Penobscot Investment Management Company Inc. Boosts Stock Holdings in Amphenol Co. (NYSE:APH)

Penobscot Investment Management Company Inc. boosted its holdings in shares of Amphenol Co. (NYSE:APH) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 57,345 shares of the electronics maker’s stock after buying an additional 6,539 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Amphenol were worth $5,685,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. grew its position in Amphenol by 55.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,376,669 shares of the electronics maker’s stock worth $199,616,000 after acquiring an additional 845,637 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Amphenol by 21.7% during the 3rd quarter. Invesco Ltd. now owns 4,090,708 shares of the electronics maker’s stock valued at $343,579,000 after buying an additional 729,849 shares in the last quarter. FMR LLC lifted its position in Amphenol by 1.3% in the 3rd quarter. FMR LLC now owns 55,500,422 shares of the electronics maker’s stock worth $4,661,480,000 after buying an additional 691,964 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Amphenol by 4.5% in the third quarter. JPMorgan Chase & Co. now owns 15,279,911 shares of the electronics maker’s stock worth $1,283,360,000 after buying an additional 653,354 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Amphenol by 4.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 13,145,093 shares of the electronics maker’s stock worth $1,104,056,000 after acquiring an additional 564,110 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling

In related news, insider William J. Doherty sold 170,000 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider William J. Doherty sold 170,000 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $103.50, for a total transaction of $17,595,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig A. Lampo sold 100,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $104.67, for a total value of $10,467,000.00. Following the completion of the sale, the chief financial officer now directly owns 147,045 shares in the company, valued at $15,391,200.15. The disclosure for this sale can be found here. Insiders sold a total of 305,000 shares of company stock worth $31,846,050 in the last three months. 1.80% of the stock is owned by corporate insiders.

Amphenol Stock Down 0.3 %

Amphenol stock traded down $0.41 during trading hours on Tuesday, hitting $121.72. 1,307,789 shares of the stock traded hands, compared to its average volume of 2,865,729. Amphenol Co. has a one year low of $72.77 and a one year high of $123.60. The firm’s 50-day moving average price is $112.37 and its two-hundred day moving average price is $100.19. The company has a current ratio of 2.06, a quick ratio of 1.43 and a debt-to-equity ratio of 0.41. The company has a market cap of $73.22 billion, a PE ratio of 37.35, a PEG ratio of 3.17 and a beta of 1.30.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, April 24th. The electronics maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 EPS. On average, research analysts forecast that Amphenol Co. will post 3.34 EPS for the current year.

Amphenol declared that its board has initiated a stock repurchase plan on Wednesday, April 24th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the electronics maker to repurchase up to 2.9% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Amphenol Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Stockholders of record on Tuesday, March 19th were given a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend was Monday, March 18th. Amphenol’s dividend payout ratio is presently 26.91%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on APH. Jefferies Financial Group initiated coverage on shares of Amphenol in a research report on Tuesday, April 9th. They set a “hold” rating and a $125.00 price target for the company. Citigroup raised their price target on Amphenol from $117.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 4th. Robert W. Baird boosted their price objective on Amphenol from $123.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, April 25th. Stifel Nicolaus raised their target price on shares of Amphenol from $88.00 to $95.00 and gave the stock a “hold” rating in a report on Thursday, January 25th. Finally, Truist Financial increased their price target on shares of Amphenol from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Amphenol has a consensus rating of “Moderate Buy” and a consensus target price of $118.83.

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.