CIBC Asset Management Inc Acquires 12,166 Shares of Amphenol Co. (NYSE:APH)

CIBC Asset Management Inc lifted its holdings in shares of Amphenol Co. (NYSE:APH) by 6.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,911 shares of the electronics maker’s stock after purchasing an additional 12,166 shares during the period. CIBC Asset Management Inc’s holdings in Amphenol were worth $13,352,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after acquiring an additional 17,552,921 shares during the period. Massachusetts Financial Services Co. MA raised its stake in Amphenol by 69.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock valued at $1,564,711,000 after acquiring an additional 9,487,387 shares during the period. Mawer Investment Management Ltd. raised its stake in Amphenol by 88.9% in the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after acquiring an additional 7,275,279 shares during the period. Legal & General Group Plc raised its stake in Amphenol by 116.6% in the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after acquiring an additional 5,293,292 shares during the period. Finally, National Bank of Canada FI raised its stake in Amphenol by 263.0% in the 2nd quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock valued at $240,935,000 after acquiring an additional 2,585,282 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APH has been the subject of a number of recent analyst reports. Vertical Research initiated coverage on Amphenol in a report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 target price for the company. Bank of America lifted their target price on Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Evercore ISI lifted their target price on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their target price on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a report on Friday, October 25th. Finally, Truist Financial lifted their target price on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Amphenol presently has an average rating of “Moderate Buy” and an average target price of $69.63.

Amphenol Trading Down 2.8 %

Shares of NYSE:APH opened at $70.52 on Friday. The stock has a market capitalization of $85.02 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 2.40 and a beta of 1.23. 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 stock’s 50-day simple moving average is $66.68 and its two-hundred day simple moving average is $66.01. Amphenol Co. has a 52-week low of $44.44 and a 52-week high of $74.70.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter last year, the company earned $0.39 earnings per share. The business’s revenue for the quarter was up 26.3% compared to the same quarter last year. Analysts expect that Amphenol Co. will post 1.84 EPS for the current year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.94%. The ex-dividend date is Tuesday, December 17th. Amphenol’s dividend payout ratio (DPR) is presently 37.93%.

Insider Activity at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 900,672 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The stock was 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 owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David M. Silverman sold 180,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total value of $12,391,200.00. Following the transaction, the vice president now owns 14,000 shares of the company’s stock, valued at $963,760. This represents a 92.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,842,672 shares of company stock valued at $128,858,080. 1.80% of the stock is owned by company insiders.

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.