Amphenol Corporation $APH Stock: New Mexico Educational Retirement Board Raises Holdings

New Mexico Educational Retirement Board boosted its position in shares of Amphenol Corporation (NYSE:APH) by 100.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,320 shares of the electronics maker’s stock after acquiring an additional 61,160 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Amphenol were worth $10,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. State Street Corp lifted its stake in Amphenol by 24.2% in the 2nd 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 increased its position in Amphenol by 10.5% during the second 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 increased its position in Amphenol by 3,010.0% during the second 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 raised its stake in Amphenol by 4.5% in the second 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 valued at $1,710,939,000 after buying an additional 416,388 shares during the period. Finally, Jupiter Topco LLC acquired a new stake in shares of Amphenol in the second quarter valued at approximately $1,600,531,000. Institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. The Goldman Sachs Group reiterated a “buy” rating and set a $116.00 target price (up from $102.00) on shares of Amphenol in a research note on Tuesday, October 6th. Robert W. Baird dropped their price target on Amphenol from $190.00 to $105.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 6th. Wall Street Zen upgraded Amphenol from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. JPMorgan Chase & Co. raised their price target on Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, October 29th. Finally, Truist Financial lifted their price objective on shares of Amphenol from $107.50 to $112.00 and gave the stock a “buy” rating in a research report on Thursday, October 29th. One 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, the company presently has an average rating of “Buy” and a consensus price target of $107.00.

Insider Activity at Amphenol

In other news, CEO Richard Norwitt sold 799,576 shares of Amphenol stock in a transaction that occurred on Monday, November 2nd. The shares were 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 in the company, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.42% of the company’s stock.

Amphenol Trading Down 0.8%

Shares of Amphenol stock opened at $79.32 on Thursday. 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 firm has a 50-day moving average of $81.30 and a 200-day moving average of $75.59. Amphenol Corporation has a 52-week low of $59.01 and a 52-week high of $89.93. The stock has a market cap of $195.85 billion, a PE ratio of 34.49, a PEG ratio of 0.95 and a beta of 1.27.

Amphenol (NYSE:APH) last released its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.07. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same period last year, the firm earned $0.93 earnings per share. Amphenol’s revenue for the quarter was up 65.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Amphenol Corporation will post 2.83 EPS for the current year.

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 issued a dividend of $0.15 per share. This is a drop from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. Amphenol’s payout ratio is 21.74%.

Amphenol announced that its Board of Directors has initiated a share buyback program on Wednesday, October 28th that authorizes the company to buy back $4 billion in outstanding shares. This buyback authorization authorizes the electronics maker to purchase up to 2% of its shares through open market purchases. Share buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.