Amphenol Corporation $APH Stock Bought by Fischer Financial Services Inc.

by · The Cerbat Gem

Fischer Financial Services Inc. increased its holdings in shares of Amphenol Corporation (NYSE:APH – Free Report) by 96.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,633 shares of the electronics maker’s stock after acquiring an additional 10,594 shares during the period. Fischer Financial Services Inc.’s holdings in Amphenol were worth $1,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of APH. State Street Corp lifted 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 purchasing an additional 13,884,641 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of 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 buying an additional 1,578,248 shares during the last quarter. Corient Private Wealth LP grew its stake in shares of 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 buying an additional 15,908,901 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Amphenol by 4.5% in the 2nd 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 worth $1,710,939,000 after buying an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in Amphenol during the 2nd quarter valued at approximately $1,600,531,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on APH. TD Cowen lowered their price objective on Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a research note on Wednesday, September 9th. Truist Financial increased their target price on Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. Erste Group Bank started coverage on Amphenol in a report on Wednesday, October 21st. They set a “buy” rating for the company. Bank of America lifted their price target on Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings cut shares of Amphenol from a “buy (a-)” rating to a “buy (b)” rating in a research note on Friday, October 23rd. One 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.com, Amphenol has an average rating of “Buy” and a consensus price target of $108.32.

Check Out Our Latest Stock Analysis on Amphenol

Insider Activity at Amphenol

In related 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 sale, the chief executive officer directly owned 3,855,014 shares of the company’s stock, 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 filing with the SEC, which is available at the SEC website. 1.42% of the stock is owned by company insiders.

Amphenol Price Performance

Shares of NYSE APH opened at $71.73 on Friday. The firm has a market cap of $177.13 billion, a P/E ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a twelve month low of $59.01 and a twelve month high of $89.93. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The company has a 50 day moving average of $81.42 and a 200 day moving average of $75.54.

Amphenol (NYSE:APH – Get Free Report) last issued 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. The business had revenue of $10.23 billion for the quarter, compared to the consensus estimate 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 business posted $0.93 EPS. As a group, research analysts expect that Amphenol Corporation will post 2.84 EPS for the current fiscal year.

Amphenol Cuts Dividend

The firm 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. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a decrease 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 is currently 21.74%.

Amphenol declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 28th that authorizes the company to buy back $4 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 2% of its shares through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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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