Amphenol Co. (NYSE:APH) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN lowered its stake in shares of Amphenol Co. (NYSE:APH - Free Report) by 45.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,207 shares of the electronics maker's stock after selling 7,749 shares during the quarter. OLD National Bancorp IN's holdings in Amphenol were worth $913,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Peoples Bank KS acquired a new position in Amphenol in the third quarter valued at $27,000. Venturi Wealth Management LLC grew its stake in Amphenol by 75.5% during the 4th quarter. Venturi Wealth Management LLC now owns 330 shares of the electronics maker's stock worth $33,000 after buying an additional 142 shares during the last quarter. Avior Wealth Management LLC increased its position in Amphenol by 70.8% during the fourth quarter. Avior Wealth Management LLC now owns 333 shares of the electronics maker's stock worth $33,000 after buying an additional 138 shares during the period. Mendota Financial Group LLC purchased a new stake in Amphenol in the fourth quarter valued at approximately $33,000. Finally, Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of Amphenol in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Amphenol Price Performance

Shares of NYSE APH traded up $2.05 during trading on Wednesday, hitting $116.31. 7,624,930 shares of the company were exchanged, compared to its average volume of 2,853,614. The firm's fifty day moving average price is $111.48 and its 200 day moving average price is $99.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.17 and a quick ratio of 1.48. The company has a market cap of $69.97 billion, a price-to-earnings ratio of 37.40, a PEG ratio of 3.00 and a beta of 1.30. Amphenol Co. has a 1 year low of $72.00 and a 1 year high of $119.59.

Amphenol (NYSE:APH - Get Free Report) last issued its earnings results on Wednesday, January 24th. The electronics maker reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. Amphenol had a net margin of 15.36% and a return on equity of 23.94%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. On average, sell-side analysts expect that Amphenol Co. will post 3.28 earnings per share for the current fiscal year.

Amphenol Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 10th. Shareholders of record on Tuesday, March 19th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 18th. This represents a $0.88 annualized dividend and a yield of 0.76%. Amphenol's payout ratio is currently 28.30%.

Amphenol declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 24th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the electronics maker to reacquire up to 2.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently commented on APH. JPMorgan Chase & Co. upped their price target on shares of Amphenol from $118.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, April 11th. Bank of America increased their target price on shares of Amphenol from $117.00 to $121.00 and gave the stock a "buy" rating in a research note on Thursday, April 18th. Evercore ISI boosted their price target on Amphenol from $110.00 to $125.00 and gave the company an "outperform" rating in a research report on Monday, March 25th. The Goldman Sachs Group upped their price objective on 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 lifted their target price on Amphenol from $118.00 to $135.00 and gave the company a "buy" rating in a research note on Tuesday, April 16th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $113.75.

Insiders Place Their Bets

In other Amphenol news, insider William J. Doherty sold 170,000 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Craig A. Lampo sold 100,000 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $104.67, for a total value of $10,467,000.00. Following the sale, the chief financial officer now directly owns 147,045 shares in the company, valued at $15,391,200.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William J. Doherty sold 170,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $103.50, for a total transaction of $17,595,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 305,000 shares of company stock worth $31,846,050. 1.80% of the stock is owned by company insiders.

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.