Amphenol Co. (NYSE:APH) CEO Richard Adam Norwitt Sells 750,000 Shares

Amphenol Co. (NYSE:APH) CEO Richard Adam Norwitt sold 750,000 shares of the company’s 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 directly owns 1,934,848 shares in the company, valued at $124,875,089.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Amphenol Price Performance

Shares of APH traded down $1.45 during trading hours on Tuesday, hitting $61.94. 8,006,424 shares of the company were exchanged, compared to its average volume of 6,509,657. The firm’s fifty day moving average is $67.20 and its 200 day moving average is $59.77. The company has a market cap of $74.40 billion, a price-to-earnings ratio of 38.77, a P/E/G ratio of 2.91 and a beta of 1.25. The company has a quick ratio of 1.32, a current ratio of 2.02 and a debt-to-equity ratio of 0.56. Amphenol Co. has a fifty-two week low of $39.34 and a fifty-two week high of $70.84.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.41 by $0.03. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. Amphenol had a net margin of 15.69% and a return on equity of 24.08%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. On average, equities analysts anticipate that Amphenol Co. will post 1.73 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 9th. Shareholders of record on Tuesday, September 17th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Tuesday, September 17th. Amphenol’s dividend payout ratio is presently 26.91%.

Amphenol declared that its board has initiated a stock buyback plan on Wednesday, April 24th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the electronics maker to buy up to 2.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

APH has been the subject of several research analyst reports. Citigroup lifted their target price on Amphenol from $67.50 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, May 28th. Truist Financial lifted their target price on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Bank of America increased their price target on shares of Amphenol from $72.00 to $75.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on Amphenol from $62.50 to $65.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Robert W. Baird lowered their target price on Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.35.

Hedge Funds Weigh In On Amphenol

Hedge funds have recently modified their holdings of the business. Beacon Capital Management LLC raised its position in shares of Amphenol by 121.2% during the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 206 shares during the last quarter. New England Capital Financial Advisors LLC lifted its position in shares of Amphenol by 100.0% in the 2nd quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 188 shares during the period. Frazier Financial Advisors LLC bought a new stake in shares of Amphenol in the 4th quarter valued at $29,000. Opal Wealth Advisors LLC bought a new position in Amphenol during the second quarter worth $29,000. Finally, New Millennium Group LLC acquired a new position in Amphenol in the second quarter valued at $31,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

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.