Meridiem Investment Management Ltd. Trims Position in Amphenol Co. (NYSE:APH)

Meridiem Investment Management Ltd. reduced its holdings in Amphenol Co. (NYSE:APH) by 15.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 3,743,307 shares of the electronics maker’s stock after selling 703,332 shares during the quarter. Amphenol comprises approximately 4.3% of Meridiem Investment Management Ltd.’s investment portfolio, making the stock its 13th biggest holding. Meridiem Investment Management Ltd.’s holdings in Amphenol were worth $243,874,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Beacon Capital Management LLC boosted its position in Amphenol by 121.2% during the 2nd quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 206 shares during the period. New England Capital Financial Advisors LLC raised its holdings in Amphenol by 100.0% in the second quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 188 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Amphenol during the second quarter valued at approximately $29,000. Trifecta Capital Advisors LLC increased its holdings in shares of Amphenol by 352.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after acquiring an additional 338 shares during the last quarter. Finally, Sachetta LLC lifted its stake in Amphenol by 131.1% during the second quarter. Sachetta LLC now owns 439 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 249 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Amphenol

In other Amphenol news, VP Lance E. D’amico sold 90,000 shares of Amphenol stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the transaction, the vice president now directly owns 51,400 shares in the company, valued at approximately $3,323,010. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Richard Adam Norwitt sold 750,000 shares of the company’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.54, for a total value of $48,405,000.00. Following the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $124,875,089.92. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Lance E. D’amico sold 90,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the completion of the transaction, the vice president now owns 51,400 shares in the company, valued at $3,323,010. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,516,000 shares of company stock worth $98,236,640. 1.80% of the stock is owned by corporate insiders.

Amphenol Price Performance

Shares of NYSE APH traded down $0.08 during trading on Friday, hitting $67.46. The company had a trading volume of 10,159,224 shares, compared to its average volume of 6,568,655. The company has a market cap of $81.03 billion, a P/E ratio of 41.39, a PEG ratio of 2.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The business’s 50-day moving average is $64.76 and its 200 day moving average is $64.22. Amphenol Co. has a 52 week low of $39.34 and a 52 week high of $70.84.

Amphenol (NYSE:APH) last announced its earnings results 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 return on equity of 24.08% and a net margin of 15.69%. Amphenol’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 earnings per share. Equities research analysts predict that Amphenol Co. will post 1.76 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Stockholders of record on Tuesday, September 17th were issued a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.98%. Amphenol’s dividend payout ratio is currently 40.49%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on APH shares. Bank of America decreased their price target on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Robert W. Baird cut their price objective on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, July 25th. UBS Group boosted their price objective on Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Truist Financial raised their price target on Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Finally, Vertical Research began coverage on shares of Amphenol in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price for the company. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.50.

Amphenol 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.