Hohimer Wealth Management LLC Acquires 6,721 Shares of Amphenol Corporation $APH

Hohimer Wealth Management LLC grew its holdings in Amphenol Corporation (NYSE:APH) by 108.5% during the third quarter, HoldingsChannel.com reports. The firm owned 12,918 shares of the electronics maker’s stock after acquiring an additional 6,721 shares during the quarter. Hohimer Wealth Management LLC’s holdings in Amphenol were worth $1,089,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacific Excel Wealth Advisors Inc. bought a new position in Amphenol during the 2nd quarter worth about $1,927,000. Chicago Partners Investment Group LLC increased its position in Amphenol by 111.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 29,268 shares of the electronics maker’s stock valued at $2,168,000 after purchasing an additional 15,394 shares during the period. Evelyn Partners Investment Management Services Ltd raised its holdings in shares of Amphenol by 132.7% in the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 45,599 shares of the electronics maker’s stock valued at $5,761,000 after purchasing an additional 26,000 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Amphenol by 29.3% in the 1st quarter. Gabelli Funds LLC now owns 193,939 shares of the electronics maker’s stock valued at $24,504,000 after purchasing an additional 43,945 shares in the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Amphenol in the 1st quarter worth approximately $5,637,000. 97.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the firm’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 value 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 $317,961,554.72. This trade represents 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 available at the SEC website. 1.42% of the stock is owned by insiders.

Amphenol Stock Performance

Shares of Amphenol stock opened at $80.89 on Tuesday. The company has a market capitalization of $199.74 billion, a PE ratio of 35.17, a P/E/G 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. The company has a 50-day simple moving average of $81.33 and a two-hundred day simple moving average of $75.55. Amphenol Corporation has a one year low of $59.01 and a one year high of $89.93.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, beating 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 business had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the business earned $0.93 EPS. The company’s revenue was up 65.1% compared to the same quarter last year. Research analysts expect that Amphenol Corporation will post 2.84 EPS for the current fiscal year.

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

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be given a dividend of $0.15 per share. 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 yield of 0.7%. Amphenol’s dividend payout ratio is currently 21.74%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on APH. Erste Group Bank initiated coverage on shares of Amphenol in a research note on Wednesday, October 21st. They set a “buy” rating on the stock. The Goldman Sachs Group reissued a “buy” rating and issued a $116.00 price objective (up from $102.00) on shares of Amphenol in a research note on Tuesday, October 6th. Wolfe Research started coverage on Amphenol in a report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 target price for the company. JPMorgan Chase & Co. upped their target price on Amphenol from $107.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Finally, Royal Bank Of Canada set a $100.00 target price on Amphenol in a research report on Monday, October 26th. One 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 MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $108.32.

About Amphenol

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.

Founded in 1932, Amphenol has grown into a global manufacturer serving customers across the Americas, Europe and Asia.