Synovus Financial Corp Sells 6,822 Shares of Amphenol Co. (NYSE:APH)

Synovus Financial Corp decreased its holdings in Amphenol Co. (NYSE:APH - Free Report) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 66,009 shares of the electronics maker's stock after selling 6,822 shares during the quarter. Synovus Financial Corp's holdings in Amphenol were worth $4,301,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of Amphenol by 3.0% during 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. Bank of New York Mellon Corp lifted its position in shares of 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. Geode Capital Management LLC lifted its stake in Amphenol by 2.3% during the third quarter. Geode Capital Management LLC now owns 24,666,093 shares of the electronics maker's stock worth $1,601,540,000 after purchasing an additional 564,991 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Amphenol by 69.1% during 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 period. Finally, Mawer Investment Management Ltd. increased its holdings 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 worth $1,041,204,000 after acquiring an additional 7,275,279 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Amphenol news, CFO Craig A. Lampo sold 150,000 shares of the company's stock in a transaction dated 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 directly owns 218,116 shares in the company, valued at $14,997,656.16. This represents a 40.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Peter Straub sold 132,000 shares of the business's stock in a transaction dated Friday, November 8th. The stock was 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. Insiders have sold 1,842,672 shares of company stock valued at $128,858,080 over the last three months. 1.80% of the stock is currently owned by insiders.

Amphenol Stock Up 0.0 %

Shares of NYSE:APH traded up $0.03 during trading on Friday, reaching $73.63. 5,437,366 shares of the company traded hands, compared to its average volume of 6,555,143. The company has a quick ratio of 1.33, a current ratio of 1.99 and a debt-to-equity ratio of 0.53. Amphenol Co. has a 1-year low of $46.94 and a 1-year high of $74.93. The firm has a fifty day simple moving average of $70.37 and a 200 day simple moving average of $67.16. The firm has a market cap of $88.77 billion, a P/E ratio of 42.32, a price-to-earnings-growth ratio of 2.44 and a beta of 1.24.

Amphenol (NYSE:APH - Get Free Report) last posted its quarterly 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 company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.81 billion. Amphenol had a return on equity of 24.68% and a net margin of 15.40%. The business's quarterly revenue was up 26.3% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. Analysts anticipate that Amphenol Co. will post 1.84 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, December 17th. Amphenol's dividend payout ratio is presently 37.93%.

Amphenol Company 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.