Amphenol Corporation $APH Stock: Davis Investment Partners LLC Raises Holdings

Davis Investment Partners LLC lifted its position in Amphenol Corporation (NYSE:APH) by 100.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 117,352 shares of the electronics maker’s stock after purchasing an additional 58,688 shares during the quarter. Amphenol accounts for approximately 3.1% of Davis Investment Partners LLC’s holdings, making the stock its 5th biggest holding. Davis Investment Partners LLC’s holdings in Amphenol were worth $9,893,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in APH. Vaquero Private Wealth Ltd. bought a new position in Amphenol during the 2nd quarter valued at about $32,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Amphenol by 85.0% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker’s stock valued at $25,000 after buying an additional 91 shares in the last quarter. Tompkins Financial Corp grew its stake in Amphenol by 81.9% during the second quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker’s stock worth $37,000 after buying an additional 95 shares during the last quarter. Wilkerson Advisory Group LLC grew its stake in Amphenol by 57.4% during 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. Finally, Elevation Wealth Partners LLC increased its holdings in shares of Amphenol by 54.5% during the second quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker’s stock worth $42,000 after buying an additional 85 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $317,961,554.72. This represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.42% of the company’s stock.

Amphenol Stock Down 0.9%

Shares of NYSE APH opened at $79.98 on Wednesday. The firm’s 50-day simple moving average is $81.34 and its 200 day simple moving average is $75.57. The company has a market cap of $197.50 billion, a price-to-earnings ratio of 34.77, a price-to-earnings-growth ratio of 0.96 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 Corporation has a 12-month low of $59.01 and a 12-month high of $89.93.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. The firm had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The company’s revenue was up 65.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.93 EPS. On average, research analysts expect that Amphenol Corporation will post 2.83 earnings per share for the current fiscal year.

Amphenol declared that its board has authorized a stock repurchase program on Wednesday, October 28th that authorizes the company to repurchase $4 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Amphenol Cuts Dividend

The business also recently announced 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. The ex-dividend date is Tuesday, December 22nd. This is a negative change 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 dividend payout ratio (DPR) is currently 21.74%.

Analysts Set New Price Targets

APH has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Amphenol from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Bank of America boosted their target price on Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Erste Group Bank began coverage on Amphenol in a research report on Wednesday, October 21st. They set a “buy” rating on the stock. Royal Bank Of Canada set a $100.00 price target on Amphenol in a report on Monday, October 26th. Finally, Robert W. Baird cut their price objective on Amphenol from $190.00 to $105.00 and set an “outperform” rating for the company in a research report on Tuesday, October 6th. One equities research 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. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $108.32.

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.