Allstate Corp Makes New Investment in Amphenol Co. (NYSE:APH)

Allstate Corp bought a new position in Amphenol Co. (NYSE:APH) in the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 35,517 shares of the electronics maker’s stock, valued at approximately $2,467,000.

Other institutional investors have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Amphenol by 29,759.2% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 149,893 shares of the electronics maker’s stock valued at $9,767,000 after purchasing an additional 149,391 shares during the last quarter. CreativeOne Wealth LLC raised its position in shares of Amphenol by 37.6% during the 3rd quarter. CreativeOne Wealth LLC now owns 5,955 shares of the electronics maker’s stock valued at $388,000 after buying an additional 1,627 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Amphenol by 32.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 289,366 shares of the electronics maker’s stock valued at $18,855,000 after acquiring an additional 70,635 shares during the last quarter. Public Sector Pension Investment Board grew its position in Amphenol by 15.0% in the third quarter. Public Sector Pension Investment Board now owns 52,842 shares of the electronics maker’s stock worth $3,443,000 after acquiring an additional 6,900 shares during the period. Finally, Rockefeller Capital Management L.P. increased its stake in Amphenol by 1.9% during the third quarter. Rockefeller Capital Management L.P. now owns 212,612 shares of the electronics maker’s stock worth $13,917,000 after acquiring an additional 3,934 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Trading Down 2.4 %

APH opened at $66.56 on Friday. The business has a fifty day moving average price of $67.86 and a 200 day moving average price of $68.78. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.37 and a quick ratio of 1.75. Amphenol Co. has a 12 month low of $54.72 and a 12 month high of $79.39. The stock has a market capitalization of $80.66 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 1.92 and a beta of 1.25.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, January 22nd. The electronics maker reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.05. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The firm had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. Sell-side analysts expect that Amphenol Co. will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Investors of record on Tuesday, March 18th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, March 18th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.99%. Amphenol’s payout ratio is currently 34.55%.

Analysts Set New Price Targets

APH has been the subject of a number of research analyst reports. Truist Financial increased their price target on Amphenol from $90.00 to $102.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on shares of Amphenol from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Citigroup upped their price objective on shares of Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, January 17th. The Goldman Sachs Group lifted their target price on shares of Amphenol from $79.00 to $89.00 and gave the company a “buy” rating in a report on Thursday, January 23rd. Finally, Robert W. Baird raised their price target on Amphenol from $85.00 to $89.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. 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 stock. According to data from MarketBeat.com, Amphenol currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.68.

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.