Amphenol Corporation $APH Stock Position Lifted by Legacy Trust

Legacy Trust increased its holdings in shares of Amphenol Corporation (NYSE:APH) by 102.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 21,862 shares of the electronics maker’s stock after buying an additional 11,056 shares during the period. Legacy Trust’s holdings in Amphenol were worth $1,734,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vaquero Private Wealth Ltd. purchased a new position in Amphenol in the 2nd quarter valued at approximately $32,000. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Amphenol by 85.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 91 shares during the period. Tompkins Financial Corp increased its position in shares of Amphenol by 81.9% during the second quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 95 shares during the period. Wilkerson Advisory Group LLC increased its position in shares of Amphenol by 57.4% during the first quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 85 shares during the period. Finally, Elevation Wealth Partners LLC raised its stake in shares of Amphenol by 54.5% in the second quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker’s stock valued at $42,000 after acquiring an additional 85 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the firm’s stock in a transaction 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 sale, the chief executive officer directly owned 3,855,014 shares in the company, valued at $317,961,554.72. This trade represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup reiterated a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of Amphenol in a report on Thursday, October 29th. Truist Financial boosted their target price on Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. TD Cowen cut their price target on Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a report on Wednesday, September 9th. JPMorgan Chase & Co. increased their price target on Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Finally, Wall Street Zen raised Amphenol from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. 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. According to data from MarketBeat, Amphenol has an average rating of “Buy” and an average target price of $107.00.

Amphenol Trading Up 0.6%

NYSE 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 stock has a market capitalization of $197.07 billion, a PE ratio of 34.70, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. The firm has a 50 day moving average of $81.30 and a two-hundred day moving average of $75.60.

Amphenol (NYSE:APH) last announced its quarterly earnings data 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 business had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the business earned $0.93 EPS. The company’s revenue was up 65.1% on a year-over-year basis. As a group, research analysts expect that Amphenol Corporation will post 2.83 EPS for the current fiscal year.

Amphenol declared that its board has initiated 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 buy up to 2% of its stock through open market purchases. Share buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Amphenol Cuts Dividend

The firm also recently announced 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 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. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s dividend payout ratio is currently 21.74%.

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.