Nippon Life Global Investors Americas Inc. Sells 13,010 Shares of Amphenol Co. (NYSE:APH)

Nippon Life Global Investors Americas Inc. lessened its stake in shares of Amphenol Co. (NYSE:APH - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 120,570 shares of the electronics maker's stock after selling 13,010 shares during the quarter. Nippon Life Global Investors Americas Inc.'s holdings in Amphenol were worth $8,391,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of APH. Blue Trust Inc. boosted its holdings in shares of Amphenol by 208.8% during the fourth quarter. Blue Trust Inc. now owns 27,095 shares of the electronics maker's stock worth $1,765,000 after acquiring an additional 18,322 shares during the period. Spire Wealth Management boosted its stake in Amphenol by 34.1% in the 4th quarter. Spire Wealth Management now owns 98,432 shares of the electronics maker's stock valued at $6,836,000 after purchasing an additional 25,007 shares during the period. Consolidated Planning Corp grew its holdings in Amphenol by 37.0% in the 4th quarter. Consolidated Planning Corp now owns 17,160 shares of the electronics maker's stock valued at $1,192,000 after buying an additional 4,631 shares in the last quarter. Pines Wealth Management LLC acquired a new position in Amphenol in the 4th quarter valued at $553,000. Finally, Kanawha Capital Management LLC increased its position in Amphenol by 4.5% during the 4th quarter. Kanawha Capital Management LLC now owns 151,867 shares of the electronics maker's stock worth $10,547,000 after buying an additional 6,481 shares during the period. Institutional investors own 97.01% of the company's stock.

Amphenol Price Performance

Shares of Amphenol stock traded down $0.22 during midday trading on Friday, hitting $75.81. 14,324,583 shares of the company traded hands, compared to its average volume of 7,470,790. The firm's fifty day moving average price is $65.39 and its 200-day moving average price is $68.87. The stock has a market cap of $91.87 billion, a price-to-earnings ratio of 39.59, a PEG ratio of 1.92 and a beta of 1.17. Amphenol Co. has a 12 month low of $54.77 and a 12 month high of $79.39. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.75 and a current ratio of 2.37.

Amphenol (NYSE:APH - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.11. The company had revenue of $4.81 billion during the quarter, compared to the consensus estimate of $4.20 billion. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. During the same period in the prior year, the business earned $0.40 earnings per share. As a group, sell-side analysts forecast that Amphenol Co. will post 2.36 earnings per share for the current year.

Amphenol Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 9th. Stockholders of record on Tuesday, March 18th were paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Tuesday, March 18th. Amphenol's dividend payout ratio is currently 34.55%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. US Capital Advisors set a $85.00 price target on shares of Amphenol in a research note on Thursday. JPMorgan Chase & Co. raised their target price on shares of Amphenol from $85.00 to $91.00 and gave the stock an "overweight" rating in a report on Thursday. Fox Advisors upgraded Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price target for the company in a research note on Thursday. Bank of America increased their price target on Amphenol from $75.00 to $85.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Finally, Truist Financial lifted their price objective on Amphenol from $90.00 to $102.00 and gave the company a "buy" rating in a report on Thursday, January 23rd. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Amphenol has a consensus rating of "Moderate Buy" and an average target price of $82.58.

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.