11,314 Amphenol Corporation $APH Shares Purchased by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC boosted its position in Amphenol Corporation (NYSE:APH) by 139.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,441 shares of the electronics maker’s stock after buying an additional 11,314 shares during the period. Cornerstone Wealth Management LLC’s holdings in Amphenol were worth $1,639,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Corient Private Wealth LP boosted its holdings 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 valued at $2,898,248,000 after acquiring an additional 15,908,901 shares in the last quarter. State Street Corp raised its holdings in Amphenol by 24.2% during the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after purchasing an additional 13,884,641 shares in the last quarter. Jupiter Topco LLC purchased a new position in Amphenol during the second quarter worth about $1,600,531,000. Sumitomo Mitsui Trust Group Inc. lifted its position in Amphenol by 90.9% in 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 purchasing an additional 3,761,224 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its position in Amphenol by 132.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 3,610,411 shares of the electronics maker’s stock valued at $309,304,000 after purchasing an additional 2,054,660 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of Amphenol stock in a transaction that occurred on 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 in the company, valued at approximately $317,961,554.72. This trade represents a 17.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.42% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wolfe Research assumed coverage on Amphenol in a report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price objective on the stock. Zacks Research raised Amphenol from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. Rothschild & Co Redburn reduced their price target on Amphenol from $197.00 to $107.00 in a report on Friday, October 30th. Erste Group Bank initiated coverage on Amphenol in a research note on Wednesday, October 21st. They issued a “buy” rating on the stock. Finally, Bank of America upped their price objective on Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $107.00.

Amphenol Stock Performance

Shares of APH opened at $79.81 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 52-week low of $59.01 and a 52-week high of $89.93. The company has a 50-day simple moving average of $81.30 and a 200-day simple moving average of $75.60. The company has a market capitalization of $197.07 billion, a PE ratio of 31.85, a P/E/G ratio of 0.94 and a beta of 1.27.

Amphenol (NYSE:APH) last released its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 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 firm had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the previous year, the firm earned $0.93 earnings per share. The firm’s revenue was up 65.1% on a year-over-year basis. Equities research analysts predict that Amphenol Corporation will post 2.83 earnings per share for the current fiscal year.

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

Amphenol Cuts Dividend

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

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.