KLP Kapitalforvaltning AS Takes Position in Amphenol Co. (NYSE:APH)

KLP Kapitalforvaltning AS purchased a new position in shares of Amphenol Co. (NYSE:APH - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 406,224 shares of the electronics maker's stock, valued at approximately $28,269,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of APH. Blue Trust Inc. lifted its holdings in Amphenol by 208.8% in the fourth quarter. Blue Trust Inc. now owns 27,095 shares of the electronics maker's stock valued at $1,765,000 after buying an additional 18,322 shares during the period. Spire Wealth Management raised its position in shares of Amphenol by 34.1% in the 4th quarter. Spire Wealth Management now owns 98,432 shares of the electronics maker's stock worth $6,836,000 after acquiring an additional 25,007 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of Amphenol by 50.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 268,219 shares of the electronics maker's stock valued at $17,477,000 after purchasing an additional 90,450 shares during the period. Consolidated Planning Corp boosted its position in shares of Amphenol by 37.0% during the 4th quarter. Consolidated Planning Corp now owns 17,160 shares of the electronics maker's stock valued at $1,192,000 after purchasing an additional 4,631 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Amphenol by 11.8% during the third quarter. Glenmede Trust Co. NA now owns 1,682,734 shares of the electronics maker's stock worth $109,647,000 after purchasing an additional 177,510 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

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Amphenol Stock Performance

Amphenol stock traded up $0.69 during mid-day trading on Thursday, reaching $68.27. 8,033,368 shares of the company's stock were exchanged, compared to its average volume of 6,936,906. The firm has a market capitalization of $82.73 billion, a PE ratio of 35.65, a P/E/G ratio of 1.92 and a beta of 1.25. The company has a quick ratio of 1.75, a current ratio of 2.37 and a debt-to-equity ratio of 0.66. The business's fifty day simple moving average is $67.95 and its 200 day simple moving average is $68.69. Amphenol Co. has a one year low of $54.72 and a one year high of $79.39.

Amphenol (NYSE:APH - Get Free Report) last issued its quarterly 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 company had revenue of $4.32 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm earned $0.82 EPS. The firm's quarterly revenue was up 29.8% on a year-over-year basis. On average, sell-side analysts expect that Amphenol Co. will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 9th. Shareholders of record on Tuesday, March 18th will be given 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 yield of 0.97%. Amphenol's dividend payout ratio is presently 34.55%.

Analyst Upgrades and Downgrades

APH has been the topic of a number of research analyst reports. Bank of America increased their price target on Amphenol from $75.00 to $85.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their price target on shares of Amphenol from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Thursday, January 23rd. Robert W. Baird upped their price objective on shares of Amphenol from $85.00 to $89.00 and gave the company an "outperform" rating in a report on Thursday, January 23rd. Truist Financial raised their target price on Amphenol from $90.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group upped their price target on Amphenol from $79.00 to $89.00 and gave the stock a "buy" rating in a research note on Thursday, January 23rd. Five research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average 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.