Corebridge Financial Inc. Sells 11,987 Shares of Amphenol Co. (NYSE:APH)

Corebridge Financial Inc. cut its stake in shares of Amphenol Co. (NYSE:APH) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 346,613 shares of the electronics maker’s stock after selling 11,987 shares during the quarter. Corebridge Financial Inc.’s holdings in Amphenol were worth $24,072,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Princeton Global Asset Management LLC grew its position in shares of Amphenol by 0.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 23,532 shares of the electronics maker’s stock worth $1,634,000 after buying an additional 136 shares during the period. WASHINGTON TRUST Co boosted its stake in Amphenol by 23.0% during the fourth quarter. WASHINGTON TRUST Co now owns 787 shares of the electronics maker’s stock worth $55,000 after acquiring an additional 147 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in Amphenol by 50.0% in the third quarter. Brown Brothers Harriman & Co. now owns 498 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 166 shares during the period. Fragasso Financial Advisors Inc increased its stake in Amphenol by 4.7% in the fourth quarter. Fragasso Financial Advisors Inc now owns 3,824 shares of the electronics maker’s stock valued at $266,000 after purchasing an additional 171 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its holdings in shares of Amphenol by 3.3% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 5,483 shares of the electronics maker’s stock valued at $381,000 after purchasing an additional 173 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Amphenol Price Performance

Shares of NYSE:APH opened at $66.78 on Monday. The company has a market capitalization of $80.92 billion, a P/E ratio of 34.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.25. The company’s 50-day moving average is $68.01 and its 200 day moving average is $68.57. 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 Co. has a fifty-two week low of $54.72 and a fifty-two week high of $79.39.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, January 22nd. The electronics maker reported $0.55 EPS for the quarter, topping the consensus estimate of $0.50 by $0.05. Amphenol had a net margin of 15.92% and a return on equity of 25.67%. The business had revenue of $4.32 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, equities research analysts forecast that Amphenol Co. will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The company 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 $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date is Tuesday, March 18th. Amphenol’s dividend payout ratio is currently 34.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on APH shares. The Goldman Sachs Group raised their price objective on Amphenol from $79.00 to $89.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. JPMorgan Chase & Co. upped their target price 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 boosted their price objective on Amphenol from $85.00 to $89.00 and gave the stock 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 report on Thursday, January 23rd. Finally, Bank of America increased their price target on Amphenol from $75.00 to $85.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Five equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $80.68.

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.