Gallo Partners LP Invests $2.26 Million in Amphenol Co. (NYSE:APH)

Gallo Partners LP purchased a new position in Amphenol Co. (NYSE:APH - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 32,563 shares of the electronics maker's stock, valued at approximately $2,262,000. Amphenol accounts for about 1.7% of Gallo Partners LP's investment portfolio, making the stock its 24th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in Amphenol in the 4th quarter worth about $1,378,794,000. Price T Rowe Associates Inc. MD increased its position in shares of Amphenol by 36.8% in the fourth 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 purchasing an additional 15,837,407 shares during the last quarter. Wellington Management Group LLP raised its stake in Amphenol by 619.9% in the fourth quarter. Wellington Management Group LLP now owns 7,014,111 shares of the electronics maker's stock valued at $487,130,000 after purchasing an additional 6,039,845 shares in the last quarter. FMR LLC lifted its position in Amphenol by 2.6% during the fourth 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 during the last quarter. Finally, Madison Investment Advisors LLC purchased a new position in Amphenol in the 4th quarter worth approximately $157,749,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insider Buying and Selling

In other news, CFO Craig A. Lampo sold 400,000 shares of the company's stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $75.93, for a total value of $30,372,000.00. Following the sale, the chief financial officer now directly owns 100,000 shares of the company's stock, valued at $7,593,000. This represents a 80.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Richard Adam Norwitt sold 2,000,000 shares of Amphenol stock in a transaction dated Friday, April 25th. The shares were sold at an average price of $75.73, for a total transaction of $151,460,000.00. Following the transaction, the chief executive officer now directly owns 2,002,507 shares of the company's stock, valued at approximately $151,649,855.11. This trade represents a 49.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,965,000 shares of company stock valued at $224,785,900 over the last ninety days. Company insiders own 1.67% of the company's stock.

Amphenol Trading Up 2.7 %

Shares of NYSE:APH traded up $2.13 during midday trading on Friday, hitting $80.76. 7,706,737 shares of the stock traded hands, compared to its average volume of 7,467,869. The company has a quick ratio of 1.75, a current ratio of 2.37 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $97.69 billion, a PE ratio of 42.17, a P/E/G ratio of 1.92 and a beta of 1.10. Amphenol Co. has a one year low of $54.77 and a one year high of $81.00. The business's 50 day moving average is $66.53 and its two-hundred day moving average is $69.37.

Amphenol (NYSE:APH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.11. Amphenol had a return on equity of 25.67% and a net margin of 15.92%. The company had revenue of $4.81 billion during the quarter, compared to analyst estimates of $4.20 billion. During the same quarter last year, the firm posted $0.40 earnings per share. The firm's revenue was up 47.7% on a year-over-year basis. As a group, research analysts forecast that Amphenol Co. will post 2.36 earnings per share for the current year.

Amphenol Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Investors of record on Tuesday, June 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.66 annualized dividend and a dividend yield of 0.82%. Amphenol's dividend payout ratio is presently 32.04%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APH. US Capital Advisors set a $85.00 price objective on shares of Amphenol in a report on Thursday, April 24th. Citigroup increased their price objective on Amphenol from $75.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, April 24th. Fox Advisors upgraded Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 target price for the company in a research report on Thursday, April 24th. Bank of America increased their price target on shares of Amphenol from $75.00 to $85.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Finally, Truist Financial boosted their price objective on shares of Amphenol from $90.00 to $102.00 and gave the stock a "buy" rating in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $81.62.

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.