Legacy Financial Independent Advisors LLC bought a new position in Amphenol Corporation (NYSE:APH – Free Report) during the third quarter, Holdings Channel.com reports. The firm bought 13,440 shares of the electronics maker’s stock, valued at approximately $1,133,000.
Several other institutional investors also recently modified their holdings of the business. Clal Insurance Enterprises Holdings Ltd grew its stake in Amphenol by 85.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 91 shares during the period. Retirement Wealth Solutions LLC raised its stake in shares of Amphenol by 831.2% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 266 shares during the period. Sunrise Financial Services LLC boosted its holdings in shares of Amphenol by 100.0% in the 3rd quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker’s stock worth $27,000 after buying an additional 162 shares during the last quarter. NFSG Corp purchased a new position in shares of Amphenol in the 3rd quarter worth about $28,000. Finally, Wilkerson Advisory Group LLC grew its position in Amphenol by 57.4% during the first quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock valued at $29,000 after buying an additional 85 shares during the period. 97.01% of the stock is owned by institutional investors.
Amphenol Stock Down 9.2%
APH opened at $71.73 on Friday. The company has a 50 day moving average of $81.42 and a 200 day moving average of $75.54. The company has a market cap of $177.13 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a 12 month low of $59.01 and a 12 month high of $89.93. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99.
Amphenol (NYSE:APH – Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The firm had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up 65.1% on a year-over-year basis. On average, sell-side analysts expect that Amphenol Corporation will post 2.84 EPS for the current year.
Amphenol announced that its board has authorized a share buyback plan on Wednesday, October 28th that permits the company to buy back $4 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 2% of its shares through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
Amphenol Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Amphenol’s payout ratio is currently 21.74%.
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.
Analyst Ratings Changes
A number of analysts recently issued reports on the stock. Erste Group Bank initiated coverage on shares of Amphenol in a report on Wednesday, October 21st. They set a “buy” rating for the company. Robert W. Baird dropped their target price on shares of Amphenol from $190.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. BNP Paribas Exane increased their target price on shares of Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a research report on Thursday, October 29th. The Goldman Sachs Group restated a “buy” rating and set a $116.00 price target (up from $102.00) on shares of Amphenol in a research note on Tuesday, October 6th. Finally, Bank of America lifted their price target on shares of Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $108.32.
Get Our Latest Report on Amphenol
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.
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