Amphenol Corporation $APH Stock: Ibex Wealth Advisors Increases Stake

Ibex Wealth Advisors raised its holdings in Amphenol Corporation (NYSE:APH) by 110.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 134,790 shares of the electronics maker’s stock after buying an additional 70,728 shares during the quarter. Ibex Wealth Advisors’ holdings in Amphenol were worth $11,363,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Corient Private Wealth LP lifted its holdings in shares of 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. State Street Corp grew its stake in shares of Amphenol by 24.2% in the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker’s stock worth $12,107,146,000 after acquiring an additional 13,884,641 shares during the last quarter. Jupiter Topco LLC acquired a new stake in shares of Amphenol in the second quarter worth $1,600,531,000. Sumitomo Mitsui Trust Group Inc. increased its position in Amphenol by 90.9% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 7,900,956 shares of the electronics maker’s stock worth $666,051,000 after acquiring an additional 3,761,224 shares during the period. Finally, Russell Investments Group Ltd. increased its position in Amphenol by 116.4% during the third quarter. Russell Investments Group Ltd. now owns 4,465,041 shares of the electronics maker’s stock worth $376,413,000 after acquiring an additional 2,401,550 shares during the period. 97.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

APH has been the subject of a number of research reports. Wolfe Research started coverage on shares of Amphenol in a report on Wednesday, September 30th. They issued an “outperform” rating and a $105.00 price target for the company. UBS Group boosted their price objective on shares of Amphenol from $105.00 to $111.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. TD Cowen cut their price objective on shares of Amphenol from $175.00 to $90.00 and set a “hold” rating for the company in a research report on Wednesday, September 9th. Royal Bank Of Canada set a $100.00 price objective on shares of Amphenol in a research report on Monday, October 26th. Finally, Truist Financial increased their target price on shares of Amphenol from $107.50 to $112.00 and gave the company a “buy” rating in a research note on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $107.00.

Amphenol Stock Performance

Shares of NYSE APH traded down $1.47 during trading hours on Friday, reaching $78.15. The stock had a trading volume of 9,580,870 shares, compared to its average volume of 15,824,595. The company has a market cap of $192.98 billion, a price-to-earnings ratio of 33.98, 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 business’s fifty day moving average is $81.22 and its two-hundred day moving average is $75.57. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42.

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

Amphenol Cuts Dividend

The firm also recently disclosed 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 represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, December 22nd. This is a negative change from Amphenol’s previous quarterly dividend of $0.25. Amphenol’s payout ratio is 21.74%.

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

Insider Buying and Selling at Amphenol

In other 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.42% of the company’s stock.

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.