Amphenol Corporation $APH Shares Bought by Paragon Advisors LLC

Key Points

• Paragon Advisors increased its Amphenol stake by 119.7% in the third quarter, to 67,894 shares valued at about $5.7 million. Institutional investors and hedge funds collectively own 97.01% of the stock.
• Amphenol beat quarterly earnings and revenue estimates, with revenue up 65.1% year over year. Analysts’ consensus rating was Buy, with an average price target of $108.32.
• The company lowered its quarterly dividend from $0.25 to $0.15 per share, while authorizing a $4 billion share-repurchase program covering up to 2% of shares.

Paragon Advisors LLC lifted its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 119.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 67,894 shares of the electronics maker's stock after purchasing an additional 36,985 shares during the period. Amphenol comprises about 1.1% of Paragon Advisors LLC's holdings, making the stock its 22nd largest position. Paragon Advisors LLC's holdings in Amphenol were worth $5,723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd lifted its stake in Amphenol by 85.0% in 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 during the last quarter. Your Advocates Ltd. LLP boosted its holdings in shares of Amphenol by 100.0% in the third quarter. Your Advocates Ltd. LLP now owns 300 shares of the electronics maker's stock valued at $25,000 after acquiring an additional 150 shares during the period. Retirement Wealth Solutions LLC boosted its holdings in shares of Amphenol by 831.2% in the third quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker's stock valued at $26,000 after acquiring an additional 266 shares during the period. Sunrise Financial Services LLC boosted its holdings in shares of Amphenol by 100.0% in the third quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker's stock valued at $27,000 after acquiring an additional 162 shares during the period. Finally, NFSG Corp purchased a new position in shares of Amphenol during the third quarter worth approximately $28,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Truist Financial lifted their target price on shares of Amphenol from $107.50 to $112.00 and gave the company a "buy" rating in a report on Thursday, October 29th. Erste Group Bank assumed coverage on shares of Amphenol in a research note on Wednesday, October 21st. They set a "buy" rating for the company. BNP Paribas Exane increased their price target on shares of Amphenol from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, October 29th. The Goldman Sachs Group reissued a "buy" rating and set a $116.00 price objective (up from $102.00) on shares of Amphenol in a research report on Tuesday, October 6th. Finally, Evercore set a $100.00 price objective on shares of Amphenol in a research note on Wednesday, October 28th. One 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 stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $108.32.

Insider Buying and Selling at Amphenol

In other 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 transaction, the chief executive officer directly owned 3,855,014 shares of the company's stock, valued at $317,961,554.72. This represents a 17.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.42% of the stock is currently owned by company insiders.

Amphenol Stock Up 0.1%

APH opened at $74.67 on Monday. 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 12 month low of $59.01 and a 12 month high of $89.93. The stock has a market capitalization of $184.39 billion, a P/E ratio of 32.47, a P/E/G ratio of 0.89 and a beta of 1.27. The business has a 50 day simple moving average of $81.29 and a 200-day simple moving average of $75.53.

Amphenol (NYSE:APH - Get Free Report) last announced 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 return on equity of 42.53% and a net margin of 17.95%. Amphenol's quarterly revenue was up 65.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 earnings per share. On average, equities analysts anticipate that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol Cuts Dividend

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

Amphenol announced that its board 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 shares through open market purchases. Share buyback programs are often a sign that the company's leadership believes its stock is undervalued.

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.

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