Amphenol Corporation $APH Shares Bought by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its position in shares of Amphenol Corporation (NYSE:APH) by 129.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,225 shares of the electronics maker’s stock after purchasing an additional 84,642 shares during the period. Maryland State Retirement & Pension System’s holdings in Amphenol were worth $12,664,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in APH. Cabot Wealth Management Inc. lifted its position in shares of Amphenol by 107.8% during the 3rd quarter. Cabot Wealth Management Inc. now owns 295,926 shares of the electronics maker’s stock worth $24,947,000 after buying an additional 153,498 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Amphenol by 206.9% in the 3rd quarter. Ritholtz Wealth Management now owns 103,847 shares of the electronics maker’s stock worth $8,754,000 after buying an additional 70,005 shares during the last quarter. UNIVEST FINANCIAL Corp purchased a new position in shares of Amphenol in the 3rd quarter worth approximately $11,017,000. NBH Bank grew its holdings in shares of Amphenol by 718.3% in the third quarter. NBH Bank now owns 982 shares of the electronics maker’s stock valued at $83,000 after acquiring an additional 862 shares in the last quarter. Finally, Joel Isaacson & Co. LLC grew its holdings in shares of Amphenol by 118.2% in the third quarter. Joel Isaacson & Co. LLC now owns 2,848 shares of the electronics maker’s stock valued at $240,000 after acquiring an additional 1,543 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the firm’s stock in a transaction on 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 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 through this link. Company insiders own 1.42% of the company’s stock.

Amphenol Stock Down 0.8%

APH opened at $79.32 on Thursday. 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 stock has a market cap of $195.85 billion, a price-to-earnings ratio of 34.49, a PEG ratio of 0.95 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’s 50-day moving average price is $81.30 and its two-hundred day moving average price is $75.59.

Amphenol (NYSE:APH) last issued its quarterly 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%. Amphenol’s quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.93 EPS. As a group, equities analysts expect that Amphenol Corporation will post 2.83 earnings per share for the current year.

Amphenol declared that its Board of Directors has approved a share repurchase 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 stock through open market purchases. Share buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.8%. This is a negative change 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 currently 21.74%.

Analysts Set New Price Targets

A number of analysts recently commented on APH shares. Evercore set a $100.00 price target on Amphenol in a research report on Wednesday, October 28th. The Goldman Sachs Group reissued a “buy” rating and issued a $116.00 price objective (up from $102.00) on shares of Amphenol in a research report on Tuesday, October 6th. Erste Group Bank initiated coverage on Amphenol in a research note on Wednesday, October 21st. They issued a “buy” rating for the company. Truist Financial raised their target price on Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research report on Thursday, October 29th. Finally, Royal Bank Of Canada set a $100.00 target price on Amphenol in a research report on Monday, October 26th. One 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $107.00.

Amphenol Company Profile

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.