18,986 Amphenol Corporation $APH Shares Acquired by Alamar Capital Management LLC

Key Points

• Alamar Capital increased its Amphenol stake by 96.2% in the third quarter, buying 18,986 shares to reach 38,727 shares valued at $3.27 million.
• Amphenol beat quarterly earnings and revenue expectations, reporting EPS of $0.80 and revenue of $10.23 billion; analysts’ average rating is “Buy,” with an average price target of $108.32.
• The company authorized a $4 billion share-repurchase plan but cut its quarterly dividend from $0.25 to $0.15 per share. CEO Richard Norwitt also sold 799,576 shares.

Alamar Capital Management LLC increased its stake in Amphenol Corporation (NYSE:APH - Free Report) by 96.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,727 shares of the electronics maker's stock after purchasing an additional 18,986 shares during the period. Amphenol makes up 1.7% of Alamar Capital Management LLC's holdings, making the stock its 13th largest position. Alamar Capital Management LLC's holdings in Amphenol were worth $3,269,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of APH. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Amphenol by 85.0% during 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 boosted its holdings in shares of Amphenol by 831.2% during the 3rd 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 last quarter. Sunrise Financial Services LLC lifted its position in shares of Amphenol by 100.0% during the 3rd 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 last quarter. NFSG Corp purchased a new position in shares of Amphenol during the 3rd quarter worth approximately $28,000. Finally, Wilkerson Advisory Group LLC increased its position in shares of Amphenol by 57.4% during the first quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker's stock worth $29,000 after acquiring an additional 85 shares during the last quarter. Institutional investors own 97.01% of the company's stock.

Wall Street Analysts Forecast Growth

APH has been the subject of a number of research analyst reports. Erste Group Bank started coverage on shares of Amphenol in a research note on Wednesday, October 21st. They issued a "buy" rating for the company. Wolfe Research started coverage on Amphenol in a research note on Wednesday, September 30th. They issued an "outperform" rating and a $105.00 price target for the company. The Goldman Sachs Group reissued a "buy" rating and set a $116.00 price target (up from $102.00) on shares of Amphenol in a research report on Tuesday, October 6th. Barclays increased their price target on shares of Amphenol from $100.00 to $111.00 and gave the stock an "overweight" rating in a research report on Monday, November 2nd. Finally, BNP Paribas Exane upped their target price on Amphenol from $110.00 to $115.00 and gave the company an "outperform" rating in a report on Thursday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Amphenol currently has an average rating of "Buy" and an average price target of $108.32.

Amphenol Stock Performance

APH stock opened at $74.67 on Friday. The stock has a market capitalization of $184.39 billion, a PE ratio of 32.06, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99. The stock's 50 day simple moving average is $81.29 and its 200 day simple moving average is $75.53. Amphenol Corporation has a 12-month low of $59.01 and a 12-month high of $89.93.

Amphenol (NYSE:APH - Get Free Report) last released its quarterly earnings data 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 analyst estimates of $9.49 billion. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business's quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.93 earnings per share. As a group, research analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

The company also recently declared 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 annualized dividend 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 dividend payout ratio (DPR) is presently 21.74%.

Amphenol declared that its Board of Directors has initiated a share buyback plan on Wednesday, October 28th that authorizes the company to repurchase $4 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In other news, CEO Richard Norwitt sold 799,576 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer directly owned 3,855,014 shares of the company's stock, valued at $317,961,554.72. This trade represents a 17.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is owned by company 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.

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.