average price target of $102.23.

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.