Pinnacle Financial Partners Inc Sells 686 Shares of Amphenol Co. (NYSE:APH)

Pinnacle Financial Partners Inc trimmed its stake in Amphenol Co. (NYSE:APH) by 8.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,208 shares of the electronics maker’s stock after selling 686 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Amphenol were worth $470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Amphenol by 92.0% during 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 grew its holdings in shares of 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 valued at $1,564,711,000 after buying an additional 9,487,387 shares during the last quarter. Mawer Investment Management Ltd. increased its position in shares of Amphenol by 88.9% during 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 acquiring an additional 7,275,279 shares in the last quarter. Legal & General Group Plc lifted its position in 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 acquiring an additional 5,293,292 shares in the last quarter. Finally, National Bank of Canada FI lifted its position in 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 acquiring an additional 2,585,282 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

APH has been the subject of several recent analyst reports. TD Cowen boosted their price target on Amphenol from $60.00 to $63.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Truist Financial upped their target price on shares of Amphenol from $76.00 to $82.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Robert W. Baird lifted their price target on shares of Amphenol from $71.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Vertical Research initiated coverage on shares of Amphenol in a report on Tuesday, July 23rd. They issued a “hold” rating and a $65.00 target price on the stock. Finally, Bank of America lifted their target price on shares of Amphenol from $70.00 to $74.00 and gave the stock a “neutral” rating in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.63.

Insider Buying and Selling

In other news, CFO Craig A. Lampo sold 150,000 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $68.76, for a total value of $10,314,000.00. Following the completion of the transaction, 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Richard Adam Norwitt sold 900,672 shares of Amphenol stock in a transaction that occurred on 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 in the company, valued at $133,136,890.88. This trade represents a 31.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,842,672 shares of company stock valued at $128,858,080. Company insiders own 1.80% of the company’s stock.

Amphenol Stock Performance

Shares of APH opened at $72.59 on Friday. The business has a 50-day simple moving average of $66.25 and a two-hundred day simple moving average of $65.86. 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 52 week low of $44.42 and a 52 week high of $74.70. The stock has a market cap of $87.52 billion, a price-to-earnings ratio of 41.72, a PEG ratio of 2.39 and a beta of 1.23.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, October 23rd. The electronics maker reported $0.50 earnings per share (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 company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.81 billion. During the same period in the prior year, the firm posted $0.39 EPS. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. On average, analysts expect that Amphenol Co. will post 1.84 EPS for the current year.

Amphenol Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Tuesday, December 17th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date is Tuesday, December 17th. Amphenol’s dividend payout ratio (DPR) is 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.