Meeder Advisory Services Inc. Buys 23,593 Shares of Amphenol Co. (NYSE:APH)

Meeder Advisory Services Inc. grew its stake in Amphenol Co. (NYSE:APH) by 185.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,289 shares of the electronics maker’s stock after buying an additional 23,593 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Amphenol were worth $2,445,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in APH. Frazier Financial Advisors LLC bought a new stake in Amphenol during the 4th quarter worth approximately $29,000. Beacon Capital Management LLC raised its position in shares of Amphenol by 121.2% during the 2nd quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 206 shares during the period. New England Capital Financial Advisors LLC lifted its stake in shares of Amphenol by 100.0% during the 2nd 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 in the last quarter. Opal Wealth Advisors LLC bought a new position in Amphenol in the 2nd quarter worth $29,000. Finally, Sachetta LLC increased its stake in Amphenol by 131.1% in the 2nd quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after buying an additional 249 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Robert W. Baird dropped their price objective on Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, July 25th. Vertical Research assumed coverage on Amphenol in a research note on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target for the company. Citigroup increased their price objective on shares of Amphenol from $67.50 to $80.00 and gave the company a “buy” rating in a report on Tuesday, May 28th. TD Cowen boosted their target price on shares of Amphenol from $45.00 to $57.50 and gave the stock a “hold” rating in a report on Thursday, June 6th. Finally, Truist Financial raised their target price on shares of Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Amphenol has an average rating of “Moderate Buy” and an average price target of $65.04.

Insider Activity at Amphenol

In other Amphenol news, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction on 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 legal filing with the SEC, which is available at the SEC website. In other news, CEO Richard Adam Norwitt sold 750,000 shares of the business’s stock in a transaction on 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 directly owns 1,934,848 shares of the company’s stock, valued at $124,875,089.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Doherty sold 300,000 shares of Amphenol 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,516,000 shares of company stock worth $98,236,640. Company insiders own 1.80% of the company’s stock.

Amphenol Stock Performance

Shares of NYSE:APH opened at $63.45 on Friday. The firm has a fifty day simple moving average of $64.70 and a two-hundred day simple moving average of $62.57. Amphenol Co. has a 52 week low of $39.34 and a 52 week high of $70.84. 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 stock has a market capitalization of $76.22 billion, a P/E ratio of 38.93, a PEG ratio of 2.36 and a beta of 1.24.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating 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 firm had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same quarter last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts expect that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The business 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. This represents a $0.66 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio is currently 40.49%.

About Amphenol

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.