Man Group plc Sells 1,691,193 Shares of Amphenol Co. (NYSE:APH)

Man Group plc lessened its position in shares of Amphenol Co. (NYSE:APH) by 41.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,342,307 shares of the electronics maker’s stock after selling 1,691,193 shares during the period. Amphenol makes up about 0.4% of Man Group plc’s holdings, making the stock its 23rd biggest position. Man Group plc owned 0.19% of Amphenol worth $162,673,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APH. Tacita Capital Inc increased its holdings in Amphenol by 328.9% during the 4th quarter. Tacita Capital Inc now owns 386 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 296 shares during the period. Sierra Ocean LLC bought a new stake in Amphenol during the 4th quarter worth approximately $28,000. Rialto Wealth Management LLC bought a new stake in Amphenol during the 4th quarter worth approximately $28,000. Rakuten Securities Inc. increased its holdings in Amphenol by 703.8% during the 4th quarter. Rakuten Securities Inc. now owns 418 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 366 shares during the period. Finally, Hanson & Doremus Investment Management bought a new stake in Amphenol during the 4th quarter worth approximately $32,000. Institutional investors own 97.01% of the company’s stock.

Amphenol Price Performance

Shares of Amphenol stock opened at $85.75 on Wednesday. Amphenol Co. has a 52-week low of $54.77 and a 52-week high of $86.80. The stock has a market capitalization of $103.72 billion, a price-to-earnings ratio of 44.78, a price-to-earnings-growth ratio of 1.92 and a beta of 1.10. The company has a fifty day moving average of $68.97 and a 200-day moving average of $70.05. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.75 and a current ratio of 2.37.

Amphenol (NYSE:APH) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.11. The business had revenue of $4.81 billion during the quarter, compared to analysts’ expectations of $4.20 billion. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 EPS. Equities research analysts expect that Amphenol Co. will post 2.36 EPS for the current year.

Amphenol Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.66 annualized dividend and a yield of 0.77%. Amphenol’s payout ratio is currently 32.04%.

Insider Buying and Selling at Amphenol

In other Amphenol news, CEO Richard Adam Norwitt sold 2,000,000 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $75.73, for a total transaction of $151,460,000.00. Following the completion of the sale, the chief executive officer now owns 2,002,507 shares of the company’s stock, valued at $151,649,855.11. This represents a 49.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Craig A. Lampo sold 400,000 shares of the company’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $75.93, for a total transaction of $30,372,000.00. Following the completion of the transaction, the chief financial officer now owns 100,000 shares of the company’s stock, valued at $7,593,000. This trade represents a 80.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,178,500 shares of company stock valued at $241,903,805 in the last quarter. Company insiders own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on APH. TD Securities boosted their price target on shares of Amphenol from $63.00 to $70.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. US Capital Advisors set a $85.00 price target on shares of Amphenol in a research note on Thursday, April 24th. The Goldman Sachs Group boosted their price target on shares of Amphenol from $72.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, April 24th. Fox Advisors raised shares of Amphenol from an “equal weight” rating to an “overweight” rating and set a $85.00 price target for the company in a research note on Thursday, April 24th. Finally, Bank of America boosted their price target on shares of Amphenol from $75.00 to $85.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and a consensus target price of $81.62.

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.