UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Holdings in Amphenol Co. (NYSE:APH)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in Amphenol Co. (NYSE:APH) by 9.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,165,368 shares of the electronics maker’s stock after selling 706,604 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Amphenol were worth $466,895,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock worth $2,468,301,000 after purchasing an additional 17,552,921 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Amphenol by 69.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock worth $1,564,711,000 after purchasing an additional 9,487,387 shares during the period. Mawer Investment Management Ltd. boosted its stake in Amphenol by 88.9% in the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock worth $1,041,204,000 after purchasing an additional 7,275,279 shares during the period. Legal & General Group Plc boosted its stake in Amphenol by 116.6% in the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock worth $662,458,000 after purchasing an additional 5,293,292 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Amphenol by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,558,670 shares of the electronics maker’s stock worth $427,363,000 after purchasing an additional 63,180 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Amphenol news, insider Peter Straub sold 132,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $74.12, for a total value of $9,783,840.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP David M. Silverman sold 180,000 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $68.84, for a total value of $12,391,200.00. Following the completion of the sale, the vice president now owns 14,000 shares in the company, valued at approximately $963,760. The trade was a 92.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,842,672 shares of company stock worth $128,858,080 over the last quarter. Company insiders own 1.80% of the company’s stock.

Amphenol Stock Performance

NYSE:APH opened at $72.74 on Friday. The stock’s fifty day moving average is $68.37 and its 200 day moving average is $66.62. Amphenol Co. has a fifty-two week low of $44.90 and a fifty-two week high of $74.93. The firm has a market capitalization of $87.70 billion, a PE ratio of 41.80, a PEG ratio of 2.44 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share 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 for the quarter, compared to analyst estimates of $3.81 billion. During the same quarter in the prior year, the firm posted $0.39 EPS. Amphenol’s quarterly revenue was up 26.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders 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 dividend on an annualized basis and a yield of 0.91%. Amphenol’s payout ratio is 37.93%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on APH. Bank of America upped their price target on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Robert W. Baird increased their target price on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI increased their target price on Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. TD Cowen increased their target price on Amphenol from $60.00 to $63.00 and gave the company a “hold” rating in a research report on Friday, October 25th. Finally, Truist Financial increased their target price on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. 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 stock. According to MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and a consensus target price of $69.63.

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.