Birch Hill Investment Advisors LLC Lowers Position in Amphenol Co. (NYSE:APH)

by · The Markets Daily

Birch Hill Investment Advisors LLC cut its holdings in Amphenol Co. (NYSE:APH – Free Report) by 1.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 587,852 shares of the electronics maker’s stock after selling 5,952 shares during the quarter. Amphenol makes up about 1.8% of Birch Hill Investment Advisors LLC’s investment portfolio, making the stock its 19th largest position. Birch Hill Investment Advisors LLC’s holdings in Amphenol were worth $38,304,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its position in shares of Amphenol by 92.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 36,637,988 shares of the electronics maker’s stock valued at $2,468,301,000 after purchasing an additional 17,552,921 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Amphenol by 69.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 23,225,629 shares of the electronics maker’s stock valued at $1,564,711,000 after purchasing an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. raised its position 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 purchasing an additional 7,275,279 shares during the last quarter. Legal & General Group Plc raised its position in shares of Amphenol by 116.6% in the 2nd quarter. Legal & General Group Plc now owns 9,833,128 shares of the electronics maker’s stock valued at $662,458,000 after purchasing an additional 5,293,292 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Amphenol by 263.0% in 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 purchasing an additional 2,585,282 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Performance

Shares of Amphenol stock opened at $65.56 on Friday. Amphenol Co. has a one year low of $39.34 and a one year high of $70.84. The company has a market cap of $78.75 billion, a PE ratio of 40.22, a P/E/G ratio of 2.56 and a beta of 1.24. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.32 and a current ratio of 2.02. The business has a 50-day simple moving average of $64.13 and a 200-day simple moving average of $63.93.

Amphenol (NYSE:APH – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The electronics maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. Amphenol had a return on equity of 24.08% and a net margin of 15.69%. The business had revenue of $3.61 billion during the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities research analysts forecast that Amphenol Co. will post 1.76 EPS for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 9th. Investors of record on Tuesday, September 17th were paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.01%. The ex-dividend date was Tuesday, September 17th. Amphenol’s payout ratio is 40.49%.

Insider Buying and Selling

In related news, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $65.83, for a total transaction of $19,749,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Amphenol news, CEO Richard Adam Norwitt sold 750,000 shares of the business’s stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $64.54, for a total value of $48,405,000.00. Following the completion of the sale, the chief executive officer now owns 1,934,848 shares in the company, valued at approximately $124,875,089.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William J. Doherty sold 300,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $65.83, for a total value of $19,749,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,516,000 shares of company stock worth $98,236,640 over the last 90 days. 1.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group increased their price target on shares of Amphenol from $69.00 to $80.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Bank of America cut their price target on shares of Amphenol from $71.00 to $70.00 and set a “neutral” rating on the stock in a report on Wednesday. Truist Financial increased their price target on shares of Amphenol from $74.50 to $76.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird cut their price target on shares of Amphenol from $72.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, July 25th. Finally, Vertical Research started coverage on shares of Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 price target on the stock. Five research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amphenol currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Check Out Our Latest Report on APH

Amphenol Profile

(Free Report)

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.

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