Amphenol Corporation $APH Holdings Raised by CenterBook Partners LP

CenterBook Partners LP increased its stake in Amphenol Corporation (NYSE:APH) by 650.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,964 shares of the electronics maker’s stock after buying an additional 32,041 shares during the quarter. CenterBook Partners LP’s holdings in Amphenol were worth $3,116,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Corient Private Wealth LP raised its position in shares of Amphenol by 3,010.0% during the 2nd quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker’s stock worth $2,898,248,000 after buying an additional 15,908,901 shares in the last quarter. State Street Corp lifted its stake in shares of Amphenol by 24.2% in the 2nd quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after acquiring an additional 13,884,641 shares during the period. Jupiter Topco LLC bought a new position in shares of Amphenol in the second quarter valued at approximately $1,600,531,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of 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 acquiring an additional 3,761,224 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Amphenol by 101.6% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,720,515 shares of the electronics maker’s stock valued at $313,497,000 after acquiring an additional 1,874,988 shares during the period. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Wolfe Research assumed coverage on Amphenol in a report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 target price on the stock. Royal Bank Of Canada set a $100.00 target price on Amphenol in a research report on Monday, October 26th. Bank of America increased their price target on Amphenol from $99.00 to $104.00 and gave the company a “buy” rating in a research note on Tuesday, October 13th. TD Cowen lowered their price target on Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, September 9th. Finally, Evercore set a $100.00 price objective on Amphenol in a research note on Wednesday, October 28th. 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 stock. Based on data from MarketBeat.com, Amphenol presently has a consensus rating of “Buy” and a consensus target price of $108.32.

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 stock was 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 of the company’s stock, valued at $317,961,554.72. This trade represents a 17.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.42% of the company’s stock.

Amphenol Stock Up 4.2%

NYSE APH opened at $74.67 on Friday. Amphenol Corporation has a 12 month low of $59.01 and a 12 month high of $89.93. The company has a market capitalization of $184.39 billion, a P/E ratio of 32.47, a PEG ratio of 0.89 and a beta of 1.27. The company’s 50 day simple moving average is $81.29 and its 200 day simple moving average is $75.53. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42.

Amphenol (NYSE:APH) last issued its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $10.23 billion during the quarter, compared to analysts’ expectations of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The firm’s revenue for the quarter was up 65.1% compared to the same quarter last year. During the same period last year, the firm posted $0.93 earnings per share. Equities research analysts expect that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 28th that authorizes the company to repurchase $4 billion in shares. This buyback authorization authorizes the electronics maker to reacquire up to 2% of its shares through open market purchases. Share buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Amphenol Cuts Dividend

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

Founded in 1932, Amphenol has grown into a global manufacturer serving customers across the Americas, Europe and Asia.