Amphenol Corporation $APH Stock Position Boosted by Fischer Financial Services Inc.

Fischer Financial Services Inc. grew its position in shares of Amphenol Corporation (NYSE:APH) by 96.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,633 shares of the electronics maker’s stock after purchasing an additional 10,594 shares during the quarter. Fischer Financial Services Inc.’s holdings in Amphenol were worth $1,824,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. State Street Corp boosted its stake in 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 buying an additional 13,884,641 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 1,578,248 shares in the last quarter. Corient Private Wealth LP raised its stake 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 acquiring an additional 15,908,901 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Amphenol by 4.5% in the 2nd 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 worth $1,710,939,000 after acquiring an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC purchased a new stake in shares of Amphenol in the 2nd quarter valued at $1,600,531,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Down 9.2%

NYSE APH opened at $71.73 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42. The stock has a market capitalization of $177.13 billion, a PE ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The business’s 50-day moving average is $81.42 and its 200 day moving average is $75.54.

Amphenol (NYSE:APH) last issued its quarterly earnings data on Wednesday, October 28th. The electronics maker reported $0.80 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $9.49 billion. During the same period in the prior year, the business earned $0.93 EPS. The company’s revenue for the quarter was up 65.1% on a year-over-year basis. Sell-side analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current year.

Amphenol Cuts Dividend

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

Amphenol announced that its Board of Directors has authorized a stock buyback program on Wednesday, October 28th that permits the company to buy back $4 billion in shares. This repurchase authorization permits the electronics maker to reacquire up to 2% of its shares through open market purchases. Share repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have issued reports on APH shares. JPMorgan Chase & Co. upped their price target on shares of Amphenol from $107.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, October 29th. Barclays boosted their target price on Amphenol from $100.00 to $111.00 and gave the company an “overweight” rating in a research note on Monday. Zacks Research upgraded Amphenol from a “hold” rating to a “strong-buy” rating in a report on Friday, October 30th. Erste Group Bank started coverage on Amphenol in a research report on Wednesday, October 21st. They set a “buy” rating on the stock. Finally, UBS Group lifted their price target on Amphenol from $105.00 to $111.00 and gave the stock a “buy” rating in a research note on Thursday, October 29th. One investment 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. Based on data from MarketBeat, Amphenol currently has an average rating of “Buy” and a consensus price target of $108.32.

Insiders Place Their Bets

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $82.48, for a total transaction of $65,949,028.48. Following the transaction, the chief executive officer owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. This represents a 17.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.42% of the company’s stock.

About Amphenol

Amphenol Corporation (NYSE: APH) is a global manufacturer of electrical, electronic and fiber-optic connectors, interconnect systems and related products. Its portfolio includes cable assemblies, sensors, antennas, backplane systems, radio-frequency components and other specialized electronic hardware.

The company serves customers across a range of industries, including automotive, aerospace and defense, information technology and data communications, industrial, mobile networks, commercial aerospace, medical and other markets.