Amphenol Corporation $APH Shares Bought by Parallel Advisors LLC

Parallel Advisors LLC raised its stake in shares of Amphenol Corporation (NYSE:APH) by 102.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,634 shares of the electronics maker’s stock after buying an additional 26,096 shares during the quarter. Parallel Advisors LLC’s holdings in Amphenol were worth $4,353,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Your Advocates Ltd. LLP increased its stake in Amphenol by 100.0% during the 3rd quarter. Your Advocates Ltd. LLP now owns 300 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 150 shares in the last quarter. United Advisor Group LLC raised its holdings in Amphenol by 199.9% in the third quarter. United Advisor Group LLC now owns 13,788 shares of the electronics maker’s stock worth $1,162,000 after buying an additional 9,191 shares during the last quarter. Plancorp LLC raised its holdings in Amphenol by 176.9% in the third quarter. Plancorp LLC now owns 4,245 shares of the electronics maker’s stock worth $337,000 after buying an additional 2,712 shares during the last quarter. May Hill Capital LLC lifted its stake in shares of Amphenol by 218.6% in the third quarter. May Hill Capital LLC now owns 4,426 shares of the electronics maker’s stock worth $373,000 after buying an additional 3,037 shares in the last quarter. Finally, LightSquare Wealth Management LLC lifted its stake in shares of Amphenol by 174.7% in the third quarter. LightSquare Wealth Management LLC now owns 5,422 shares of the electronics maker’s stock worth $457,000 after buying an additional 3,448 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on APH. BNP Paribas Exane increased their price target on shares of Amphenol from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Thursday, October 29th. Wolfe Research started coverage on shares of Amphenol in a report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price objective for the company. Citigroup reaffirmed a “buy” rating and issued a $115.00 price objective (up from $112.00) on shares of Amphenol in a research report on Thursday, October 29th. Barclays increased their target price on Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday, November 2nd. Finally, Zacks Research raised Amphenol from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. One investment 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. Based on data from MarketBeat, Amphenol presently has an average rating of “Buy” and a consensus price target of $108.32.

Insider Buying and Selling 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 value of $65,949,028.48. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. 1.42% of the stock is owned by insiders.

Amphenol Stock Performance

Shares of APH stock opened at $74.67 on Friday. The company has a 50 day moving average price of $81.29 and a 200-day moving average price of $75.53. Amphenol Corporation has a 52 week low of $59.01 and a 52 week high of $89.93. The firm has a market capitalization of $184.39 billion, a PE ratio of 32.47, a P/E/G ratio of 0.89 and a beta of 1.27. 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 (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 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 company had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The firm’s revenue for the quarter was up 65.1% compared to the same quarter last year. As a group, equities research analysts expect that Amphenol Corporation will post 2.84 earnings per share for the current year.

Amphenol Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s payout ratio is currently 26.09%.

Amphenol declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 28th that permits the company to buy back $4 billion in shares. This repurchase authorization permits the electronics maker to repurchase up to 2% of its shares through open market purchases. Share repurchase programs are generally an indication that the company’s board believes its stock is undervalued.

Amphenol Company 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.