Wesbanco Bank Inc. Decreases Stake in Amphenol Co. (NYSE:APH)

Wesbanco Bank Inc. lessened its stake in shares of Amphenol Co. (NYSE:APH) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,500 shares of the electronics maker’s stock after selling 560 shares during the period. Wesbanco Bank Inc.’s holdings in Amphenol were worth $2,834,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its holdings in shares of Amphenol by 92.0% during the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after buying an additional 17,552,921 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in Amphenol by 69.1% during 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 acquiring an additional 9,487,387 shares during the period. Mawer Investment Management Ltd. grew its stake in Amphenol by 88.9% during the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker’s stock valued at $1,041,204,000 after purchasing an additional 7,275,279 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Amphenol by 116.6% in the second quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after purchasing an additional 5,293,292 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Amphenol by 263.0% in the second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker’s stock worth $240,935,000 after purchasing an additional 2,585,282 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Robert W. Baird reduced their target price on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, July 25th. Bank of America lowered their price target on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Vertical Research assumed coverage on Amphenol in a research report on Tuesday, July 23rd. They set a “hold” rating and a $65.00 price target on the stock. Finally, Truist Financial boosted their price objective on Amphenol from $74.50 to $76.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Five investment 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.50.

Amphenol Stock Performance

Shares of APH stock opened at $65.70 on Wednesday. The company has a current ratio of 2.02, a quick ratio of 1.32 and a debt-to-equity ratio of 0.56. Amphenol Co. has a 12-month low of $39.34 and a 12-month high of $70.84. The business’s 50 day moving average is $64.42 and its two-hundred day moving average is $64.10. The company has a market capitalization of $78.92 billion, a P/E ratio of 40.31, a P/E/G ratio of 2.56 and a beta of 1.24.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, July 24th. The electronics maker reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.03. The firm had revenue of $3.61 billion for the quarter, compared to analyst estimates of $3.39 billion. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The business’s revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.72 EPS. Analysts expect that Amphenol Co. will post 1.76 EPS for the current fiscal year.

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th were given a dividend of $0.165 per share. The ex-dividend date of this dividend was Tuesday, September 17th. This represents a $0.66 annualized dividend and a dividend yield of 1.00%. Amphenol’s dividend payout ratio (DPR) is presently 40.49%.

Insider Activity at Amphenol

In other Amphenol news, insider Luc Walter sold 106,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.19, for a total transaction of $6,804,140.00. Following the completion of the sale, the insider now directly owns 447,790 shares in the company, valued at approximately $28,743,640.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Lance E. D’amico sold 90,000 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $64.65, for a total transaction of $5,818,500.00. Following the completion of the sale, the vice president now owns 51,400 shares of the company’s stock, valued at approximately $3,323,010. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Luc Walter sold 106,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.19, for a total value of $6,804,140.00. Following the transaction, the insider now owns 447,790 shares in the company, valued at approximately $28,743,640.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,516,000 shares of company stock valued at $98,236,640. 1.80% of the stock is owned by corporate insiders.

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.