Amphenol Corporation (NYSE:APH – Get Free Report) 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 transaction of $65,949,028.48. Following the completion of the transaction, the chief executive officer directly owned 3,855,014 shares of the company’s stock, valued at approximately $317,961,554.72. This trade represents a 17.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Amphenol Stock Down 9.2%
APH opened at $71.73 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94. The company has a market cap of $177.13 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a one year low of $59.01 and a one year high of $89.93. The business’s fifty day moving average is $81.42 and its two-hundred day moving average is $75.54.
Amphenol (NYSE:APH – Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The business had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the company posted $0.93 EPS. The business’s revenue was up 65.1% on a year-over-year basis. Analysts anticipate that Amphenol Corporation will post 2.84 EPS for the current fiscal year.
Amphenol Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. This is a decrease from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. This represents a $0.60 annualized dividend and a yield of 0.8%. Amphenol’s payout ratio is 21.74%.
Amphenol declared that its Board of Directors has initiated a share repurchase program on Wednesday, October 28th that allows the company to repurchase $4 billion in outstanding shares. This buyback authorization allows the electronics maker to buy up to 2% of its shares through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd grew its holdings in Amphenol by 85.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock worth $25,000 after buying an additional 91 shares in the last quarter. Your Advocates Ltd. LLP raised its stake in Amphenol by 100.0% during the 3rd quarter. Your Advocates Ltd. LLP now owns 300 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. Retirement Wealth Solutions LLC raised its stake in Amphenol by 831.2% during the 3rd quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 266 shares in the last quarter. Sunrise Financial Services LLC boosted its position in Amphenol by 100.0% during the 3rd quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 162 shares during the period. Finally, NFSG Corp acquired a new position in Amphenol during the 3rd quarter worth $28,000. Institutional investors and hedge funds own 97.01% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on APH. Barclays increased their price target on shares of Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday. Bank of America lifted their price objective on Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Wolfe Research assumed coverage on Amphenol in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, Citigroup reiterated a “buy” rating and set a $115.00 target price (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. One investment 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 stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $108.32.
Get Our Latest Stock Report on Amphenol
Amphenol Company 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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