Amphenol Corporation $APH Stock: Rakuten Investment Management Inc. Boosts Stake

by · The Cerbat Gem

Rakuten Investment Management Inc. lifted its holdings in shares of Amphenol Corporation (NYSE:APH – Free Report) by 119.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 442,675 shares of the electronics maker’s stock after buying an additional 241,302 shares during the period. Rakuten Investment Management Inc.’s holdings in Amphenol were worth $37,335,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Pacific Excel Wealth Advisors Inc. bought a new position in Amphenol during the 2nd quarter worth $1,927,000. Evelyn Partners Investment Management Services Ltd grew its position in shares of Amphenol by 132.7% during the first quarter. Evelyn Partners Investment Management Services Ltd now owns 45,599 shares of the electronics maker’s stock worth $5,761,000 after acquiring an additional 26,000 shares during the last quarter. Gabelli Funds LLC grew its position in Amphenol by 29.3% in the 1st quarter. Gabelli Funds LLC now owns 193,939 shares of the electronics maker’s stock worth $24,504,000 after purchasing an additional 43,945 shares during the last quarter. Allen Capital Group LLC increased its position in Amphenol by 1,118.7% in the 1st quarter. Allen Capital Group LLC now owns 39,681 shares of the electronics maker’s stock valued at $5,014,000 after acquiring an additional 36,425 shares during the period. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Amphenol during the first quarter valued at about $5,637,000. Institutional investors own 97.01% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Richard Norwitt sold 799,576 shares of Amphenol stock in a transaction dated 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 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. Corporate insiders own 1.42% of the company’s stock.

Amphenol Price Performance

NYSE APH opened at $71.73 on Friday. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The business’s fifty day moving average is $81.42 and its two-hundred day moving average is $75.54. The stock has a market capitalization of $177.13 billion, a P/E ratio of 31.19, a P/E/G ratio of 0.94 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94.

Amphenol (NYSE:APH – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. The business had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The company’s revenue was up 65.1% compared to the same quarter last year. During the same period last year, the company posted $0.93 EPS. On average, research analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol announced that its board has initiated a share buyback plan on Wednesday, October 28th that permits the company to buy back $4 billion in outstanding shares. This buyback authorization permits the electronics maker to repurchase up to 2% of its shares through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Amphenol Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be given a $0.15 dividend. This is a negative change 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 dividend payout ratio is 21.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on APH shares. UBS Group increased their target price on shares of Amphenol from $105.00 to $111.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Wolfe Research started coverage on shares of Amphenol in a research report on Wednesday, September 30th. They set an “outperform” rating and a $105.00 price target on the stock. Weiss Ratings cut shares of Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a report on Friday, October 23rd. TD Cowen lowered their price objective on shares of Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, September 9th. Finally, Truist Financial raised their price objective 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. One 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. Based on data from MarketBeat.com, Amphenol has an average rating of “Buy” and a consensus price target of $108.32.

Get Our Latest Stock Report on APH

Amphenol 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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