PNC Financial Services Group Inc. Grows Stake in Amphenol Co. (NYSE:APH)

PNC Financial Services Group Inc. grew its holdings in shares of Amphenol Co. (NYSE:APH - Free Report) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,243,376 shares of the electronics maker's stock after acquiring an additional 7,521 shares during the period. PNC Financial Services Group Inc. owned 0.10% of Amphenol worth $81,018,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in APH. Beacon Capital Management LLC increased its position in shares of Amphenol by 121.2% during the second quarter. Beacon Capital Management LLC now owns 376 shares of the electronics maker's stock worth $25,000 after acquiring an additional 206 shares in the last quarter. New England Capital Financial Advisors LLC lifted its stake in Amphenol by 100.0% during the 2nd quarter. New England Capital Financial Advisors LLC now owns 376 shares of the electronics maker's stock valued at $25,000 after acquiring an additional 188 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Amphenol in the 2nd quarter worth $29,000. Trifecta Capital Advisors LLC lifted its position in shares of Amphenol by 352.1% during the third 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 in the last quarter. Finally, Sachetta LLC grew its position in Amphenol by 131.1% in the 2nd quarter. Sachetta LLC now owns 439 shares of the electronics maker's stock worth $27,000 after purchasing an additional 249 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Amphenol Price Performance

Shares of APH traded down $0.07 during midday trading on Wednesday, reaching $70.91. The stock had a trading volume of 4,024,908 shares, compared to its average volume of 6,631,049. 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 2.34 and a beta of 1.23. The company has a current ratio of 1.99, a quick ratio of 1.33 and a debt-to-equity ratio of 0.53. Amphenol Co. has a 12-month low of $44.72 and a 12-month 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 - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. Amphenol had a net margin of 15.40% and a return on equity of 24.68%. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.81 billion. During the same period last year, the firm posted $0.39 earnings per share. The business's revenue was up 26.3% compared to the same quarter last year. On average, equities analysts predict that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Dividend Announcement

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

Insider Buying and Selling at Amphenol

In other news, CEO Richard Adam Norwitt sold 900,672 shares of the company's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $68.81, for a total value of $61,975,240.32. Following the sale, the chief executive officer now directly owns 1,934,848 shares of the company's stock, valued at $133,136,890.88. This represents a 31.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Craig A. Lampo sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $68.76, for a total transaction of $10,314,000.00. Following the transaction, the chief financial officer now directly owns 218,116 shares of the company's stock, valued at $14,997,656.16. This represents a 40.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,842,672 shares of company stock valued at $128,858,080 in the last quarter. Company insiders own 1.80% of the company's stock.

Analysts Set New Price Targets

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

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.