First Nebraska Trust Co acquired a new stake in Amphenol Corporation (NYSE:APH – Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 59,384 shares of the electronics maker’s stock, valued at approximately $5,006,000.
A number of other institutional investors have also recently made changes to their positions in APH. State Street Corp increased its stake in shares of 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 buying an additional 13,884,641 shares during the period. Wellington Management Group LLP boosted its position in Amphenol by 10.5% during the 2nd quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock valued at $2,923,371,000 after buying an additional 1,578,248 shares during the period. Corient Private Wealth LP boosted its position in Amphenol by 3,010.0% during the 2nd quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock valued at $2,898,248,000 after buying an additional 15,908,901 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in 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 acquiring an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in Amphenol in the 2nd quarter worth $1,600,531,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Amphenol Stock Down 9.2%
Shares of NYSE:APH opened at $71.73 on Friday. The stock has a fifty day simple moving average of $81.42 and a two-hundred day simple moving average of $75.54. The stock has a market capitalization 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 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 announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The company had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue for the quarter was up 65.1% on a year-over-year basis. On average, research analysts anticipate that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.
Amphenol declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 28th that permits the company to repurchase $4 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 2% of its stock through open market purchases. Share repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
Amphenol Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 22nd. 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. Amphenol’s dividend payout ratio is presently 21.74%.
Insider Activity
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 sale, the chief executive officer directly owned 3,855,014 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. 1.42% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
APH has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research upgraded Amphenol from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Weiss Ratings lowered Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a research report on Friday, October 23rd. The Goldman Sachs Group reissued a “buy” rating and set a $116.00 target price (up from $102.00) on shares of Amphenol in a research note on Tuesday, October 6th. Finally, Wall Street Zen upgraded Amphenol from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. 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. Based on data from MarketBeat.com, Amphenol has an average rating of “Buy” and an average target price of $108.32.
Get Our Latest Analysis 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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