15,394 Amphenol Corporation $APH Shares Acquired by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners increased its Amphenol stake 111% in the third quarter, adding 15,394 shares to bring its holding to 29,268 shares, worth about $2.17 million. Institutional investors and hedge funds own 97.01% of the stock.
• Amphenol beat quarterly earnings and revenue estimates, reporting EPS of $0.80 and revenue of $10.23 billion, up 65.1% year over year. Analysts’ consensus rating was “Buy,” with an average price target of $108.32.
• The company authorized a $4 billion share-repurchase plan, while lowering its quarterly dividend from $0.25 to $0.15 per share. CEO Richard Norwitt also sold 799,576 shares for about $65.9 million.

Chicago Partners Investment Group LLC boosted its stake in shares of Amphenol Corporation (NYSE:APH - Free Report) by 111.0% 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 29,268 shares of the electronics maker's stock after purchasing an additional 15,394 shares during the quarter. Chicago Partners Investment Group LLC's holdings in Amphenol were worth $2,168,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of APH. Clal Insurance Enterprises Holdings Ltd raised its holdings in Amphenol by 85.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker's stock valued at $25,000 after acquiring an additional 91 shares during the period. Retirement Wealth Solutions LLC increased its stake in shares of Amphenol by 831.2% during the third quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker's stock worth $26,000 after purchasing an additional 266 shares during the period. Sunrise Financial Services LLC increased its stake in shares of Amphenol by 100.0% during the third quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker's stock worth $27,000 after purchasing an additional 162 shares during the period. NFSG Corp acquired a new stake in Amphenol during the 3rd quarter worth approximately $28,000. Finally, Wilkerson Advisory Group LLC lifted its holdings in Amphenol by 57.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker's stock worth $29,000 after purchasing an additional 85 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen reduced their price target on Amphenol from $175.00 to $90.00 and set a "hold" rating for the company in a research note on Wednesday, September 9th. UBS Group increased their price objective on Amphenol from $105.00 to $111.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. Evercore set a $100.00 price objective on Amphenol in a research report on Wednesday, October 28th. Royal Bank Of Canada set a $100.00 target price on shares of Amphenol in a research report on Monday, October 26th. Finally, JPMorgan Chase & Co. boosted their target price 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. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $108.32.

Insider Transactions at Amphenol

In other news, CEO Richard Norwitt sold 799,576 shares of the business's stock in a transaction 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 completion of the transaction, the chief executive officer owned 3,855,014 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 1.42% of the stock is owned by company insiders.

Amphenol Stock Performance

APH opened at $74.67 on Friday. The firm has a market cap of $184.39 billion, a P/E ratio of 32.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. Amphenol Corporation has a 52-week low of $59.01 and a 52-week high of $89.93. 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 business's fifty day moving average is $81.29 and its 200-day moving average is $75.53.

Amphenol (NYSE:APH - Get Free Report) last issued 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. The company had revenue of $10.23 billion for the quarter, compared to analysts' expectations of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. Amphenol's revenue was up 65.1% on a year-over-year basis. During the same quarter last year, the business earned $0.93 earnings per share. Sell-side analysts expect that Amphenol Corporation will post 2.84 EPS for the current fiscal year.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. This is a negative change from Amphenol's previous quarterly dividend of $0.25. 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 stock repurchase plan on Wednesday, October 28th that authorizes the company to buy back $4 billion in shares. This buyback authorization authorizes the electronics maker to purchase up to 2% of its stock through open market purchases. Share buyback plans are often 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.

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

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