Eastern Bank Acquires 659 Shares of Amphenol Corporation (NYSE:APH)

Eastern Bank grew its holdings in Amphenol Corporation (NYSE:APH) by 79.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,491 shares of the electronics maker’s stock after acquiring an additional 659 shares during the period. Eastern Bank’s holdings in Amphenol were worth $98,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Hughes Financial Services LLC acquired a new stake in shares of Amphenol in the first quarter worth $25,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Amphenol in the first quarter worth $28,000. Global X Japan Co. Ltd. acquired a new stake in shares of Amphenol in the first quarter worth $44,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Amphenol in the fourth quarter worth $48,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Amphenol by 30.5% in the first quarter. Meeder Asset Management Inc. now owns 856 shares of the electronics maker’s stock worth $56,000 after buying an additional 200 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Amphenol Trading Down 2.1%

Shares of APH stock opened at $104.29 on Friday. Amphenol Corporation has a 52-week low of $54.77 and a 52-week high of $108.85. The stock has a market cap of $127.33 billion, a price-to-earnings ratio of 41.55, a P/E/G ratio of 1.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.46 and a current ratio of 2.02. The firm has a fifty day moving average of $96.99 and a 200-day moving average of $79.62.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The company had revenue of $5.65 billion during the quarter, compared to analysts’ expectations of $5.01 billion. During the same quarter in the prior year, the company posted $0.44 EPS. The business’s revenue was up 56.5% on a year-over-year basis. On average, equities research analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Tuesday, September 16th will be issued a $0.165 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. Amphenol’s dividend payout ratio is presently 26.29%.

Insider Activity

In other news, VP David M. Silverman sold 100,000 shares of the company’s stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $89.09, for a total value of $8,909,000.00. Following the sale, the vice president owned 12,500 shares of the company’s stock, valued at approximately $1,113,625. This represents a 88.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider William J. Doherty sold 160,000 shares of the company’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $89.54, for a total transaction of $14,326,400.00. The disclosure for this sale can be found here. Insiders sold a total of 586,000 shares of company stock worth $52,935,980 in the last quarter. 1.67% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on APH. Wall Street Zen upgraded shares of Amphenol from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Truist Financial upped their target price on shares of Amphenol from $102.00 to $126.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. Citigroup upped their target price on shares of Amphenol from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Thursday, July 24th. The Goldman Sachs Group reiterated a “buy” rating on shares of Amphenol in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their target price on shares of Amphenol from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Amphenol currently has an average rating of “Moderate Buy” and an average target price of $102.23.

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.