Keybank National Association OH Purchases 749,432 Shares of Amphenol Corporation $APH

by · The Cerbat Gem

Keybank National Association OH lifted its position in Amphenol Corporation (NYSE:APH – Free Report) by 91.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,567,708 shares of the electronics maker’s stock after buying an additional 749,432 shares during the period. Keybank National Association OH’s holdings in Amphenol were worth $132,158,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd boosted its stake in Amphenol by 85.0% during 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 during the period. Your Advocates Ltd. LLP grew its position in Amphenol by 100.0% during the third quarter. Your Advocates Ltd. LLP now owns 300 shares of the electronics maker’s stock worth $25,000 after buying an additional 150 shares in the last quarter. Retirement Wealth Solutions LLC increased its stake in Amphenol by 831.2% in the 3rd quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker’s stock worth $26,000 after acquiring an additional 266 shares during the last quarter. Sunrise Financial Services LLC increased its stake in Amphenol by 100.0% in the 3rd quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 162 shares during the last quarter. Finally, NFSG Corp bought a new position in Amphenol in the 3rd quarter worth about $28,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

APH has been the topic of several recent analyst reports. Weiss Ratings raised Amphenol from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday. Zacks Research raised Amphenol from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Bank of America upped their price objective on shares of Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a research report on Tuesday, October 13th. Rothschild & Co Redburn lowered their target price on shares of Amphenol from $197.00 to $107.00 in a research note on Friday, October 30th. Finally, Citigroup reaffirmed a “buy” rating and issued a $115.00 target price (up from $112.00) on shares of Amphenol in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Amphenol currently has a consensus rating of “Buy” and an average price target of $108.32.

Read Our Latest Stock Analysis on APH

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. This represents a 17.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.42% of the company’s stock.

Amphenol Stock Performance

NYSE APH opened at $79.98 on Wednesday. Amphenol Corporation has a 52-week low of $59.01 and a 52-week high of $89.93. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94. The company has a market capitalization of $197.50 billion, a P/E ratio of 34.77, a P/E/G ratio of 0.96 and a beta of 1.27. The company has a fifty day moving average of $81.34 and a 200-day moving average of $75.57.

Amphenol (NYSE:APH – Get Free Report) last announced its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. The company had revenue of $10.23 billion during 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 firm’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.93 earnings per share. As a group, equities research analysts predict that Amphenol Corporation will post 2.83 EPS for the current fiscal year.

Amphenol Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. This is a decrease from Amphenol’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s dividend payout ratio is presently 26.09%.

Amphenol announced that its board has authorized a share buyback program on Wednesday, October 28th that permits the company to repurchase $4 billion in outstanding shares. This repurchase authorization permits 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 shares are undervalued.

Amphenol Company Profile

(Free Report)

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.

Further Reading

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