Amphenol Corporation $APH Position Raised by IPG Investment Advisors LLC

by · The Cerbat Gem

IPG Investment Advisors LLC lifted its position in shares of Amphenol Corporation (NYSE:APH – Free Report) by 94.5% in the 3rd quarter, Holdings Channel reports. The fund owned 26,834 shares of the electronics maker’s stock after buying an additional 13,041 shares during the period. IPG Investment Advisors LLC’s holdings in Amphenol were worth $2,266,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. State Street Corp lifted its position in Amphenol by 24.2% in the 2nd 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 during the last quarter. Wellington Management Group LLP grew its position in Amphenol by 10.5% in the 2nd quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker’s stock worth $2,923,371,000 after purchasing an additional 1,578,248 shares during the last quarter. Corient Private Wealth LP grew its position in Amphenol by 3,010.0% in 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 purchasing an additional 15,908,901 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Amphenol by 4.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,703,604 shares of the electronics maker’s stock valued at $1,710,939,000 after purchasing an additional 416,388 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in shares of Amphenol in the second quarter valued at approximately $1,600,531,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insiders Place Their Bets

In other Amphenol 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 completion of the transaction, the chief executive officer directly owned 3,855,014 shares of the company’s stock, valued at approximately $317,961,554.72. This trade represents a 17.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.42% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on APH. TD Cowen reduced their price objective on Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, September 9th. UBS Group raised their target price on Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Erste Group Bank started coverage on Amphenol in a research report on Wednesday, October 21st. They issued a “buy” rating on the stock. Robert W. Baird cut their target price on Amphenol from $190.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Finally, Barclays boosted their price target on Amphenol from $100.00 to $111.00 and gave the stock an “overweight” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $108.32.

Read Our Latest Research Report on APH

Amphenol Stock Down 9.2%

APH stock opened at $71.73 on Friday. Amphenol Corporation has a 52 week low of $59.01 and a 52 week high of $89.93. The company has a market capitalization of $177.13 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. The firm’s 50-day moving average is $81.42 and its two-hundred day moving average is $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.

Amphenol (NYSE:APH – Get Free Report) last posted its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (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 business had revenue of $10.23 billion during the quarter, compared to analysts’ expectations of $9.49 billion. During the same period last year, the firm posted $0.93 earnings per share. The business’s revenue was up 65.1% on a year-over-year basis. On average, analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

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

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol’s payout ratio is currently 21.74%.

Amphenol Company Profile

(Free Report)

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.

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