Amphenol Corporation $APH Shares Acquired by Brighton Jones LLC

Key Points

• Brighton Jones LLC increased its Amphenol stake 91.2% in the third quarter, ending the period with 51,157 shares worth about $4.3 million. Institutional investors and hedge funds collectively own 97.01% of the stock.
• Amphenol beat quarterly estimates, reporting EPS of $0.80 versus $0.73 expected and revenue of $10.23 billion, up 65.1% year over year. The company also authorized up to $4 billion in share repurchases, while cutting its quarterly dividend from $0.25 to $0.15 per share.
• Analysts’ consensus rating was “Buy,” with an average price target of $108.32. CEO Richard Norwitt sold about 800,000 shares for roughly $65.9 million.

Brighton Jones LLC increased its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 91.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,157 shares of the electronics maker's stock after purchasing an additional 24,405 shares during the period. Brighton Jones LLC's holdings in Amphenol were worth $4,313,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of APH. Vaquero Private Wealth Ltd. acquired a new stake in shares of Amphenol in the second quarter worth about $32,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of 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 in the last quarter. Tompkins Financial Corp boosted its stake in shares of 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 in the last quarter. Wilkerson Advisory Group LLC increased its holdings 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 valued at $29,000 after acquiring an additional 85 shares during the last quarter. Finally, Elevation Wealth Partners LLC raised its stake in shares of Amphenol by 54.5% in the 2nd quarter. Elevation Wealth Partners LLC now owns 241 shares of the electronics maker's stock valued at $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 Price Performance

NYSE:APH opened at $74.67 on Monday. 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 company has a 50-day moving average of $81.29 and a 200-day moving average of $75.53. Amphenol Corporation has a 52 week low of $59.01 and a 52 week high of $89.93. The company has a market capitalization of $184.39 billion, a price-to-earnings ratio of 32.47, a PEG ratio of 0.89 and a beta of 1.27.

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 (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.07. The firm had revenue of $10.23 billion during 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 company's quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. As a group, equities research analysts anticipate that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

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

Amphenol announced that its Board of Directors has approved a share repurchase program on Wednesday, October 28th that authorizes the company to buy back $4 billion in outstanding shares. This buyback authorization authorizes the electronics maker to buy up to 2% of its stock through open market purchases. Share buyback programs are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on APH shares. Erste Group Bank initiated coverage on Amphenol in a report on Wednesday, October 21st. They issued a "buy" rating for the company. UBS Group increased their price target on Amphenol from $105.00 to $111.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Rothschild & Co Redburn dropped their price target on shares of Amphenol from $197.00 to $107.00 in a research report on Friday, October 30th. Barclays upped their price objective on shares of Amphenol from $100.00 to $111.00 and gave the stock an "overweight" rating in a report on Monday, November 2nd. Finally, Wall Street Zen upgraded shares of Amphenol from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, Amphenol currently has an average rating of "Buy" and an average target price of $108.32.

Insiders Place Their Bets

In related news, CEO Richard Norwitt sold 799,576 shares of the firm'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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.42% of the stock is owned by corporate 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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