Legacy Financial Independent Advisors LLC Buys 13,440 Shares of Amphenol Corporation $APH

Legacy Financial Independent Advisors LLC purchased a new stake in Amphenol Corporation (NYSE:APH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,440 shares of the electronics maker’s stock, valued at approximately $1,133,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp increased its position in Amphenol by 24.2% during the 2nd quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock valued at $12,107,146,000 after purchasing an additional 13,884,641 shares during the period. Wellington Management Group LLP lifted its position in shares of Amphenol by 10.5% in the 2nd quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock worth $2,923,371,000 after purchasing an additional 1,578,248 shares during the period. Corient Private Wealth LP boosted 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 valued at $2,898,248,000 after purchasing an additional 15,908,901 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $1,710,939,000 after purchasing an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC bought a new stake in shares of Amphenol in the 2nd quarter valued at $1,600,531,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on APH shares. BNP Paribas Exane lifted their target price on shares of Amphenol from $110.00 to $115.00 and gave the stock an “outperform” rating in a research note on Thursday, October 29th. Zacks Research raised shares of Amphenol from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. Erste Group Bank started coverage on Amphenol in a report on Wednesday, October 21st. They set a “buy” rating for the company. Wolfe Research initiated coverage on Amphenol in a research report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price objective for the company. Finally, Citigroup reaffirmed a “buy” rating and set a $115.00 target price (up from $112.00) on shares of Amphenol in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $108.32.

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of the business’s 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 sale, the chief executive officer directly owned 3,855,014 shares of the company’s stock, valued at $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.42% of the stock is owned by corporate insiders.

Amphenol Stock Down 9.2%

Shares of NYSE APH opened at $71.73 on Friday. The firm has a market cap of $177.13 billion, a PE ratio of 31.19, a P/E/G 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’s fifty day simple moving average is $81.42 and its 200 day simple moving average is $75.54. 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 (NYSE:APH) last released its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter in the prior year, the firm earned $0.93 EPS. The business’s revenue was up 65.1% on a year-over-year basis. As a group, sell-side analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, December 22nd. Amphenol’s dividend payout ratio is 21.74%.

Amphenol declared that its Board of Directors has initiated a stock buyback plan on Wednesday, October 28th that authorizes the company to buy back $4 billion in outstanding shares. This buyback authorization authorizes the electronics maker to reacquire up to 2% of its shares through open market purchases. Share buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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.