Industrial Alliance Investment Management Inc. Boosts Holdings in Amphenol Co. (NYSE:APH)

Posted by Defense World Staff on Mar 16th, 2023

Industrial Alliance Investment Management Inc. lifted its stake in shares of Amphenol Co. (NYSE:APH – Get Rating) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 100,373 shares of the electronics maker’s stock after acquiring an additional 2,593 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Amphenol were worth $6,721,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of APH. Brown Brothers Harriman & Co. grew its stake in shares of Amphenol by 497.2% during the 1st quarter. Brown Brothers Harriman & Co. now owns 633 shares of the electronics maker’s stock valued at $48,000 after buying an additional 527 shares during the period. Valley National Advisers Inc. increased its stake in Amphenol by 33.1% during the third quarter. Valley National Advisers Inc. now owns 716 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 178 shares during the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Amphenol by 3,875.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 795 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 775 shares during the period. Lumbard & Kellner LLC acquired a new position in shares of Amphenol in the 3rd quarter valued at about $67,000. Finally, Zions Bancorporation N.A. grew its holdings in shares of Amphenol by 16.9% during the 1st quarter. Zions Bancorporation N.A. now owns 1,136 shares of the electronics maker’s stock worth $86,000 after purchasing an additional 164 shares during the period. 94.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jean-Luc Gavelle sold 129,800 shares of the firm’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $81.64, for a total transaction of $10,596,872.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Amphenol news, insider Jean-Luc Gavelle sold 129,800 shares of the stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $81.64, for a total transaction of $10,596,872.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Richard Adam Norwitt sold 650,000 shares of Amphenol stock in a transaction dated Friday, February 3rd. The shares were sold at an average price of $81.72, for a total transaction of $53,118,000.00. Following the completion of the transaction, the chief executive officer now directly owns 967,424 shares of the company’s stock, valued at $79,057,889.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 804,800 shares of company stock worth $65,769,622. 2.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird reduced their price target on shares of Amphenol from $93.00 to $91.00 in a research report on Thursday, January 26th. StockNews.com cut shares of Amphenol from a “buy” rating to a “hold” rating in a research report on Saturday, March 11th. Credit Suisse Group initiated coverage on Amphenol in a research report on Monday, December 12th. They issued an “outperform” rating and a $93.00 price objective on the stock. Truist Financial upped their target price on Amphenol from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 23rd. Finally, Jefferies Financial Group lowered Amphenol from a “buy” rating to a “hold” rating and boosted their price target for the stock from $87.00 to $88.00 in a research report on Tuesday, November 22nd. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Amphenol currently has a consensus rating of “Moderate Buy” and a consensus target price of $86.36.

Amphenol Stock Down 2.0 %

APH stock opened at $76.04 on Thursday. The company has a current ratio of 2.42, a quick ratio of 1.64 and a debt-to-equity ratio of 0.65. The firm has a 50 day simple moving average of $79.20 and a 200-day simple moving average of $76.36. The company has a market capitalization of $45.21 billion, a P/E ratio of 24.85, a PEG ratio of 2.90 and a beta of 1.24. Amphenol Co. has a twelve month low of $61.67 and a twelve month high of $82.86.

Amphenol (NYSE:APH – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.03. The company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.15 billion. Amphenol had a net margin of 15.07% and a return on equity of 27.93%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.70 EPS. On average, equities research analysts predict that Amphenol Co. will post 2.96 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Stockholders of record on Tuesday, March 21st will be given a $0.21 dividend. The ex-dividend date is Monday, March 20th. This represents a $0.84 annualized dividend and a dividend yield of 1.10%. Amphenol’s payout ratio is 27.45%.

Amphenol Profile

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Amphenol Corp. engages in the design, manufacture, and marketing of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and specialty cable. Its products include connectors, cable assemblies, sensors, antenna solutions, power distribution, cable, printed circuits, and accessories for connectors and cable.