Massachusetts Financial Services Co. MA Trims Stock Holdings in Amphenol Co. (NYSE:APH)

Massachusetts Financial Services Co. MA lowered its stake in shares of Amphenol Co. (NYSE:APH) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,840,512 shares of the electronics maker’s stock after selling 385,117 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Amphenol were worth $1,488,288,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in APH. Intech Investment Management LLC grew its stake in Amphenol by 40.3% during the third quarter. Intech Investment Management LLC now owns 32,580 shares of the electronics maker’s stock valued at $2,123,000 after acquiring an additional 9,355 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of Amphenol by 39.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 957,035 shares of the electronics maker’s stock valued at $62,360,000 after purchasing an additional 271,643 shares in the last quarter. Citizens Financial Group Inc. RI increased its holdings in shares of Amphenol by 21.7% in the third quarter. Citizens Financial Group Inc. RI now owns 12,236 shares of the electronics maker’s stock worth $799,000 after purchasing an additional 2,179 shares during the period. Portfolio Design Labs LLC raised its position in shares of Amphenol by 15.0% in the third quarter. Portfolio Design Labs LLC now owns 85,638 shares of the electronics maker’s stock worth $5,580,000 after buying an additional 11,166 shares in the last quarter. Finally, Advisors Asset Management Inc. grew its position in Amphenol by 22.3% during the third quarter. Advisors Asset Management Inc. now owns 106,899 shares of the electronics maker’s stock worth $6,966,000 after buying an additional 19,496 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Amphenol Stock Performance

Shares of APH stock opened at $70.91 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99. The company has a market capitalization of $85.49 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.36 and a beta of 1.23. Amphenol Co. has a one year low of $44.72 and a one year high of $74.70. The company’s 50-day moving average is $67.24 and its 200 day moving average is $66.22.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, beating the consensus estimate of $0.45 by $0.05. The company had revenue of $4.04 billion for the quarter, compared to analysts’ expectations 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. Sell-side analysts expect that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, December 17th. Amphenol’s dividend payout ratio is 37.93%.

Insider Buying and Selling at Amphenol

In other Amphenol news, insider Peter Straub sold 132,000 shares of the business’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Richard Adam Norwitt sold 900,672 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total value of $61,975,240.32. Following the completion of the transaction, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,842,672 shares of company stock worth $128,858,080 in the last three months. 1.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.