Amphenol Corporation $APH Shares Bought by Eastern Bank

Key Points

• Eastern Bank increased its Amphenol stake by 25.4% in the second quarter, adding 40,903 shares to own 201,932 shares valued at approximately $35.6 million. Institutional investors collectively hold 97.01% of APH’s outstanding stock.
• Analysts remain broadly bullish, with one Strong Buy, fourteen Buy, and one Hold rating. The stock has an average price target of $191.67, above its recent opening price of $163.78.
• Amphenol exceeded quarterly expectations, reporting $1.35 in EPS and $8.76 billion in revenue, up 55% year over year. Separately, CEO Richard Adam Norwitt sold 500,000 shares for about $80.8 million, reducing his direct holdings by 20.6%.

Eastern Bank grew its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 25.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 201,932 shares of the electronics maker's stock after purchasing an additional 40,903 shares during the quarter. Eastern Bank's holdings in Amphenol were worth $35,605,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in APH. Brighton Jones LLC grew its position in Amphenol by 114.0% during the fourth quarter. Brighton Jones LLC now owns 17,624 shares of the electronics maker's stock valued at $1,224,000 after acquiring an additional 9,390 shares during the period. Revolve Wealth Partners LLC raised its holdings in shares of Amphenol by 87.9% in the 4th quarter. Revolve Wealth Partners LLC now owns 10,094 shares of the electronics maker's stock worth $701,000 after purchasing an additional 4,721 shares during the period. Bison Wealth LLC lifted its stake in shares of Amphenol by 8.3% in the 4th quarter. Bison Wealth LLC now owns 8,042 shares of the electronics maker's stock valued at $559,000 after purchasing an additional 618 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Amphenol by 55.4% during the 2nd quarter. NewEdge Advisors LLC now owns 62,946 shares of the electronics maker's stock worth $6,216,000 after purchasing an additional 22,434 shares during the period. Finally, Main Street Financial Solutions LLC grew its holdings in shares of Amphenol by 15.5% during the 2nd quarter. Main Street Financial Solutions LLC now owns 4,745 shares of the electronics maker's stock worth $469,000 after purchasing an additional 638 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

APH has been the subject of several research reports. Weiss Ratings reiterated a "buy (b)" rating on shares of Amphenol in a research note on Friday, July 17th. JPMorgan Chase & Co. raised their target price on shares of Amphenol from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Robert W. Baird upped their price target on shares of Amphenol from $177.00 to $190.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Seaport Research Partners reiterated a "buy" rating and issued a $215.00 price target on shares of Amphenol in a report on Thursday, April 30th. Finally, UBS Group reissued a "buy" rating and issued a $197.00 price objective (up from $185.00) on shares of Amphenol in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $191.67.

Amphenol Trading Up 1.9%

NYSE APH opened at $163.78 on Tuesday. The stock has a market cap of $201.49 billion, a P/E ratio of 41.05, a PEG ratio of 1.30 and a beta of 1.24. The company's fifty day simple moving average is $156.24 and its 200-day simple moving average is $145.24. The company has a current ratio of 1.89, a quick ratio of 1.41 and a debt-to-equity ratio of 1.10. Amphenol Corporation has a 52 week low of $104.71 and a 52 week high of $178.52.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The electronics maker reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.16. The firm had revenue of $8.76 billion for the quarter, compared to the consensus estimate of $8.26 billion. Amphenol had a net margin of 17.73% and a return on equity of 39.87%. The firm's quarterly revenue was up 55.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. Amphenol has set its Q3 2026 guidance at 1.400-1.420 EPS. Equities research analysts predict that Amphenol Corporation will post 5.13 EPS for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 23rd were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, June 23rd. This represents a $1.00 annualized dividend and a yield of 0.6%. Amphenol's payout ratio is currently 25.06%.

Insider Activity

In other news, CEO Richard Adam Norwitt sold 500,000 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $161.57, for a total transaction of $80,785,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,927,507 shares in the company, valued at approximately $311,427,305.99. This represents a 20.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.42% of the stock is currently owned by insiders.

Amphenol Profile

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.

Want to see what other hedge funds are holding APH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Amphenol Corporation (NYSE:APH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source