12,594 Amphenol Corporation $APH Shares Acquired by 71 West Capital Partners

Key Points

• 71 West Capital Partners more than doubled its Amphenol stake in the third quarter, adding 12,594 shares to hold 24,535 shares valued at about $2.07 million. Institutional investors collectively own 97.01% of the stock.
• Amphenol beat quarterly estimates, reporting EPS of $0.80 and revenue of $10.23 billion; revenue rose 65.1% year over year.
• The company cut its quarterly dividend from $0.25 to $0.15 per share, while authorizing a $4 billion share-repurchase plan. Analysts’ average price target was $108.32, with an overall “Buy” rating.

71 West Capital Partners grew its position in Amphenol Corporation (NYSE:APH - Free Report) by 105.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,535 shares of the electronics maker's stock after purchasing an additional 12,594 shares during the quarter. 71 West Capital Partners' holdings in Amphenol were worth $2,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacific Excel Wealth Advisors Inc. purchased a new stake in shares of Amphenol in the second quarter worth about $1,927,000. Evelyn Partners Investment Management Services Ltd grew its holdings in Amphenol by 132.7% during the 1st quarter. Evelyn Partners Investment Management Services Ltd now owns 45,599 shares of the electronics maker's stock valued at $5,761,000 after buying an additional 26,000 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in Amphenol by 111.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 29,268 shares of the electronics maker's stock worth $2,168,000 after acquiring an additional 15,394 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Amphenol in the 1st quarter worth approximately $5,637,000. Finally, Allen Capital Group LLC raised its holdings in shares of Amphenol by 1,118.7% during the 1st quarter. Allen Capital Group LLC now owns 39,681 shares of the electronics maker's stock worth $5,014,000 after acquiring an additional 36,425 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Amphenol Trading Up 8.4%

APH stock opened at $80.89 on Tuesday. Amphenol Corporation has a twelve month low of $59.01 and a twelve month high of $89.93. The stock has a market capitalization of $199.74 billion, a price-to-earnings ratio of 31.73, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. 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 firm's fifty day simple moving average is $81.33 and its two-hundred day simple moving average is $75.55.

Amphenol (NYSE:APH - Get Free Report) last released its 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. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The firm had revenue of $10.23 billion during the quarter, compared to analyst estimates of $9.49 billion. During the same quarter last year, the business earned $0.93 EPS. The business's revenue was up 65.1% on a year-over-year basis. As a group, analysts anticipate that Amphenol Corporation will post 2.84 earnings per share 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 given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.7%. This is a negative change from Amphenol's previous quarterly dividend of $0.25. The ex-dividend date is Tuesday, December 22nd. Amphenol's dividend payout ratio is 21.74%.

Amphenol declared that its board has approved a share repurchase plan on Wednesday, October 28th that allows the company to buy back $4 billion in outstanding shares. This buyback authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Share buyback plans are generally an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group raised their target price on shares of Amphenol from $105.00 to $111.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Zacks Research upgraded shares of Amphenol from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 30th. Royal Bank Of Canada set a $100.00 price target on shares of Amphenol in a research note on Monday, October 26th. TD Cowen lowered 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. Finally, Rothschild & Co Redburn dropped their price objective on shares of Amphenol from $197.00 to $107.00 in a research note on Friday, October 30th. One investment 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. According to data from MarketBeat, Amphenol presently has an average rating of "Buy" and an average target price of $108.32.

Insiders Place Their Bets

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the business's stock in a transaction dated 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. The trade was a 17.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.42% of the stock is owned by insiders.

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.

Founded in 1932, Amphenol has grown into a global manufacturer serving customers across the Americas, Europe and Asia.

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