52,869 Amphenol Corporation $APH Shares Bought by Torray Investment Partners LLC

Key Points

• Torray Investment Partners increased its Amphenol stake by 89.3%, buying 52,869 shares to reach 112,104 shares valued at about $9.45 million.
• Amphenol reported quarterly earnings of $0.80 per share, beating estimates of $0.73, while revenue rose 65.1% year over year to $10.23 billion.
• The company cut its quarterly dividend from $0.25 to $0.15 per share, while authorizing a $4 billion share repurchase plan.

Torray Investment Partners LLC boosted its holdings in shares of Amphenol Corporation (NYSE:APH - Free Report) by 89.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 112,104 shares of the electronics maker's stock after acquiring an additional 52,869 shares during the quarter. Amphenol makes up approximately 1.2% of Torray Investment Partners LLC's portfolio, making the stock its 28th largest holding. Torray Investment Partners LLC's holdings in Amphenol were worth $9,450,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of APH. Vaquero Private Wealth Ltd. bought a new stake in Amphenol in the second quarter worth $32,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in Amphenol by 85.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker's stock valued at $25,000 after buying an additional 91 shares in the last quarter. Tompkins Financial Corp lifted its position in shares of Amphenol by 81.9% in the second quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker's stock worth $37,000 after buying an additional 95 shares during the last quarter. Wilkerson Advisory Group LLC lifted its position in shares of Amphenol by 57.4% in the first quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker's stock worth $29,000 after buying an additional 85 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its stake in shares of Amphenol by 53.9% during the 1st quarter. Valued Wealth Advisors LLC now owns 234 shares of the electronics maker's stock worth $30,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Amphenol Trading Down 9.2%

Amphenol stock opened at $71.73 on Friday. 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 50-day simple moving average is $81.42 and its 200-day simple moving average is $75.54. The firm 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 52 week low of $59.01 and a 52 week high of $89.93.

Amphenol (NYSE:APH - Get Free Report) last announced its earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter in the prior year, the company earned $0.93 EPS. The firm's revenue for the quarter was up 65.1% compared to the same quarter last year. Equities research analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current year.

Amphenol Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend 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 is presently 21.74%.

Amphenol announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 28th that authorizes the company to repurchase $4 billion in shares. This repurchase authorization authorizes the electronics maker to buy up to 2% of its stock through open market purchases. Share repurchase plans are usually a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on APH shares. Evercore set a $100.00 price objective on Amphenol in a report on Wednesday, October 28th. Erste Group Bank started coverage on Amphenol in a report on Wednesday, October 21st. They issued a "buy" rating for the company. Wolfe Research initiated coverage on Amphenol in a research report on Wednesday, September 30th. They set an "outperform" rating and a $105.00 target price for the company. TD Cowen lowered their price target on Amphenol from $175.00 to $90.00 and set a "hold" rating on the stock in a report on Wednesday, September 9th. Finally, Truist Financial lifted their price target on shares of Amphenol from $107.50 to $112.00 and gave the company a "buy" rating in a research report on Thursday, October 29th. One 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 MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $108.32.

Insider Activity at Amphenol

In other news, CEO Richard Norwitt sold 799,576 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 1.42% of the stock is currently owned by company insiders.

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.

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