SouthState Corp Purchases Shares of 554 Amphenol Corporation (NYSE:APH)

SouthState Corp purchased a new stake in Amphenol Corporation (NYSE:APH) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 554 shares of the electronics maker’s stock, valued at approximately $36,000.

A number of other hedge funds and other institutional investors have also modified their holdings of APH. Hughes Financial Services LLC acquired a new stake in shares of Amphenol in the 1st quarter valued at $25,000. Avalon Trust Co raised its holdings in shares of Amphenol by 133.3% in the 1st quarter. Avalon Trust Co now owns 406 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 232 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of Amphenol in the 1st quarter valued at $28,000. Global X Japan Co. Ltd. acquired a new stake in shares of Amphenol in the 1st quarter valued at $44,000. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Amphenol in the 4th quarter valued at $48,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APH. JPMorgan Chase & Co. raised their price objective on shares of Amphenol from $120.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 24th. Robert W. Baird lifted their price target on shares of Amphenol from $113.00 to $118.00 and gave the stock an “outperform” rating in a research note on Thursday, July 24th. Wall Street Zen lowered shares of Amphenol from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Industrial Alliance Securities set a $115.00 price target on shares of Amphenol in a research note on Friday, July 11th. Finally, Fox Advisors upgraded shares of Amphenol from an “equal weight” rating to an “overweight” rating and set a $85.00 price target on the stock in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $104.92.

Insider Activity

In other news, VP Michael R. Ivas sold 40,000 shares of Amphenol stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $88.79, for a total value of $3,551,600.00. Following the sale, the vice president owned 152,412 shares of the company’s stock, valued at $13,532,661.48. The trade was a 20.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David M. Silverman sold 100,000 shares of Amphenol stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the completion of the sale, the vice president directly owned 12,500 shares in the company, valued at approximately $1,113,625. The trade was a 88.89% decrease in their position. The disclosure for this sale can be found here. Insiders sold 812,000 shares of company stock worth $77,703,320 in the last ninety days. 1.67% of the stock is currently owned by insiders.

Amphenol Trading Down 1.9%

Shares of Amphenol stock opened at $109.75 on Thursday. Amphenol Corporation has a 1 year low of $56.45 and a 1 year high of $112.35. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.46 and a current ratio of 2.02. The company has a market capitalization of $134.00 billion, a P/E ratio of 43.73, a PEG ratio of 1.82 and a beta of 1.13. The company’s fifty day moving average is $100.21 and its two-hundred day moving average is $81.62.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.15. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The company had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.01 billion. During the same period last year, the firm posted $0.44 EPS. Amphenol’s revenue for the quarter was up 56.5% on a year-over-year basis. Analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current year.

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Tuesday, September 16th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Amphenol’s payout ratio is presently 26.29%.

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.