State Street Corp Acquires 1,537,880 Shares of Amphenol Co. (NYSE:APH)

State Street Corp grew its position in Amphenol Co. (NYSE:APH - Free Report) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 53,534,216 shares of the electronics maker's stock after buying an additional 1,537,880 shares during the quarter. State Street Corp owned 4.44% of Amphenol worth $3,496,777,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Amphenol by 92.0% during the second quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker's stock worth $2,468,301,000 after purchasing an additional 17,552,921 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Amphenol by 69.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker's stock worth $1,564,711,000 after buying an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. boosted its stake in Amphenol by 88.9% in the second 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 grew its position in Amphenol by 116.6% in 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 acquiring an additional 5,293,292 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in Amphenol by 263.0% during the second quarter. National Bank of Canada FI now owns 3,568,426 shares of the electronics maker's stock worth $240,935,000 after acquiring an additional 2,585,282 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Insider Buying and Selling at Amphenol

In related news, CEO Richard Adam Norwitt sold 900,672 shares of the company's stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,934,848 shares of the company's stock, valued at approximately $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 can be accessed 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 value of $10,314,000.00. Following the completion of the sale, the chief financial officer now directly owns 218,116 shares of the company's stock, valued at $14,997,656.16. This trade represents a 40.75 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, 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 Trading Down 0.2 %

NYSE:APH traded down $0.19 on Friday, reaching $74.21. 5,231,930 shares of the stock traded hands, compared to its average volume of 6,571,862. The firm has a market capitalization of $89.46 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 2.43 and a beta of 1.24. Amphenol Co. has a 1-year low of $45.92 and a 1-year high of $74.93. 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 company's 50 day moving average is $69.15 and its 200-day moving average is $66.91.

Amphenol (NYSE:APH - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.05. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.39 earnings per share. Equities research analysts anticipate that Amphenol Co. will post 1.84 EPS for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Tuesday, December 17th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.66 dividend on an annualized basis and a yield of 0.89%. Amphenol's payout ratio is currently 37.93%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on APH. Robert W. Baird lifted 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. TD Cowen boosted their target price 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. 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. Truist Financial boosted their price objective on Amphenol from $76.00 to $82.00 and gave the stock a "buy" rating in a research report on Thursday, October 24th. Finally, Bank of America increased their target price on Amphenol from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Thursday, October 24th. Five analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.63.

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.