Fmr LLC Sells 388,490 Shares of Amphenol Co. (NYSE:APH)

Fmr LLC decreased its position in Amphenol Co. (NYSE:APH) by 0.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,606,823 shares of the electronics maker’s stock after selling 388,490 shares during the quarter. Amphenol makes up 0.4% of Fmr LLC’s portfolio, making the stock its 29th biggest position. Fmr LLC owned approximately 8.43% of Amphenol worth $6,620,701,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its stake in Amphenol by 157.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,932,159 shares of the electronics maker’s stock worth $125,899,000 after acquiring an additional 1,180,944 shares in the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Amphenol by 50.0% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 498 shares of the electronics maker’s stock worth $32,000 after buying an additional 166 shares during the last quarter. Independent Advisor Alliance increased its position in Amphenol by 106.0% during the 3rd quarter. Independent Advisor Alliance now owns 8,224 shares of the electronics maker’s stock valued at $536,000 after buying an additional 4,232 shares in the last quarter. Harvest Fund Management Co. Ltd raised its stake in Amphenol by 61.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 151,302 shares of the electronics maker’s stock valued at $9,856,000 after buying an additional 57,603 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Amphenol by 50.9% in the third quarter. Daiwa Securities Group Inc. now owns 268,219 shares of the electronics maker’s stock worth $17,477,000 after acquiring an additional 90,450 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on APH shares. Bank of America lifted their price target on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Evercore ISI raised their price target on shares of Amphenol from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Truist Financial upped their price objective on Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. TD Cowen lifted their target price on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a report on Friday, October 25th. Finally, Robert W. Baird upped their price target on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Amphenol currently has an average rating of “Moderate Buy” and an average price target of $69.63.

Insider Activity

In other Amphenol news, VP David M. Silverman sold 180,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $68.84, for a total transaction of $12,391,200.00. Following the sale, the vice president now directly owns 14,000 shares in the company, valued at $963,760. This represents a 92.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Peter Straub sold 132,000 shares of Amphenol stock in a transaction that occurred 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 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. Company insiders own 1.80% of the company’s stock.

Amphenol Trading Down 1.3 %

NYSE:APH opened at $73.32 on Tuesday. The firm has a market capitalization of $88.40 billion, a price-to-earnings ratio of 42.14, a price-to-earnings-growth ratio of 2.47 and a beta of 1.23. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.99 and a quick ratio of 1.33. The business has a fifty day moving average price of $67.85 and a 200-day moving average price of $66.47. Amphenol Co. has a one year low of $44.81 and a one year high of $74.93.

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

Amphenol Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th will be given 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 dividend yield of 0.90%. Amphenol’s payout ratio is 37.93%.

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.