38,469 Amphenol Corporation $APH Shares Purchased by Palisade Asset Management LLC

Palisade Asset Management LLC grew its position in shares of Amphenol Corporation (NYSE:APH) by 100.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 76,888 shares of the electronics maker’s stock after acquiring an additional 38,469 shares during the quarter. Palisade Asset Management LLC’s holdings in Amphenol were worth $6,482,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Amphenol by 85.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 91 shares during the period. Your Advocates Ltd. LLP raised its holdings in Amphenol by 100.0% in the third quarter. Your Advocates Ltd. LLP now owns 300 shares of the electronics maker’s stock valued at $25,000 after buying an additional 150 shares during the period. Retirement Wealth Solutions LLC lifted its position in Amphenol by 831.2% during the third quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker’s stock valued at $26,000 after buying an additional 266 shares in the last quarter. Sunrise Financial Services LLC lifted its position in Amphenol by 100.0% during the third quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker’s stock valued at $27,000 after buying an additional 162 shares in the last quarter. Finally, NFSG Corp purchased a new stake in Amphenol during the third quarter worth approximately $28,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on APH shares. Royal Bank Of Canada set a $100.00 price objective on shares of Amphenol in a research report on Monday, October 26th. UBS Group lifted their target price on shares of Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Wolfe Research started coverage on shares of Amphenol in a research report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 price target for the company. Weiss Ratings downgraded Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 23rd. Finally, Barclays raised their price objective on Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $108.32.

Amphenol Stock Up 4.2%

NYSE APH opened at $74.67 on Friday. 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 Corporation has a fifty-two week low of $59.01 and a fifty-two week high of $89.93. The business has a 50 day moving average price of $81.29 and a two-hundred day moving average price of $75.53. The stock has a market cap of $184.39 billion, a PE ratio of 32.47, a P/E/G ratio of 0.89 and a beta of 1.27.

Amphenol (NYSE:APH) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) 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 company had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the firm posted $0.93 earnings per share. The business’s quarterly revenue was up 65.1% on a year-over-year basis. As a group, sell-side analysts predict that Amphenol Corporation will post 2.84 EPS for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently disclosed 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. The ex-dividend date is Tuesday, December 22nd. This represents a $0.60 annualized dividend and a yield of 0.8%. This is a drop from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s dividend payout ratio (DPR) is presently 26.09%.

Amphenol announced that its board has initiated a stock repurchase plan on Wednesday, October 28th that authorizes the company to buy back $4 billion in shares. This repurchase authorization authorizes the electronics maker to purchase up to 2% of its shares through open market purchases. Share repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $82.48, for a total value of $65,949,028.48. Following the transaction, the chief executive officer directly owned 3,855,014 shares of the company’s stock, valued at $317,961,554.72. This represents a 17.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.42% of the stock is currently owned by insiders.

Amphenol Profile

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.