Parallel Advisors LLC Buys 26,096 Shares of Amphenol Corporation $APH
by Michael Walen · The Markets DailyParallel Advisors LLC grew its position in shares of Amphenol Corporation (NYSE:APH – Free Report) by 102.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,634 shares of the electronics maker’s stock after purchasing an additional 26,096 shares during the quarter. Parallel Advisors LLC’s holdings in Amphenol were worth $4,353,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Pacific Excel Wealth Advisors Inc. purchased a new position in shares of Amphenol during the second quarter valued at approximately $1,927,000. Evelyn Partners Investment Management Services Ltd raised its holdings 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 valued at $5,761,000 after acquiring an additional 26,000 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Amphenol by 29.3% in the first quarter. Gabelli Funds LLC now owns 193,939 shares of the electronics maker’s stock valued at $24,504,000 after acquiring an additional 43,945 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Amphenol in the first quarter valued at $5,637,000. Finally, Allen Capital Group LLC increased its position in Amphenol by 1,118.7% during the 1st quarter. Allen Capital Group LLC now owns 39,681 shares of the electronics maker’s stock valued at $5,014,000 after purchasing an additional 36,425 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In related news, CEO Richard Norwitt sold 799,576 shares of Amphenol stock in a transaction dated 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 completion of the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by insiders.
Analyst Ratings Changes
Several research analysts have commented on the stock. Barclays upped 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, November 2nd. JPMorgan Chase & Co. lifted their target price on shares of Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Royal Bank Of Canada set a $100.00 price target on shares of Amphenol in a research report on Monday, October 26th. Sanford C. Bernstein reissued an “outperform” rating and issued a $102.00 price target on shares of Amphenol in a research note on Monday, November 2nd. Finally, Citigroup reissued a “buy” rating and issued a $115.00 price target (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 issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Amphenol currently has a consensus rating of “Buy” and a consensus price target of $108.32.
View Our Latest Research Report on Amphenol
Amphenol Price Performance
Shares of APH stock opened at $74.67 on Friday. The stock has a market cap of $184.39 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 0.89 and a beta of 1.27. The business’s fifty day moving average is $81.29 and its 200 day moving average is $75.53. 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.
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, topping analysts’ consensus estimates of $0.73 by $0.07. The business had revenue of $10.23 billion during 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 firm’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.93 earnings per share. Research analysts expect that Amphenol Corporation will post 2.84 EPS for the current fiscal year.
Amphenol declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 28th that allows the company to repurchase $4 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 2% of its shares through open market purchases. Share buyback plans are generally a sign that the company’s board believes its stock is undervalued.
Amphenol Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, December 22nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. This is a drop from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s payout ratio is currently 26.09%.
About Amphenol
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.
Founded in 1932, Amphenol has grown into a global manufacturer serving customers across the Americas, Europe and Asia.
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