Amphenol Corporation $APH Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of Amphenol Corporation (NYSE:APH) by 15.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,000,408 shares of the electronics maker’s stock after selling 4,278,253 shares during the quarter. Amphenol comprises about 0.5% of Bank of New York Mellon Corp’s holdings, making the stock its 27th largest position. Bank of New York Mellon Corp owned 1.96% of Amphenol worth $2,970,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its position in Amphenol by 8.4% during the second quarter. Geode Capital Management LLC now owns 28,513,760 shares of the electronics maker’s stock worth $2,804,338,000 after purchasing an additional 2,217,079 shares during the last quarter. Norges Bank acquired a new stake in shares of Amphenol during the 2nd quarter worth $2,104,244,000. Franklin Resources Inc. raised its position in shares of Amphenol by 13.4% in the 2nd quarter. Franklin Resources Inc. now owns 12,547,006 shares of the electronics maker’s stock worth $1,239,017,000 after buying an additional 1,486,105 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Amphenol by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 7,088,586 shares of the electronics maker’s stock valued at $699,998,000 after acquiring an additional 133,966 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Amphenol by 3.7% during the second quarter. Envestnet Asset Management Inc. now owns 5,883,759 shares of the electronics maker’s stock valued at $581,021,000 after acquiring an additional 210,551 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Stock Up 7.2%

Shares of NYSE APH opened at $166.69 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.52 and a current ratio of 2.07. Amphenol Corporation has a 1 year low of $56.45 and a 1 year high of $167.04. The stock’s 50-day simple moving average is $140.60 and its 200-day simple moving average is $126.71. The firm has a market cap of $204.04 billion, a price-to-earnings ratio of 55.56, a PEG ratio of 0.94 and a beta of 1.21.

Insider Buying and Selling at Amphenol

In related news, CFO Craig A. Lampo sold 258,000 shares of the company’s stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $143.20, for a total value of $36,945,600.00. Following the sale, the chief financial officer directly owned 167,695 shares of the company’s stock, valued at $24,013,924. This represents a 60.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider William J. Doherty sold 80,000 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $142.00, for a total transaction of $11,360,000.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 498,076 shares of company stock valued at $70,996,906 in the last three months. Corporate insiders own 1.67% of the company’s stock.

Analyst Upgrades and Downgrades

APH has been the topic of several research analyst reports. Bank of America raised Amphenol from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $120.00 to $150.00 in a research note on Wednesday, October 15th. Barclays upgraded shares of Amphenol from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $143.00 to $156.00 in a research note on Monday, January 12th. Truist Financial set a $182.00 target price on shares of Amphenol in a report on Tuesday, January 13th. The Goldman Sachs Group reiterated a “buy” rating and issued a $183.00 price target on shares of Amphenol in a report on Thursday, January 15th. Finally, Citigroup restated a “buy” rating and set a $175.00 price objective (up previously from $160.00) on shares of Amphenol in a research note on Monday, January 12th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.54.

About Amphenol

Amphenol Corporation (NYSE: APH) is a leading global manufacturer of electronic and fiber optic connectors, interconnect systems, and related components. The company designs, engineers and produces a broad range of products including electrical connectors, cable assemblies, fiber optic solutions, sensors, antennas and electromechanical devices used to transfer power, signal and data across complex systems. Its product portfolio spans ruggedized connectors for harsh environments to high-speed solutions for data centers and telecommunications networks.

Amphenol serves a diverse set of end markets, including automotive, broadband and telecom, data communications, mobile devices, industrial, energy, and military/aerospace.