Amphenol Corporation $APH Shares Acquired by Renasant Bank

Renasant Bank lifted its holdings in Amphenol Corporation (NYSE:APH) by 93.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,865 shares of the electronics maker’s stock after purchasing an additional 9,611 shares during the quarter. Amphenol accounts for about 1.1% of Renasant Bank’s investment portfolio, making the stock its 27th biggest holding. Renasant Bank’s holdings in Amphenol were worth $1,675,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Pacific Excel Wealth Advisors Inc. bought a new stake in shares of Amphenol during the 2nd quarter valued at about $1,927,000. Chicago Partners Investment Group LLC increased its position in shares of Amphenol by 111.0% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 29,268 shares of the electronics maker’s stock valued at $2,168,000 after purchasing an additional 15,394 shares during the last quarter. Evelyn Partners Investment Management Services Ltd lifted its stake in shares of Amphenol by 132.7% in the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 45,599 shares of the electronics maker’s stock worth $5,761,000 after purchasing an additional 26,000 shares during the period. Gabelli Funds LLC lifted its stake in shares of Amphenol by 29.3% in the 1st quarter. Gabelli Funds LLC now owns 193,939 shares of the electronics maker’s stock worth $24,504,000 after purchasing an additional 43,945 shares during the period. Finally, Allen Capital Group LLC boosted its holdings in shares of Amphenol by 1,118.7% in the first quarter. Allen Capital Group LLC now owns 39,681 shares of the electronics maker’s stock worth $5,014,000 after buying an additional 36,425 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

APH has been the subject of several recent research reports. Evercore set a $100.00 target price on shares of Amphenol in a research report on Wednesday, October 28th. Robert W. Baird reduced their target price on shares of Amphenol from $190.00 to $105.00 and set an “outperform” rating for the company in a report on Tuesday, October 6th. TD Cowen decreased their price target on shares of Amphenol from $175.00 to $90.00 and set a “hold” rating on the stock in a research report on Wednesday, September 9th. Bank of America lifted their price target on shares of Amphenol from $99.00 to $104.00 and gave the stock a “buy” rating in a research note on Tuesday, October 13th. Finally, Zacks Research raised shares of Amphenol from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 30th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $108.32.

Amphenol Stock Down 0.9%

APH stock opened at $79.98 on Wednesday. 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. The stock has a market cap of $197.50 billion, a P/E ratio of 34.77, a PEG ratio of 0.96 and a beta of 1.27. The business’s 50-day moving average price is $81.34 and its 200-day moving average price is $75.57.

Amphenol (NYSE:APH) last announced its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.07. The company 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 revenue was up 65.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. On average, equities research analysts forecast that Amphenol Corporation will post 2.83 EPS for the current 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 given a $0.15 dividend. The ex-dividend date is Tuesday, December 22nd. This is a decrease from Amphenol’s previous quarterly dividend of $0.25. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Amphenol’s dividend payout ratio (DPR) is currently 26.09%.

Amphenol declared that its Board of Directors has authorized a stock repurchase program on Wednesday, October 28th that permits the company to repurchase $4 billion in outstanding shares. This repurchase authorization permits the electronics maker to repurchase up to 2% of its stock through open market purchases. Share repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Amphenol

In other news, CEO Richard Norwitt sold 799,576 shares of the stock in a transaction 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 of the company’s stock, valued at $317,961,554.72. This represents a 17.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is currently owned by insiders.

Amphenol 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.