70,005 Amphenol Corporation $APH Shares Purchased by Ritholtz Wealth Management

Ritholtz Wealth Management grew its stake in shares of Amphenol Corporation (NYSE:APH) by 206.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 103,847 shares of the electronics maker’s stock after acquiring an additional 70,005 shares during the period. Ritholtz Wealth Management’s holdings in Amphenol were worth $8,754,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Purus Wealth Management LLC increased its holdings in Amphenol by 3.7% during the 2nd quarter. Purus Wealth Management LLC now owns 1,801 shares of the electronics maker’s stock worth $318,000 after purchasing an additional 65 shares during the period. Cornerstone Financial Management LLC lifted its holdings in shares of Amphenol by 27.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 304 shares of the electronics maker’s stock worth $54,000 after buying an additional 65 shares during the period. Guardian Wealth Advisors LLC NC lifted its holdings in shares of Amphenol by 0.5% in the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 14,211 shares of the electronics maker’s stock worth $2,506,000 after buying an additional 72 shares during the period. Knuff & Co LLC grew its position in shares of Amphenol by 1.3% during the 2nd quarter. Knuff & Co LLC now owns 5,675 shares of the electronics maker’s stock worth $1,001,000 after buying an additional 75 shares in the last quarter. Finally, Wilkerson Advisory Group LLC grew its position in shares of Amphenol by 57.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock worth $29,000 after buying an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Amphenol Stock Down 0.8%

Shares of NYSE APH opened at $79.32 on Thursday. Amphenol Corporation has a 12-month low of $59.01 and a 12-month high of $89.93. The stock’s fifty day simple moving average is $81.30 and its two-hundred day simple moving average is $75.59. The stock has a market capitalization of $195.85 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. 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 issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The firm had revenue of $10.23 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period in the prior year, the business posted $0.93 EPS. The firm’s quarterly revenue was up 65.1% on a year-over-year basis. As a group, analysts expect that Amphenol Corporation will post 2.83 EPS for the current fiscal year.

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

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be issued a $0.15 dividend. This is a drop from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Tuesday, December 22nd. Amphenol’s dividend payout ratio is presently 21.74%.

Insider Buying and Selling

In other Amphenol 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 sale, the chief executive officer directly owned 3,855,014 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 1.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and issued a $116.00 price objective (up from $102.00) on shares of Amphenol in a report on Tuesday, October 6th. Citigroup reiterated a “buy” rating and set a $115.00 target price (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. Evercore set a $100.00 target price on shares of Amphenol in a research report on Wednesday, October 28th. Royal Bank Of Canada set a $100.00 price target on shares of Amphenol in a report on Monday, October 26th. Finally, Wolfe Research initiated coverage on shares of Amphenol in a research report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price target for the company. 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $107.00.

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.