Skandinaviska Enskilda Banken AB publ Sells 1,213 Shares of Amphenol Co. (NYSE:APH)

Posted by on Feb 24th, 2023

Skandinaviska Enskilda Banken AB publ cut its stake in Amphenol Co. (NYSE:APH – Get Rating) by 11.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,082 shares of the electronics maker’s stock after selling 1,213 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Amphenol were worth $608,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its position in shares of Amphenol by 8.2% during the first quarter. Vontobel Holding Ltd. now owns 13,325 shares of the electronics maker’s stock worth $1,022,000 after purchasing an additional 1,006 shares during the period. Sei Investments Co. grew its stake in shares of Amphenol by 4.0% during the 1st quarter. Sei Investments Co. now owns 168,360 shares of the electronics maker’s stock worth $12,716,000 after acquiring an additional 6,405 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of Amphenol by 56.7% during the 1st quarter. Canada Pension Plan Investment Board now owns 264,188 shares of the electronics maker’s stock worth $19,906,000 after acquiring an additional 95,613 shares during the period. Prudential PLC bought a new position in shares of Amphenol during the 1st quarter worth $857,000. Finally, Sequoia Financial Advisors LLC bought a new position in shares of Amphenol during the 1st quarter worth $245,000. 94.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on APH shares. Robert W. Baird lowered their price target on Amphenol from $93.00 to $91.00 in a report on Thursday, January 26th. Credit Suisse Group assumed coverage on Amphenol in a research report on Monday, December 12th. They set an “outperform” rating and a $93.00 price target on the stock. StockNews.com upgraded Amphenol from a “hold” rating to a “buy” rating in a research report on Thursday. Truist Financial lifted their price objective on Amphenol from $84.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, January 23rd. Finally, Jefferies Financial Group lowered Amphenol from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $87.00 to $88.00 in a research report on Tuesday, November 22nd. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $86.36.

Insider Buying and Selling at Amphenol

In related news, VP Lance E. D’amico sold 25,000 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $82.19, for a total transaction of $2,054,750.00. Following the transaction, the vice president now owns 25,700 shares of the company’s stock, valued at approximately $2,112,283. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Amphenol news, VP Lance E. D’amico sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The stock was sold at an average price of $82.19, for a total value of $2,054,750.00. Following the completion of the sale, the vice president now owns 25,700 shares in the company, valued at $2,112,283. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Richard Adam Norwitt sold 650,000 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $81.72, for a total value of $53,118,000.00. Following the transaction, the chief executive officer now directly owns 967,424 shares in the company, valued at approximately $79,057,889.28. The disclosure for this sale can be found here. Insiders sold a total of 804,800 shares of company stock worth $65,769,622 in the last three months. 2.10% of the stock is owned by corporate insiders.

Amphenol Trading Up 0.6 %

Shares of NYSE APH opened at $77.64 on Friday. The business’s 50 day moving average price is $78.82 and its 200-day moving average price is $76.43. The company has a market cap of $46.16 billion, a price-to-earnings ratio of 25.37, a PEG ratio of 2.93 and a beta of 1.23. Amphenol Co. has a fifty-two week low of $61.67 and a fifty-two week high of $82.86. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.64 and a current ratio of 2.42.

Amphenol (NYSE:APH – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.03. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.15 billion. Amphenol had a return on equity of 27.93% and a net margin of 15.07%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.70 EPS. On average, sell-side analysts expect that Amphenol Co. will post 2.99 earnings per share for the current year.

Amphenol Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 12th. Shareholders of record on Tuesday, March 21st will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 20th. Amphenol’s payout ratio is currently 27.45%.

About Amphenol

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Amphenol Corp. engages in the design, manufacture, and marketing of electrical, electronic and fiber optic connectors, interconnect systems, antennas, sensors and sensor-based products, and specialty cable. Its products include connectors, cable assemblies, sensors, antenna solutions, power distribution, cable, printed circuits, and accessories for connectors and cable.

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Institutional Ownership by Quarter for Amphenol (NYSE:APH)

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