104,645 Amphenol Corporation $APH Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC raised its stake in Amphenol Corporation (NYSE:APH) by 74.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 245,256 shares of the electronics maker’s stock after acquiring an additional 104,645 shares during the period. Cornerstone Advisors LLC’s holdings in Amphenol were worth $20,675,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Purus Wealth Management LLC boosted its stake in Amphenol by 3.7% in 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 in the last quarter. Cornerstone Financial Management LLC increased its stake in Amphenol by 27.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 304 shares of the electronics maker’s stock valued at $54,000 after purchasing an additional 65 shares in the last quarter. Guardian Wealth Advisors LLC NC increased its stake in Amphenol by 0.5% during the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 14,211 shares of the electronics maker’s stock valued at $2,506,000 after purchasing an additional 72 shares in the last quarter. Knuff & Co LLC raised its holdings in Amphenol by 1.3% in the second 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 during the last quarter. Finally, Wilkerson Advisory Group LLC raised its holdings in Amphenol by 57.4% in the first quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker’s stock worth $29,000 after buying an additional 85 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Amphenol Stock Down 1.8%

APH opened at $78.15 on Friday. 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 Corporation has a 1-year low of $59.01 and a 1-year high of $89.93. The company has a market capitalization of $192.98 billion, a PE ratio of 33.98, a PEG ratio of 0.95 and a beta of 1.27. The firm’s 50 day simple moving average is $81.22 and its two-hundred day simple moving average is $75.57.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol’s revenue for the quarter was up 65.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.93 earnings per share. As a group, equities analysts forecast that Amphenol Corporation will post 2.83 EPS for the current year.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend 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 announced that its board has approved a share buyback plan on Wednesday, October 28th that allows the company to buy back $4 billion in shares. This buyback authorization allows the electronics maker to buy up to 2% of its shares through open market purchases. Share buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

APH has been the topic of several analyst reports. UBS Group upped their target price on shares of Amphenol from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. 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. 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. Weiss Ratings raised Amphenol from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday. Finally, Royal Bank Of Canada set a $100.00 target price on Amphenol in a research note on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, Amphenol has a consensus rating of “Buy” and an average target price of $107.00.

Insider Activity at Amphenol

In other news, CEO Richard Norwitt sold 799,576 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is owned by insiders.

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.