PNC Financial Services Group Inc. Has $82.64 Million Stock Holdings in Amphenol Corporation (NYSE:APH)

Key Points

• PNC Financial Services Group Inc. decreased its stake in Amphenol Corporation by 1.5%, holding 1,259,944 shares valued at approximately $82.64 million as of the latest SEC filing.
• Amphenol's earnings per share (EPS) for the most recent quarter was $0.81, exceeding analysts' expectations of $0.66, with revenue up 56.5% year-over-year at $5.65 billion.
• The company announced a quarterly dividend of $0.165 per share, reflecting a 0.6% dividend yield, with a payout ratio of 26.29%.

PNC Financial Services Group Inc. reduced its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,259,944 shares of the electronics maker's stock after selling 19,464 shares during the quarter. PNC Financial Services Group Inc. owned 0.10% of Amphenol worth $82,640,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Hughes Financial Services LLC acquired a new position in shares of Amphenol in the first quarter worth $25,000. N.E.W. Advisory Services LLC acquired a new position in shares of Amphenol in the first quarter worth $28,000. Global X Japan Co. Ltd. acquired a new position in shares of Amphenol in the first quarter worth $44,000. Coppell Advisory Solutions LLC acquired a new position in shares of Amphenol in the fourth quarter worth $48,000. Finally, Meeder Asset Management Inc. increased 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 acquiring an additional 200 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Stock Performance

APH stock traded down $1.04 during mid-day trading on Tuesday, reaching $107.59. 1,922,496 shares of the stock traded hands, compared to its average volume of 8,525,247. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. Amphenol Corporation has a 52 week low of $56.45 and a 52 week high of $109.90. The business has a 50-day moving average of $97.45 and a two-hundred day moving average of $80.03. The firm has a market capitalization of $131.36 billion, a PE ratio of 42.75, a P/E/G ratio of 1.74 and a beta of 1.13.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings results 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 period in the prior year, the company earned $0.44 earnings per share. The business's quarterly revenue was up 56.5% compared to the same quarter last year. As a group, equities analysts predict that Amphenol Corporation will post 2.36 EPS for the current fiscal year.

Amphenol Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Tuesday, September 16th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Tuesday, September 16th. Amphenol's dividend payout ratio (DPR) is presently 26.29%.

Insider Activity at Amphenol

In related news, VP Michael R. Ivas sold 40,000 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $88.79, for a total value of $3,551,600.00. Following the completion of the sale, the vice president owned 152,412 shares in the company, valued at approximately $13,532,661.48. This trade represents a 20.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David M. Silverman sold 100,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the completion of the sale, the vice president owned 12,500 shares of the company's stock, valued at approximately $1,113,625. The trade was a 88.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 586,000 shares of company stock worth $52,935,980 in the last three months. Corporate insiders own 1.67% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on APH shares. Wall Street Zen upgraded shares of Amphenol from a "buy" rating to a "strong-buy" rating in a report on Saturday. Evercore ISI upped their price objective on shares of Amphenol from $105.00 to $110.00 and gave the stock an "outperform" rating in a report on Friday, July 18th. Truist Financial upped their price objective on shares of Amphenol from $102.00 to $126.00 and gave the stock a "buy" rating in a report on Thursday, July 24th. TD Securities upped their price objective on shares of Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Amphenol from $120.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. Four equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Amphenol currently has a consensus rating of "Moderate Buy" and a consensus target price of $104.92.

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.