Fiduciary Trust Co Reduces Stock Position in Amphenol Co. (NYSE:APH)

Fiduciary Trust Co trimmed its position in Amphenol Co. (NYSE:APH) by 2.3% during the third quarter, Holdings Channel.com reports. The firm owned 329,071 shares of the electronics maker’s stock after selling 7,754 shares during the period. Fiduciary Trust Co’s holdings in Amphenol were worth $21,442,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of APH. Texas Permanent School Fund Corp raised its holdings in Amphenol by 61.1% in the 2nd quarter. Texas Permanent School Fund Corp now owns 199,758 shares of the electronics maker’s stock valued at $13,458,000 after acquiring an additional 75,753 shares during the last quarter. United Services Automobile Association lifted its position in Amphenol by 102.0% during the second quarter. United Services Automobile Association now owns 31,980 shares of the electronics maker’s stock worth $2,154,000 after buying an additional 16,149 shares during the period. Daiwa Securities Group Inc. boosted its stake in Amphenol by 50.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 268,219 shares of the electronics maker’s stock worth $17,477,000 after buying an additional 90,450 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Amphenol by 22.3% in the 3rd quarter. Advisors Asset Management Inc. now owns 106,899 shares of the electronics maker’s stock valued at $6,966,000 after buying an additional 19,496 shares during the period. Finally, LMR Partners LLP increased its stake in shares of Amphenol by 315.1% during the 3rd quarter. LMR Partners LLP now owns 294,800 shares of the electronics maker’s stock valued at $19,209,000 after acquiring an additional 223,784 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

APH has been the subject of a number of recent analyst reports. Evercore ISI boosted 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. Truist Financial upped their price objective on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Robert W. Baird lifted their target price on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. TD Cowen boosted their price target on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Bank of America raised their price objective on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and a consensus price target of $69.63.

Amphenol Price Performance

Shares of APH stock opened at $72.73 on Thursday. The firm has a fifty day simple moving average of $68.23 and a 200-day simple moving average of $66.58. The company has a market capitalization of $87.68 billion, a PE ratio of 41.80, a price-to-earnings-growth ratio of 2.44 and a beta of 1.23. Amphenol Co. has a twelve month low of $44.90 and a twelve month high of $74.93. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.05. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $3.81 billion. During the same period in the prior year, the company posted $0.39 EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. Equities research analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.66 annualized dividend and a yield of 0.91%. Amphenol’s dividend payout ratio is presently 37.93%.

Insiders Place Their Bets

In other news, CEO Richard Adam Norwitt sold 900,672 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total value of $61,975,240.32. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. The trade was a 31.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the transaction, the chief financial officer now directly owns 218,116 shares in the company, valued at $14,997,656.16. The trade was a 40.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,842,672 shares of company stock worth $128,858,080 in the last three months. 1.80% of the stock is owned by insiders.

Amphenol Company 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.