State of New Jersey Common Pension Fund D Sells 37,234 Shares of Amphenol Corporation $APH

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Amphenol Corporation by 8.4%, holding 407,098 shares valued at approximately $26.70 million.
• Amphenol reported $0.81 earnings per share for the most recent quarter, exceeding analysts' expectations and marking a 56.5% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.165, translating to an annual yield of 0.6%, with the effective dividend payout ratio currently at 26.29%.

State of New Jersey Common Pension Fund D lowered its stake in shares of Amphenol Corporation (NYSE:APH - Free Report) by 8.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 407,098 shares of the electronics maker's stock after selling 37,234 shares during the period. State of New Jersey Common Pension Fund D's holdings in Amphenol were worth $26,702,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Independent Advisor Alliance lifted its stake in Amphenol by 1.7% during the 1st quarter. Independent Advisor Alliance now owns 7,180 shares of the electronics maker's stock valued at $471,000 after acquiring an additional 122 shares during the period. Forum Financial Management LP lifted its stake in Amphenol by 1.9% during the 1st quarter. Forum Financial Management LP now owns 6,681 shares of the electronics maker's stock valued at $438,000 after acquiring an additional 126 shares during the period. Ironwood Investment Counsel LLC lifted its stake in Amphenol by 2.9% during the 1st quarter. Ironwood Investment Counsel LLC now owns 4,676 shares of the electronics maker's stock valued at $307,000 after acquiring an additional 132 shares during the period. FourThought Financial Partners LLC lifted its stake in shares of Amphenol by 4.1% in the 1st quarter. FourThought Financial Partners LLC now owns 3,525 shares of the electronics maker's stock worth $231,000 after purchasing an additional 139 shares during the period. Finally, Gallacher Capital Management LLC lifted 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 purchasing an additional 142 shares during the period. Institutional investors own 97.01% of the company's stock.

Insider Activity

In other Amphenol news, insider William J. Doherty sold 160,000 shares of Amphenol stock in a transaction on Friday, May 30th. The shares were sold at an average price of $89.54, for a total transaction of $14,326,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly owned 152,412 shares of the company's stock, 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. Insiders sold 812,000 shares of company stock valued at $77,703,320 over the last ninety days. 1.67% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

APH has been the topic of several recent research reports. US Capital Advisors set a $85.00 price objective on shares of Amphenol in a research note on Thursday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of Amphenol from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. Truist Financial increased their price objective on shares of Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Robert W. Baird increased their price objective on shares of Amphenol from $113.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Industrial Alliance Securities set a $115.00 price objective on shares of Amphenol in a research note on Friday, July 11th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Amphenol currently has a consensus rating of "Moderate Buy" and an average target price of $104.92.

Amphenol Price Performance

APH traded up $1.92 during trading hours on Monday, hitting $111.13. The company's stock had a trading volume of 6,808,435 shares, compared to its average volume of 9,359,343. The business's 50-day moving average price is $101.26 and its 200-day moving average price is $82.65. Amphenol Corporation has a 12 month low of $56.45 and a 12 month high of $112.35. The stock has a market cap of $135.68 billion, a price-to-earnings ratio of 44.28, a P/E/G ratio of 1.75 and a beta of 1.13. The company has a current ratio of 2.02, a quick ratio of 1.46 and a debt-to-equity ratio of 0.61.

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 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 business posted $0.44 earnings per share. Amphenol's quarterly revenue was up 56.5% on a year-over-year basis. Sell-side analysts expect that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

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 paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend 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%.

Amphenol Company 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.