Mechanics Bank Trust Department Sells 160 Shares of Amphenol Co. (NYSE:APH)

Mechanics Bank Trust Department cut its stake in Amphenol Co. (NYSE:APH) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,170 shares of the electronics maker’s stock after selling 160 shares during the quarter. Mechanics Bank Trust Department’s holdings in Amphenol were worth $1,679,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Trifecta Capital Advisors LLC grew its position in shares of Amphenol by 352.1% in the 3rd quarter. Trifecta Capital Advisors LLC now owns 434 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 338 shares during the period. Core Alternative Capital grew its position in shares of Amphenol by 100.0% in the 2nd quarter. Core Alternative Capital now owns 462 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 231 shares during the period. Brown Brothers Harriman & Co. grew its position 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 valued at $32,000 after purchasing an additional 166 shares during the period. Continuum Advisory LLC boosted its position in Amphenol by 89.3% during the 3rd quarter. Continuum Advisory LLC now owns 496 shares of the electronics maker’s stock worth $32,000 after acquiring an additional 234 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its position in Amphenol by 100.3% during the 2nd quarter. Sunbelt Securities Inc. now owns 647 shares of the electronics maker’s stock worth $44,000 after acquiring an additional 324 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APH. Truist Financial upped their price objective on Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Bank of America increased their price target on Amphenol from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Citigroup increased their price objective on Amphenol from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen increased their price objective on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Finally, Robert W. Baird increased their price objective on Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and an average target price of $69.79.

Amphenol Stock Performance

NYSE:APH opened at $69.44 on Monday. The stock’s 50-day simple moving average is $71.82 and its 200 day simple moving average is $67.75. The firm has a market capitalization of $83.71 billion, a PE ratio of 39.91, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53. Amphenol Co. has a twelve month low of $47.76 and a twelve month high of $75.78.

Amphenol (NYSE:APH) last released its quarterly earnings data 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. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.81 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. Amphenol’s revenue was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Tuesday, December 17th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend was Tuesday, December 17th. Amphenol’s payout ratio is 37.93%.

Insider Activity

In other news, insider Peter Straub sold 132,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $74.12, for a total transaction of $9,783,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.76, for a total value of $10,314,000.00. Following the transaction, the chief financial officer now owns 218,116 shares of the company’s stock, valued at $14,997,656.16. This trade represents a 40.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,842,672 shares of company stock valued at $128,858,080. 1.80% of the stock is currently owned by corporate 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.