Principal Financial Group Inc. Has $168.85 Million Position in Amphenol Co. (NYSE:APH)

Principal Financial Group Inc. raised its position in Amphenol Co. (NYSE:APH) by 73.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,591,323 shares of the electronics maker’s stock after buying an additional 1,101,368 shares during the quarter. Principal Financial Group Inc.’s holdings in Amphenol were worth $168,851,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in Amphenol by 113.5% in the 2nd quarter. Raymond James & Associates now owns 345,550 shares of the electronics maker’s stock worth $23,280,000 after purchasing an additional 183,688 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Amphenol by 66.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 246,069 shares of the electronics maker’s stock valued at $16,578,000 after buying an additional 97,956 shares during the period. Atria Wealth Solutions Inc. grew its position in Amphenol by 173.5% during the second quarter. Atria Wealth Solutions Inc. now owns 17,135 shares of the electronics maker’s stock worth $1,155,000 after buying an additional 10,871 shares in the last quarter. &PARTNERS bought a new position in Amphenol during the 2nd quarter worth $991,000. Finally, Cornerstone Wealth Group LLC acquired a new position in Amphenol in the 2nd quarter valued at $229,000. Institutional investors own 97.01% of the company’s stock.

Insider Activity at Amphenol

In other Amphenol news, VP David M. Silverman sold 180,000 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $68.84, for a total transaction of $12,391,200.00. Following the sale, the vice president now owns 14,000 shares of the company’s stock, valued at approximately $963,760. This represents a 92.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard Adam Norwitt sold 900,672 shares of Amphenol stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. This trade represents a 31.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,842,672 shares of company stock worth $128,858,080 over the last three months. Company insiders own 1.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Bank of America raised their price target on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Evercore ISI raised their target price on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Robert W. Baird upped their price target on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. TD Cowen lifted their price objective on shares of Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research note on Friday, October 25th. Finally, Truist Financial raised 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $69.63.

Amphenol Price Performance

Shares of APH opened at $70.01 on Friday. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53. The stock has a market cap of $84.40 billion, a PE ratio of 40.24, a PEG ratio of 2.44 and a beta of 1.24. Amphenol Co. has a 12-month low of $46.94 and a 12-month high of $75.78. The business has a 50-day simple moving average of $71.03 and a two-hundred day simple moving average of $67.32.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.81 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The firm’s revenue was up 26.3% compared to the same quarter last year. Analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

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

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.