151,944 Amphenol Corporation $APH Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund boosted its stake in shares of Amphenol Corporation (NYSE:APH) by 100.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 303,154 shares of the electronics maker’s stock after purchasing an additional 151,944 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Amphenol were worth $25,556,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Corient Private Wealth LP increased 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 buying an additional 15,908,901 shares during the period. State Street Corp boosted its holdings in shares of 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 acquiring an additional 13,884,641 shares during the period. Jupiter Topco LLC acquired a new position in shares of Amphenol during the second quarter valued at $1,600,531,000. Sumitomo Mitsui Trust Group Inc. grew its position in shares of Amphenol by 90.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock worth $666,051,000 after acquiring an additional 3,761,224 shares during the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich grew its position 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 worth $313,497,000 after acquiring an additional 1,874,988 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Insider Activity at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the firm’s 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 transaction, the chief executive officer owned 3,855,014 shares in the company, valued at $317,961,554.72. This trade represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

APH has been the topic of a number of analyst reports. Barclays increased their price objective on shares of Amphenol from $100.00 to $111.00 and gave the stock an “overweight” rating in a report on Monday. Truist Financial boosted their target price on shares of Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. Wall Street Zen upgraded shares of Amphenol from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. The Goldman Sachs Group restated a “buy” rating and issued a $116.00 price target (up from $102.00) on shares of Amphenol in a research note on Tuesday, October 6th. Finally, Zacks Research raised Amphenol from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Amphenol currently has a consensus rating of “Buy” and a consensus target price of $108.32.

Amphenol Stock Performance

APH stock opened at $71.73 on Friday. The company has a 50-day simple moving average of $81.42 and a 200 day simple moving average of $75.54. The company has a market capitalization of $177.13 billion, a P/E ratio of 31.19, a PEG ratio of 0.94 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 fifty-two week low of $59.01 and a fifty-two week high of $89.93.

Amphenol (NYSE:APH) last released its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, beating the consensus estimate of $0.73 by $0.07. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The firm had revenue of $10.23 billion for the quarter, compared to analysts’ expectations of $9.49 billion. During the same quarter last year, the company earned $0.93 EPS. Amphenol’s quarterly revenue was up 65.1% on a year-over-year basis. Sell-side analysts predict that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 28th that permits the company to buy back $4 billion in shares. This buyback authorization permits the electronics maker to buy up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s leadership believes its shares are 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 issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a drop from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol’s payout ratio is 21.74%.

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.