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Westpac Banking Corp Sells 12,746 Shares of Amphenol Corporation (NYSE:APH)

Amphenol logo with Computer and Technology background

Key Points

  • Westpac Banking Corp reduced its stake in Amphenol Corporation by 18.1% in Q1 2023, holding a total of 57,820 shares worth approximately $3.79 million after selling 12,746 shares during the period.
  • Several institutional investors, including Brighton Jones LLC and Rockefeller Capital Management, significantly increased their positions in Amphenol in the previous quarter, indicating strong interest in the stock among large investors.
  • Amphenol recently announced a quarterly dividend of $0.165 per share, reflecting an annualized yield of 0.6% and a payout ratio of 26.29%.
  • Looking to export and analyze Amphenol data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Westpac Banking Corp cut its stake in shares of Amphenol Corporation (NYSE:APH - Free Report) by 18.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,820 shares of the electronics maker's stock after selling 12,746 shares during the period. Westpac Banking Corp's holdings in Amphenol were worth $3,792,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. Callan Family Office LLC lifted its stake in Amphenol by 26.9% during the 1st quarter. Callan Family Office LLC now owns 93,228 shares of the electronics maker's stock valued at $6,115,000 after acquiring an additional 19,789 shares in the last quarter. AGF Management Ltd. increased its stake in shares of Amphenol by 175.2% during the 1st quarter. AGF Management Ltd. now owns 1,024,293 shares of the electronics maker's stock worth $67,183,000 after purchasing an additional 652,125 shares during the last quarter. Independent Advisor Alliance increased its stake in shares of Amphenol by 1.7% during the 1st quarter. Independent Advisor Alliance now owns 7,180 shares of the electronics maker's stock worth $471,000 after purchasing an additional 122 shares during the last quarter. Cove Private Wealth LLC increased its stake in shares of Amphenol by 12.5% during the 1st quarter. Cove Private Wealth LLC now owns 10,284 shares of the electronics maker's stock worth $675,000 after purchasing an additional 1,140 shares during the last quarter. Finally, SouthState Corp purchased a new stake in shares of Amphenol during the 1st quarter worth approximately $36,000. 97.01% of the stock is currently owned by institutional investors.

Amphenol Stock Down 1.4%

Shares of APH traded down $1.54 on Friday, hitting $109.20. 6,535,455 shares of the stock traded hands, compared to its average volume of 8,479,398. The company has a market capitalization of $133.32 billion, a PE ratio of 43.51, a P/E/G ratio of 1.76 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 business has a 50 day simple moving average of $100.58 and a 200 day simple moving average of $81.92. Amphenol Corporation has a one year low of $56.45 and a one year high of $112.35.

Amphenol (NYSE:APH - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 EPS for the quarter, topping 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 business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.01 billion. During the same quarter in the previous year, the firm posted $0.44 EPS. The firm's revenue was up 56.5% on a year-over-year basis. As a group, equities analysts forecast that Amphenol Corporation will post 2.36 earnings per share for the current fiscal year.

Amphenol Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.165 per share. 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 currently 26.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. TD Securities raised their price target on shares of Amphenol from $63.00 to $70.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. lifted their price objective 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. Citigroup lifted their price objective 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. Fox Advisors upgraded shares of Amphenol from an "equal weight" rating to an "overweight" rating and set a $85.00 price objective for the company in a research note on Thursday, April 24th. Finally, Truist Financial lifted their price objective 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. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Amphenol has an average rating of "Moderate Buy" and an average price target of $104.92.

View Our Latest Report on APH

Insider Buying and Selling at Amphenol

In other news, VP Michael R. Ivas sold 40,000 shares of Amphenol stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the transaction, the vice president owned 152,412 shares in the company, valued at $13,532,661.48. This trade represents a 20.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP David M. Silverman sold 100,000 shares of Amphenol stock in a transaction on Friday, May 30th. The stock was sold at an average price of $89.09, for a total transaction of $8,909,000.00. Following the transaction, the vice president owned 12,500 shares in the company, valued at $1,113,625. This represents a 88.89% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 812,000 shares of company stock worth $77,703,320. 1.67% of the stock is owned by insiders.

Amphenol Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Amphenol (NYSE:APH)

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