Amphenol Corporation $APH Stock Holdings Boosted by TrinityBridge Ltd

TrinityBridge Ltd lifted its holdings in shares of Amphenol Corporation (NYSE:APH) by 30.8% in the third quarter, Holdings Channel.com reports. The fund owned 1,059,709 shares of the electronics maker’s stock after purchasing an additional 249,398 shares during the quarter. Amphenol accounts for approximately 2.6% of TrinityBridge Ltd’s portfolio, making the stock its 11th largest position. TrinityBridge Ltd’s holdings in Amphenol were worth $89,376,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Corient Private Wealth LP raised its position in 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 worth $2,898,248,000 after purchasing an additional 15,908,901 shares in the last quarter. State Street Corp boosted 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 valued at $12,107,146,000 after purchasing an additional 13,884,641 shares in the last quarter. Jupiter Topco LLC bought a new stake in shares of Amphenol in the 2nd quarter valued at approximately $1,600,531,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Amphenol by 90.9% in the 3rd 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, Bank Julius Baer & Co. Ltd Zurich raised its holdings in shares of Amphenol by 101.6% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,720,515 shares of the electronics maker’s stock worth $313,497,000 after buying an additional 1,874,988 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Amphenol Stock Performance

NYSE APH opened at $71.73 on Friday. Amphenol Corporation has a 1-year low of $59.01 and a 1-year high of $89.93. The company has a 50 day moving average of $81.42 and a 200-day moving average of $75.54. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99. The firm has a market cap of $177.13 billion, a price-to-earnings ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27.

Amphenol (NYSE:APH) last announced its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol’s revenue was up 65.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 EPS. On average, equities analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a $0.15 dividend. 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 yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s payout ratio is presently 21.74%.

Amphenol announced that its Board of Directors has approved a share repurchase program on Wednesday, October 28th that authorizes the company to buy back $4 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on APH. The Goldman Sachs Group restated a “buy” rating and set a $116.00 target price (up from $102.00) on shares of Amphenol in a research report on Tuesday, October 6th. Zacks Research upgraded Amphenol from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 30th. JPMorgan Chase & Co. increased their price objective on Amphenol from $107.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Truist Financial lifted their price objective on Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a report on Thursday, October 29th. Finally, Weiss Ratings downgraded shares of Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $108.32.

Insider Activity at Amphenol

In other news, CEO Richard Norwitt sold 799,576 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $82.48, for a total transaction of $65,949,028.48. Following the sale, the chief executive officer owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. This represents a 17.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.42% of the company’s stock.

About Amphenol

Amphenol Corporation (NYSE: APH) is a global manufacturer of electrical, electronic and fiber-optic connectors, interconnect systems and related products. Its portfolio includes cable assemblies, sensors, antennas, backplane systems, radio-frequency components and other specialized electronic hardware.

The company serves customers across a range of industries, including automotive, aerospace and defense, information technology and data communications, industrial, mobile networks, commercial aerospace, medical and other markets.