GRIMES & Co WEALTH MANAGEMENT LLC raised its position in Amphenol Corporation (NYSE:APH – Free Report) by 116.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,179 shares of the electronics maker’s stock after buying an additional 13,536 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Amphenol were worth $2,123,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Next Level Wealth Planning LLC lifted its position in shares of Amphenol by 100.0% during the 3rd quarter. Next Level Wealth Planning LLC now owns 8,800 shares of the electronics maker’s stock valued at $742,000 after buying an additional 4,400 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its stake in shares of Amphenol by 92.3% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 2,190 shares of the electronics maker’s stock worth $185,000 after acquiring an additional 1,051 shares during the period. Frederick Financial Consultants LLC increased its holdings in Amphenol by 76.2% in the 3rd quarter. Frederick Financial Consultants LLC now owns 2,544 shares of the electronics maker’s stock worth $214,000 after acquiring an additional 1,100 shares during the last quarter. Signature Equity Partners LLC increased its holdings in Amphenol by 146.1% in the 3rd quarter. Signature Equity Partners LLC now owns 1,947 shares of the electronics maker’s stock worth $164,000 after acquiring an additional 1,156 shares during the last quarter. Finally, XML Financial LLC raised its stake in Amphenol by 104.8% in the 3rd quarter. XML Financial LLC now owns 22,626 shares of the electronics maker’s stock valued at $1,907,000 after acquiring an additional 11,578 shares during the period. 97.01% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on APH. Wolfe Research assumed coverage on shares of Amphenol in a report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 price objective on the stock. Rothschild & Co Redburn reduced their target price on shares of Amphenol from $197.00 to $107.00 in a research note on Friday, October 30th. The Goldman Sachs Group reissued a “buy” rating and issued a $116.00 price target (up from $102.00) on shares of Amphenol in a research report on Tuesday, October 6th. Wall Street Zen raised shares of Amphenol from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, BNP Paribas Exane upped their price target on shares of Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $108.32.
Read Our Latest Stock Report on Amphenol
Amphenol Stock Performance
Shares of APH opened at $71.73 on Friday. The stock’s 50-day simple moving average is $81.42 and its 200 day simple moving average is $75.54. The stock has a market capitalization of $177.13 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94. Amphenol Corporation has a 52-week low of $59.01 and a 52-week high of $89.93.
Amphenol (NYSE:APH – Get Free Report) last issued its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The firm’s revenue was up 65.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. Research analysts forecast that Amphenol Corporation will post 2.84 EPS for the current fiscal year.
Amphenol Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a decrease from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol’s dividend payout ratio (DPR) is 21.74%.
Amphenol declared that its board has approved a share repurchase plan on Wednesday, October 28th that permits the company to repurchase $4 billion in shares. This buyback authorization permits the electronics maker to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its stock is undervalued.
Insider Activity at Amphenol
In related news, CEO Richard Norwitt sold 799,576 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $82.48, for a total transaction of $65,949,028.48. Following the completion of the transaction, the chief executive officer owned 3,855,014 shares of the company’s stock, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.42% of the company’s stock.
Amphenol Profile
Amphenol Corporation (NYSE: APH) is a global manufacturer of electrical, electronic and fiber-optic connectors, interconnect systems and related products. Its portfolio includes cable assemblies, sensors, antennas, backplane systems, radio-frequency components and other specialized electronic hardware.
The company serves customers across a range of industries, including automotive, aerospace and defense, information technology and data communications, industrial, mobile networks, commercial aerospace, medical and other markets.
Featured Articles
- Five stocks we like better than Amphenol
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
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).
Receive News & Ratings for Amphenol Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Amphenol and related companies with MarketBeat.com's FREE daily email newsletter.
