M&T Bank Corp Sells 113,133 Shares of Amphenol Co. (NYSE:APH)

M&T Bank Corp trimmed its position in Amphenol Co. (NYSE:APH - Free Report) by 28.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 289,377 shares of the electronics maker's stock after selling 113,133 shares during the quarter. M&T Bank Corp's holdings in Amphenol were worth $18,856,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its stake in shares of Amphenol by 69.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker's stock worth $1,564,711,000 after acquiring an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. raised its stake in shares of Amphenol by 88.9% in the 2nd quarter. Mawer Investment Management Ltd. now owns 15,455,006 shares of the electronics maker's stock valued at $1,041,204,000 after buying an additional 7,275,279 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Amphenol by 116.6% during the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker's stock worth $662,458,000 after acquiring an additional 5,293,292 shares during the period. National Bank of Canada FI boosted its position in shares of Amphenol by 263.0% during the 2nd quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker's stock valued at $240,935,000 after acquiring an additional 2,585,282 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Amphenol by 81.9% in the second quarter. Envestnet Asset Management Inc. now owns 4,775,417 shares of the electronics maker's stock valued at $321,720,000 after acquiring an additional 2,150,354 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insider Buying and Selling

In other news, CFO Craig A. Lampo sold 150,000 shares of the stock in a transaction 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 completion of the sale, the chief financial officer now owns 218,116 shares of the company's stock, valued at $14,997,656.16. This represents a 40.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter Straub sold 132,000 shares of the business's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $74.12, for a total transaction of $9,783,840.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,842,672 shares of company stock valued at $128,858,080. 1.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on APH. TD Cowen lifted their price objective on Amphenol from $60.00 to $63.00 and gave the company a "hold" rating in a report on Friday, October 25th. Evercore ISI lifted their price objective on Amphenol from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Truist Financial increased their target price on Amphenol from $76.00 to $82.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Bank of America lifted their price target on Amphenol from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Finally, Robert W. Baird raised their price objective on shares of Amphenol from $71.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Five 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 company. According to data from MarketBeat.com, Amphenol currently has an average rating of "Moderate Buy" and an average price target of $69.63.

Amphenol Trading Up 0.8 %

APH traded up $0.57 during midday trading on Friday, reaching $70.58. 11,635,773 shares of the company were exchanged, compared to its average volume of 6,623,740. The stock has a market capitalization of $85.09 billion, a P/E ratio of 40.56, a PEG ratio of 2.44 and a beta of 1.24. Amphenol Co. has a one year low of $46.94 and a one year high of $75.78. The stock's 50-day simple moving average is $71.13 and its 200 day simple moving average is $67.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.33 and a current ratio of 1.99.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.05. The business had revenue of $4.04 billion for 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%. Amphenol's quarterly revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.39 EPS. As a group, analysts forecast that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Tuesday, December 17th. Amphenol's dividend payout ratio is currently 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.