Amphenol Corporation $APH Shares Acquired by Candriam S.C.A.

Key Points

• Candriam S.C.A. increased its Amphenol stake by 151.1% in the third quarter, ending the period with 213,980 shares worth about $18.1 million. Institutional investors collectively owned 97.01% of the company’s stock.
• Amphenol reported quarterly revenue of $10.23 billion and EPS of $0.80, beating analyst estimates; revenue rose 65.1% year over year. The board also authorized up to $4 billion in share repurchases.
• CEO Richard Norwitt sold 799,576 shares for about $65.9 million, reducing his position by 17.18%. Amphenol also cut its quarterly dividend from $0.25 to $0.15 per share.

Candriam S.C.A. lifted its stake in Amphenol Corporation (NYSE:APH - Free Report) by 151.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 213,980 shares of the electronics maker's stock after purchasing an additional 128,771 shares during the quarter. Candriam S.C.A.'s holdings in Amphenol were worth $18,104,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Purus Wealth Management LLC lifted its holdings in shares of Amphenol by 3.7% in the 2nd quarter. Purus Wealth Management LLC now owns 1,801 shares of the electronics maker's stock worth $318,000 after acquiring an additional 65 shares during the last quarter. Cornerstone Financial Management LLC boosted its stake in shares of Amphenol by 27.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 304 shares of the electronics maker's stock worth $54,000 after purchasing an additional 65 shares during the period. Ferguson Wellman Capital Management Inc. grew its holdings in Amphenol by 3.8% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 1,980 shares of the electronics maker's stock valued at $250,000 after purchasing an additional 72 shares during the last quarter. Guardian Wealth Advisors LLC NC grew its holdings in Amphenol by 0.5% during the 2nd quarter. Guardian Wealth Advisors LLC NC now owns 14,211 shares of the electronics maker's stock valued at $2,506,000 after purchasing an additional 72 shares during the last quarter. Finally, Knuff & Co LLC raised its position in Amphenol by 1.3% in the 2nd quarter. Knuff & Co LLC now owns 5,675 shares of the electronics maker's stock worth $1,001,000 after purchasing an additional 75 shares during the period. Institutional investors own 97.01% of the company's stock.

Insider Transactions at Amphenol

In other Amphenol 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 transaction, the chief executive officer directly owned 3,855,014 shares in the company, 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 through the SEC website. 1.42% of the stock is currently owned by company insiders.

Amphenol Price Performance

Amphenol stock opened at $74.67 on Monday. The stock has a market cap of $184.39 billion, a price-to-earnings ratio of 32.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The firm has a 50-day moving average of $81.29 and a two-hundred day moving average of $75.53.

Amphenol (NYSE:APH - Get Free Report) last issued its 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. Amphenol had a net margin of 17.95% and a return on equity of 42.53%. The business had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.49 billion. During the same period in the prior year, the firm earned $0.93 EPS. The company's revenue for the quarter was up 65.1% compared to the same quarter last year. On average, research analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current year.

Amphenol declared that its board has initiated a share repurchase program on Wednesday, October 28th that permits the company to buy back $4 billion in outstanding shares. This buyback authorization permits the electronics maker to purchase up to 2% of its stock through open market purchases. Share buyback programs are often a sign that the company's board believes its shares are undervalued.

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 annualized dividend and a yield of 0.8%. This is a decrease 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 currently 21.74%.

Analyst Upgrades and Downgrades

APH has been the subject of several analyst reports. Barclays raised their price objective on shares of Amphenol from $100.00 to $111.00 and gave the stock an "overweight" rating in a research note on Monday, November 2nd. JPMorgan Chase & Co. increased their price target on Amphenol from $107.00 to $115.00 and gave the stock an "overweight" rating in a report on Thursday, October 29th. Wolfe Research started coverage on Amphenol in a report on Wednesday, September 30th. They issued an "outperform" rating and a $105.00 price target on the stock. Robert W. Baird decreased their price target on Amphenol from $190.00 to $105.00 and set an "outperform" rating for the company in a research note on Tuesday, October 6th. Finally, TD Cowen dropped their price objective on Amphenol from $175.00 to $90.00 and set a "hold" rating for the company in a report on Wednesday, September 9th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target 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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