CNB Bank Sells 306 Shares of Amphenol Co. (NYSE:APH)

CNB Bank cut its position in shares of Amphenol Co. (NYSE:APH) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,436 shares of the electronics maker’s stock after selling 306 shares during the quarter. CNB Bank’s holdings in Amphenol were worth $586,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc increased its position in shares of Amphenol by 116.6% during 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. Jacobs Levy Equity Management Inc. raised its stake in Amphenol by 89.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 4,303,215 shares of the electronics maker’s stock worth $280,397,000 after acquiring an additional 2,032,402 shares in the last quarter. Two Sigma Advisers LP bought a new position in shares of Amphenol during the third quarter valued at $113,828,000. Dimensional Fund Advisors LP boosted its stake in shares of Amphenol by 100.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,431,824 shares of the electronics maker’s stock valued at $231,214,000 after purchasing an additional 1,720,856 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Amphenol by 3.0% in the 3rd quarter. State Street Corp now owns 53,534,216 shares of the electronics maker’s stock worth $3,496,777,000 after purchasing an additional 1,537,880 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

APH has been the topic of several research analyst reports. Evercore ISI upped their price objective on shares of Amphenol from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. TD Cowen increased their price target on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. Truist Financial lifted 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. Bank of America boosted their price objective on Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Robert W. Baird raised their target price on Amphenol from $71.00 to $77.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Five 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 stock. According to data from MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and an average price target of $69.63.

Insider Buying and Selling at Amphenol

In related news, CEO Richard Adam Norwitt sold 900,672 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 1,934,848 shares of the company’s stock, valued at approximately $133,136,890.88. This trade represents a 31.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Peter Straub sold 132,000 shares of Amphenol stock in a transaction dated Friday, November 8th. The shares were 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. Over the last quarter, insiders have sold 1,842,672 shares of company stock valued at $128,858,080. 1.80% of the stock is currently owned by company insiders.

Amphenol Stock Down 0.2 %

Shares of NYSE APH opened at $69.75 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. The firm has a market capitalization of $84.09 billion, a PE ratio of 39.92, a price-to-earnings-growth ratio of 2.01 and a beta of 1.24. The firm’s 50-day moving average is $71.99 and its 200-day moving average is $67.72. Amphenol Co. has a 1 year low of $47.76 and a 1 year high of $75.78.

Amphenol (NYSE:APH) last released its 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. The firm had revenue of $4.04 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.39 EPS. Equities analysts expect that Amphenol Co. will post 1.84 EPS for the current year.

Amphenol Dividend Announcement

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

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.