Mesirow Financial Investment Management Inc. Acquires 38,030 Shares of Amphenol Corporation $APH

Mesirow Financial Investment Management Inc. lifted its holdings in shares of Amphenol Corporation (NYSE:APH) by 122.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 69,054 shares of the electronics maker’s stock after purchasing an additional 38,030 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Amphenol were worth $5,821,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Corient Private Wealth LP raised its stake in shares of Amphenol by 3,010.0% in the second quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock worth $2,898,248,000 after purchasing an additional 15,908,901 shares during the last quarter. State Street Corp lifted its holdings 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 valued at $12,107,146,000 after purchasing an additional 13,884,641 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Amphenol during the second quarter valued at approximately $1,600,531,000. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Amphenol by 90.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock valued at $666,051,000 after buying an additional 3,761,224 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Amphenol by 132.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,610,411 shares of the electronics maker’s stock worth $309,304,000 after buying an additional 2,054,660 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Buying and Selling at Amphenol

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of Amphenol stock in a transaction dated Monday, November 2nd. The stock was 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 of the company’s stock, valued at $317,961,554.72. The trade was a 17.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.42% of the company’s stock.

Amphenol Stock Down 0.9%

Shares of NYSE:APH opened at $79.98 on Wednesday. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The company has a market capitalization of $197.50 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 0.96 and a beta of 1.27. The business has a fifty day moving average price of $81.34 and a two-hundred day moving average price of $75.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42.

Amphenol (NYSE:APH) last released its 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 firm had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the previous year, the company earned $0.93 earnings per share. The company’s quarterly revenue was up 65.1% on a year-over-year basis. Analysts forecast that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol declared that its board has approved a stock buyback program on Wednesday, October 28th that allows the company to repurchase $4 billion in shares. This buyback authorization allows the electronics maker to reacquire up to 2% of its shares through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a drop from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol’s dividend payout ratio (DPR) is presently 26.09%.

Analysts Set New Price Targets

Several equities analysts have weighed in on APH shares. TD Cowen dropped their price objective on Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, September 9th. Evercore set a $100.00 target price on shares of Amphenol in a research note on Wednesday, October 28th. Citigroup reiterated a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of Amphenol in a research note on Thursday, October 29th. UBS Group increased 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. Finally, Truist Financial raised their price target on shares of Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $108.32.

Amphenol Company 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.