Hemenway Trust Co LLC Sells 1,675 Shares of Amphenol Co. (NYSE:APH)

Hemenway Trust Co LLC reduced its position in Amphenol Co. (NYSE:APH) by 5.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 28,285 shares of the electronics maker’s stock after selling 1,675 shares during the period. Hemenway Trust Co LLC’s holdings in Amphenol were worth $1,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in APH. Concurrent Investment Advisors LLC lifted its stake in shares of Amphenol by 23.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 4,979 shares of the electronics maker’s stock valued at $574,000 after buying an additional 945 shares in the last quarter. Sei Investments Co. lifted its position in shares of Amphenol by 12.7% during the first quarter. Sei Investments Co. now owns 301,067 shares of the electronics maker’s stock worth $34,728,000 after acquiring an additional 33,913 shares in the last quarter. NorthRock Partners LLC lifted its position in shares of Amphenol by 22.7% during the first quarter. NorthRock Partners LLC now owns 3,140 shares of the electronics maker’s stock worth $362,000 after acquiring an additional 580 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Amphenol by 1.8% in the first quarter. Russell Investments Group Ltd. now owns 412,038 shares of the electronics maker’s stock worth $47,528,000 after acquiring an additional 7,183 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Amphenol by 0.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 131,686 shares of the electronics maker’s stock valued at $15,190,000 after purchasing an additional 664 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Richard Adam Norwitt sold 900,672 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at $133,136,890.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Richard Adam Norwitt sold 900,672 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total transaction of $61,975,240.32. Following the completion of the sale, the chief executive officer now directly owns 1,934,848 shares in the company, valued at approximately $133,136,890.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total value of $19,749,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,242,672 shares of company stock valued at $155,170,080. 1.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

APH has been the subject of several analyst reports. Bank of America raised their target price on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Truist Financial increased their price target on shares of Amphenol from $76.00 to $82.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Robert W. Baird raised their price target on shares of Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Evercore ISI upped 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. Finally, Vertical Research initiated coverage on Amphenol in a research report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Amphenol has a consensus rating of “Moderate Buy” and an average target price of $69.63.

Amphenol Price Performance

Shares of Amphenol stock traded up $0.10 during trading on Tuesday, hitting $73.51. 152,698 shares of the stock traded hands, compared to its average volume of 6,616,594. The stock has a market cap of $88.62 billion, a price-to-earnings ratio of 42.19, a PEG ratio of 2.45 and a beta of 1.23. 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 52 week low of $43.05 and a 52 week high of $74.70. The firm’s fifty day moving average is $65.83 and its 200-day moving average is $65.73.

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

Amphenol Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.66 annualized dividend and a yield of 0.90%. Amphenol’s payout ratio is 37.93%.

About Amphenol

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.