UNIVEST FINANCIAL Corp Acquires New Holdings in Amphenol Corporation $APH

UNIVEST FINANCIAL Corp bought a new stake in shares of Amphenol Corporation (NYSE:APH – Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 130,688 shares of the electronics maker’s stock, valued at approximately $11,017,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in Amphenol by 24.2% in the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after purchasing an additional 13,884,641 shares during the last quarter. Wellington Management Group LLP lifted its position in Amphenol by 10.5% during the second quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock valued at $2,923,371,000 after purchasing an additional 1,578,248 shares during the last quarter. Corient Private Wealth LP grew its stake in shares of Amphenol by 3,010.0% in the 2nd quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock worth $2,898,248,000 after buying an additional 15,908,901 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Amphenol by 4.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,703,604 shares of the electronics maker’s stock worth $1,710,939,000 after buying an additional 416,388 shares in the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Amphenol in the 2nd quarter worth about $1,600,531,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Richard Norwitt sold 799,576 shares of the stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $82.48, for a total value of $65,949,028.48. Following the sale, the chief executive officer directly owned 3,855,014 shares of the company’s stock, valued at $317,961,554.72. This represents a 17.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.42% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Wolfe Research started coverage on shares of Amphenol in a research report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 target price on the stock. UBS Group lifted their price target on Amphenol from $105.00 to $111.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. Truist Financial boosted their price objective on Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Bank of America upped their price objective on Amphenol from $99.00 to $104.00 and gave the company a “buy” rating in a research report on Tuesday, October 13th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $102.00 price objective on shares of Amphenol in a research note on Monday, November 2nd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $107.00.

Get Our Latest Report on Amphenol

Amphenol Stock Down 0.8%

NYSE APH opened at $79.32 on Thursday. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. Amphenol Corporation has a 52 week low of $59.01 and a 52 week high of $89.93. The firm has a market capitalization of $195.85 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 0.95 and a beta of 1.27. The company has a fifty day moving average of $81.30 and a two-hundred day moving average of $75.59.

Amphenol (NYSE:APH – Get Free Report) last announced its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business’s revenue for the quarter was up 65.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.93 earnings per share. On average, analysts predict that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 28th that permits the company to repurchase $4 billion in outstanding shares. This repurchase authorization permits the electronics maker to buy up to 2% of its shares through open market purchases. Share repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Amphenol Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, December 22nd. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s payout ratio is currently 21.74%.

Amphenol Company Profile

(Free Report)

Amphenol Corporation designs, manufactures and markets electrical, electronic and fiber-optic connectors, interconnect systems, antennas and sensor products. Its offerings also include cable assemblies and related components used to transmit signals and power in electronic equipment and systems. The company serves customers in a range of markets, including communications and information technology, automotive, aerospace and defense, industrial, mobile devices and data networks. Its products are used in applications such as vehicles, communications infrastructure, commercial aircraft and industrial equipment.

See Also

Institutional Ownership by Quarter for Amphenol (NYSE:APH)

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