Russell Investments Group Ltd. Purchases 2,401,550 Shares of Amphenol Corporation $APH

Russell Investments Group Ltd. raised its position in Amphenol Corporation (NYSE:APH) by 116.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,465,041 shares of the electronics maker’s stock after acquiring an additional 2,401,550 shares during the period. Russell Investments Group Ltd. owned approximately 0.18% of Amphenol worth $376,413,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of APH. Ariadne Wealth Management LP grew its position in Amphenol by 101.5% in the 3rd quarter. Ariadne Wealth Management LP now owns 4,080 shares of the electronics maker’s stock valued at $344,000 after purchasing an additional 2,055 shares during the period. IAG Wealth Partners LLC increased its stake in Amphenol by 100.0% during the 3rd quarter. IAG Wealth Partners LLC now owns 428 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 214 shares in the last quarter. Tortoise Investment Management LLC raised its holdings in Amphenol by 120.8% during the third quarter. Tortoise Investment Management LLC now owns 3,604 shares of the electronics maker’s stock worth $304,000 after buying an additional 1,972 shares during the last quarter. Eurizon Capital SGR S.p.A. raised its holdings in Amphenol by 135.9% during the third quarter. Eurizon Capital SGR S.p.A. now owns 560,817 shares of the electronics maker’s stock worth $47,283,000 after buying an additional 323,043 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management bought a new position in shares of Amphenol in the third quarter valued at $202,000. Institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the business’s 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 transaction, the chief executive officer directly owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.42% of the stock is owned by insiders.

Amphenol Trading Up 0.6%

NYSE APH opened at $79.81 on Friday. The firm has a market capitalization of $197.07 billion, a P/E ratio of 34.70, a PEG ratio of 0.94 and a beta of 1.27. The business has a fifty day simple moving average of $81.30 and a 200 day simple moving average of $75.60. Amphenol Corporation has a 12 month low of $59.01 and a 12 month high of $89.93. 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, beating the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The business’s revenue was up 65.1% on a year-over-year basis. During the same period last year, the business earned $0.93 EPS. On average, analysts predict that Amphenol Corporation will post 2.83 EPS for the current fiscal year.

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

Amphenol Cuts Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on APH. Robert W. Baird reduced their price objective on shares of Amphenol from $190.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. JPMorgan Chase & Co. upped their target price on shares of Amphenol from $107.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Evercore set a $100.00 price target on shares of Amphenol in a research report on Wednesday, October 28th. Barclays raised their price target on shares of Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Monday, November 2nd. Finally, TD Cowen cut their price target on Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, September 9th. One 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. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus 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.