Penobscot Investment Management Company Inc. Purchases 6,539 Shares of Amphenol Co. (NYSE:APH)

Penobscot Investment Management Company Inc. lifted its position in Amphenol Co. (NYSE:APH) by 12.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 57,345 shares of the electronics maker’s stock after buying an additional 6,539 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Amphenol were worth $5,685,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC bought a new stake in shares of Amphenol in the 4th quarter valued at about $601,000. Van ECK Associates Corp raised its stake in Amphenol by 4.2% in the fourth quarter. Van ECK Associates Corp now owns 87,129 shares of the electronics maker’s stock worth $8,637,000 after buying an additional 3,544 shares in the last quarter. EWA LLC purchased a new stake in Amphenol during the fourth quarter worth $244,000. Choreo LLC bought a new stake in Amphenol during the 4th quarter valued at $633,000. Finally, Mather Group LLC. increased its holdings in shares of Amphenol by 1.2% in the 4th quarter. Mather Group LLC. now owns 11,342 shares of the electronics maker’s stock valued at $1,124,000 after acquiring an additional 137 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Performance

APH traded down $0.41 on Tuesday, reaching $121.72. 1,307,789 shares of the stock were exchanged, compared to its average volume of 2,865,729. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.06 and a quick ratio of 1.43. The company’s 50-day moving average price is $112.37 and its 200 day moving average price is $100.19. The firm has a market capitalization of $73.22 billion, a PE ratio of 37.35, a PEG ratio of 3.17 and a beta of 1.30. Amphenol Co. has a fifty-two week low of $72.77 and a fifty-two week high of $123.60.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, April 24th. The electronics maker reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 23.85% and a net margin of 15.87%. The firm had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Amphenol’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts forecast that Amphenol Co. will post 3.34 EPS for the current fiscal year.

Amphenol declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 24th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the electronics maker to reacquire up to 2.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Amphenol Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Investors of record on Tuesday, March 19th were issued a dividend of $0.22 per share. The ex-dividend date was Monday, March 18th. This represents a $0.88 annualized dividend and a dividend yield of 0.72%. Amphenol’s dividend payout ratio (DPR) is presently 26.91%.

Insider Activity at Amphenol

In other Amphenol news, insider Peter Straub sold 20,000 shares of Amphenol stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $110.64, for a total transaction of $2,212,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Craig A. Lampo sold 100,000 shares of the stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $104.67, for a total transaction of $10,467,000.00. Following the sale, the chief financial officer now directly owns 147,045 shares of the company’s stock, valued at $15,391,200.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Peter Straub sold 20,000 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $110.64, for a total transaction of $2,212,800.00. The disclosure for this sale can be found here. Insiders sold 305,000 shares of company stock worth $31,846,050 over the last three months. Company insiders own 1.80% of the company’s stock.

Analysts Set New Price Targets

APH has been the topic of a number of recent research reports. Truist Financial raised their price objective on Amphenol from $121.00 to $136.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Evercore ISI lifted their price objective on shares of Amphenol from $125.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of Amphenol from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. The Goldman Sachs Group raised their target price on shares of Amphenol from $107.00 to $119.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, UBS Group upped their price target on Amphenol from $135.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Amphenol has an average rating of “Moderate Buy” and a consensus target price of $118.83.

Amphenol 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.