51,530 Amphenol Corporation $APH Shares Purchased by Fulcrum Asset Management LLP

Key Points

• Fulcrum Asset Management increased its Amphenol stake by 113.9%, buying 51,530 shares to hold 96,771 shares valued at about $8.16 million. Institutional investors and hedge funds owned 97.01% of the stock.
• Amphenol reported quarterly EPS of $0.80, beating the $0.73 consensus, while revenue rose 65.1% year over year to $10.23 billion.
• The company authorized up to $4 billion in share repurchases, while reducing its quarterly dividend from $0.25 to $0.15 per share.

Fulcrum Asset Management LLP grew its position in Amphenol Corporation (NYSE:APH - Free Report) by 113.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,771 shares of the electronics maker's stock after purchasing an additional 51,530 shares during the period. Fulcrum Asset Management LLP's holdings in Amphenol were worth $8,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vaquero Private Wealth Ltd. bought a new stake in Amphenol in the 2nd quarter valued at approximately $32,000. Clal Insurance Enterprises Holdings Ltd boosted its position in Amphenol by 85.0% during the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker's stock worth $25,000 after acquiring an additional 91 shares during the last quarter. Tompkins Financial Corp boosted its position in Amphenol by 81.9% during the 2nd quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker's stock worth $37,000 after acquiring an additional 95 shares during the last quarter. Wilkerson Advisory Group LLC grew its stake in shares of 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 acquiring an additional 85 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its stake in shares of Amphenol by 54.5% during the 2nd quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker's stock worth $42,000 after acquiring an additional 85 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Amphenol Stock Up 0.1%

APH stock opened at $74.67 on Monday. 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 business has a 50 day moving average price of $81.29 and a two-hundred day moving average price of $75.53. The company has a market cap of $184.39 billion, a price-to-earnings ratio of 32.47, a P/E/G ratio of 0.89 and a beta of 1.27. Amphenol Corporation has a twelve month low of $59.01 and a twelve month high of $89.93.

Amphenol (NYSE:APH - Get Free Report) last posted its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.07. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The firm had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.49 billion. During the same quarter in the previous year, the firm earned $0.93 EPS. The business's quarterly revenue was up 65.1% on a year-over-year basis. Analysts anticipate that Amphenol Corporation will post 2.84 EPS for the current fiscal year.

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

Amphenol Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. The ex-dividend date is Tuesday, December 22nd. This is a negative change from Amphenol's previous quarterly dividend of $0.25. This represents a $0.60 dividend on an annualized basis and a yield of 0.8%. Amphenol's dividend payout ratio is presently 21.74%.

Insiders Place Their Bets

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the company's stock in a transaction 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 sale, the chief executive officer directly owned 3,855,014 shares of the company's stock, valued at approximately $317,961,554.72. This represents a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.42% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on APH. Erste Group Bank started coverage on shares of Amphenol in a report on Wednesday, October 21st. They issued a "buy" rating on the stock. 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. JPMorgan Chase & Co. raised 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. Zacks Research upgraded shares of Amphenol from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 30th. Finally, Rothschild & Co Redburn cut their price target on shares of Amphenol from $197.00 to $107.00 in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $108.32.

About Amphenol

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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