Amphenol Corporation $APH Stock: GRIMES & Co WEALTH MANAGEMENT LLC Grows Holdings

GRIMES & Co WEALTH MANAGEMENT LLC grew its stake in shares of Amphenol Corporation (NYSE:APH) by 116.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 25,179 shares of the electronics maker’s stock after purchasing an additional 13,536 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Amphenol were worth $2,123,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Next Level Wealth Planning LLC lifted its holdings in shares of Amphenol by 100.0% in the third quarter. Next Level Wealth Planning LLC now owns 8,800 shares of the electronics maker’s stock valued at $742,000 after purchasing an additional 4,400 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in Amphenol by 92.3% during the third quarter. Blue Bell Private Wealth Management LLC now owns 2,190 shares of the electronics maker’s stock worth $185,000 after buying an additional 1,051 shares in the last quarter. Frederick Financial Consultants LLC grew its holdings in Amphenol by 76.2% during the third quarter. Frederick Financial Consultants LLC now owns 2,544 shares of the electronics maker’s stock worth $214,000 after buying an additional 1,100 shares in the last quarter. Signature Equity Partners LLC raised its position in Amphenol by 146.1% in the 3rd quarter. Signature Equity Partners LLC now owns 1,947 shares of the electronics maker’s stock valued at $164,000 after buying an additional 1,156 shares during the last quarter. Finally, XML Financial LLC raised its position in Amphenol by 104.8% in the 3rd quarter. XML Financial LLC now owns 22,626 shares of the electronics maker’s stock valued at $1,907,000 after buying an additional 11,578 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Performance

Shares of APH opened at $71.73 on Friday. The stock has a 50 day moving average of $81.42 and a 200 day moving average of $75.54. The company 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) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The business’s revenue was up 65.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 earnings per share. As a group, sell-side analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current year.

Amphenol declared that its board has authorized a share buyback plan on Wednesday, October 28th that authorizes the company to repurchase $4 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 2% of its stock through open market purchases. Share buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Amphenol Cuts Dividend

The business 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 $0.15 dividend. This is a decrease from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Amphenol’s payout ratio is presently 21.74%.

Insiders Place Their Bets

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 transaction of $65,949,028.48. Following the completion of the transaction, the chief executive officer owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. This represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on APH. Royal Bank Of Canada set a $100.00 price objective on Amphenol in a research note on Monday, October 26th. Barclays upped their target price on shares of Amphenol from $100.00 to $111.00 and gave the stock an “overweight” rating in a research note on Monday. The Goldman Sachs Group reiterated a “buy” rating and issued a $116.00 target price (up from $102.00) on shares of Amphenol in a report on Tuesday, October 6th. Wolfe Research initiated coverage on shares of Amphenol in a research report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 price target on the stock. Finally, Erste Group Bank began coverage on shares of Amphenol in a report on Wednesday, October 21st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Amphenol presently has a consensus rating of “Buy” and a consensus price target of $108.32.

About Amphenol

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.