Quest Partners LLC Sells 21,381 Shares of Amphenol Co. (NYSE:APH)

Quest Partners LLC lessened its stake in Amphenol Co. (NYSE:APH) by 51.8% in the third quarter, HoldingsChannel reports. The firm owned 19,930 shares of the electronics maker’s stock after selling 21,381 shares during the period. Quest Partners LLC’s holdings in Amphenol were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in APH. B. Riley Wealth Advisors Inc. increased its position in Amphenol by 0.3% during the first quarter. B. Riley Wealth Advisors Inc. now owns 31,286 shares of the electronics maker’s stock valued at $3,609,000 after acquiring an additional 80 shares during the last quarter. Industrial Alliance Investment Management Inc. lifted its stake in shares of Amphenol by 2.9% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 5,330 shares of the electronics maker’s stock worth $615,000 after purchasing an additional 150 shares during the period. Fortitude Family Office LLC grew its position in Amphenol by 13.9% during the third quarter. Fortitude Family Office LLC now owns 1,296 shares of the electronics maker’s stock valued at $84,000 after buying an additional 158 shares during the period. New England Capital Financial Advisors LLC increased its holdings in Amphenol by 100.0% during the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after buying an additional 188 shares during the last quarter. Finally, Prime Capital Investment Advisors LLC raised its position in Amphenol by 4.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,505 shares of the electronics maker’s stock worth $294,000 after acquiring an additional 199 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Bank of America boosted their price target on Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Vertical Research assumed coverage on Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price objective on the stock. Truist Financial boosted their price objective on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Evercore ISI raised their target price on shares of Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amphenol has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Insiders Place Their Bets

In other news, insider Peter Straub sold 132,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $74.12, for a total transaction of $9,783,840.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Richard Adam Norwitt sold 900,672 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. The trade was a 31.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,842,672 shares of company stock valued at $128,858,080 in the last quarter. 1.80% of the stock is currently owned by insiders.

Amphenol Price Performance

APH stock opened at $70.99 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99. The company’s fifty day moving average price is $67.06 and its 200-day moving average price is $66.19. Amphenol Co. has a one year low of $44.51 and a one year high of $74.70. The company has a market capitalization of $85.59 billion, a PE ratio of 40.80, a price-to-earnings-growth ratio of 2.34 and a beta of 1.23.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $3.81 billion. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The business’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, equities analysts anticipate that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Tuesday, December 17th. Amphenol’s dividend payout ratio is presently 37.93%.

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.