Massachusetts Financial Services Co. MA Buys 9,487,387 Shares of Amphenol Co. (NYSE:APH)

Massachusetts Financial Services Co. MA raised its stake in shares of Amphenol Co. (NYSE:APH) by 69.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,225,629 shares of the electronics maker’s stock after purchasing an additional 9,487,387 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Amphenol were worth $1,564,711,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Texas Permanent School Fund Corp increased its holdings in Amphenol by 61.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock worth $13,458,000 after acquiring an additional 75,753 shares in the last quarter. United Services Automobile Association raised its position in shares of Amphenol by 102.0% during the 2nd quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock valued at $2,154,000 after purchasing an additional 16,149 shares during the period. Franklin Resources Inc. lifted its stake in shares of Amphenol by 0.5% during the 4th quarter. Franklin Resources Inc. now owns 4,015,628 shares of the electronics maker’s stock valued at $398,069,000 after buying an additional 20,521 shares in the last quarter. Choreo LLC boosted its holdings in Amphenol by 556.7% in the 2nd quarter. Choreo LLC now owns 40,472 shares of the electronics maker’s stock worth $2,732,000 after buying an additional 34,309 shares during the period. Finally, Angeles Wealth Management LLC increased its stake in Amphenol by 102.4% in the 2nd quarter. Angeles Wealth Management LLC now owns 3,826 shares of the electronics maker’s stock worth $258,000 after buying an additional 1,936 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on APH shares. Seaport Res Ptn upgraded Amphenol to a “strong-buy” rating in a research report on Monday, May 20th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Amphenol in a report on Thursday, June 13th. Evercore ISI reissued an “outperform” rating on shares of Amphenol in a report on Thursday, June 13th. Truist Financial lifted their price target on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, TD Cowen increased their price objective on shares of Amphenol from $45.00 to $57.50 and gave the company a “hold” rating in a report on Thursday, June 6th. Six 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.04.

Insider Activity

In related news, CEO Richard Adam Norwitt sold 750,000 shares of Amphenol stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $124,875,089.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Amphenol news, insider William J. Doherty sold 300,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $65.83, for a total transaction of $19,749,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.54, for a total transaction of $48,405,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,516,000 shares of company stock valued at $98,236,640. 1.80% of the stock is currently owned by company insiders.

Amphenol Stock Up 0.2 %

NYSE APH opened at $63.58 on Monday. Amphenol Co. has a 52 week low of $39.34 and a 52 week high of $70.84. The firm has a market capitalization of $76.57 billion, a price-to-earnings ratio of 38.89, a PEG ratio of 2.45 and a beta of 1.24. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. The company has a fifty day moving average of $64.61 and a two-hundred day moving average of $62.76.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. During the same period in the prior year, the company posted $0.72 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, analysts predict that Amphenol Co. will post 1.76 earnings per share for the current year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.04%. Amphenol’s dividend payout ratio (DPR) is 26.91%.

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.