Amphenol Corporation $APH Shares Purchased by Inscription Capital LLC

Key Points

• Inscription Capital increased its Amphenol stake by 88.9% in the third quarter, ending with 67,449 shares valued at about $5.69 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 maintain a consensus Buy rating and a $108.32 price target.
• The company approved a $4 billion share repurchase plan, while cutting its quarterly dividend from $0.25 to $0.15 per share. The stock was reported down 9.2%.

Inscription Capital LLC raised its holdings in Amphenol Corporation (NYSE:APH - Free Report) by 88.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,449 shares of the electronics maker's stock after buying an additional 31,737 shares during the period. Amphenol comprises about 0.6% of Inscription Capital LLC's holdings, making the stock its 28th largest position. Inscription Capital LLC's holdings in Amphenol were worth $5,686,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in APH. State Street Corp increased its holdings in shares of Amphenol by 24.2% in the 2nd quarter. State Street Corp now owns 71,281,059 shares of the electronics maker's stock valued at $12,107,146,000 after acquiring an additional 13,884,641 shares during the last quarter. Wellington Management Group LLP lifted its stake in Amphenol by 10.5% during the second quarter. Wellington Management Group LLP now owns 16,579,919 shares of the electronics maker's stock worth $2,923,371,000 after purchasing an additional 1,578,248 shares during the last quarter. Corient Private Wealth LP lifted its stake in Amphenol by 3,010.0% during the second quarter. Corient Private Wealth LP now owns 16,437,431 shares of the electronics maker's stock worth $2,898,248,000 after purchasing an additional 15,908,901 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Amphenol by 4.5% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 9,703,604 shares of the electronics maker's stock worth $1,710,939,000 after purchasing an additional 416,388 shares during the last quarter. Finally, Jupiter Topco LLC acquired a new position in Amphenol in the second quarter valued at approximately $1,600,531,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Amphenol news, CEO Richard Norwitt sold 799,576 shares of the business's 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 owned 3,855,014 shares in the company, valued at approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.42% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on APH. Truist Financial increased their price target on shares of Amphenol from $107.50 to $112.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Wolfe Research initiated coverage on shares of Amphenol in a research report on Wednesday, September 30th. They set an "outperform" rating and a $105.00 price objective for the company. Sanford C. Bernstein restated an "outperform" rating and set a $102.00 price objective on shares of Amphenol in a research report on Monday. Wall Street Zen upgraded shares of Amphenol from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Zacks Research raised shares of Amphenol from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 30th. 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $108.32.

Amphenol Stock Down 9.2%

APH opened at $71.73 on Friday. The business's 50-day simple moving average is $81.42 and its 200-day simple moving average is $75.54. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.42 and a current ratio of 1.94. Amphenol Corporation has a one year low of $59.01 and a one year high of $89.93. The stock has a market capitalization of $177.13 billion, a P/E ratio of 31.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27.

Amphenol (NYSE:APH - Get Free Report) last posted 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. The business had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. Amphenol had a return on equity of 42.53% and a net margin of 17.95%. The business's quarterly revenue was up 65.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.93 EPS. Analysts anticipate that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol declared that its Board of Directors has approved a share repurchase plan on Wednesday, October 28th that allows the company to buy back $4 billion in shares. This repurchase authorization allows the electronics maker to purchase up to 2% of its stock through open market purchases. Share repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Amphenol Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Shareholders of record on Tuesday, December 22nd will be paid a $0.15 dividend. This is a decrease 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%. The ex-dividend date is Tuesday, December 22nd. Amphenol's dividend payout ratio (DPR) is presently 21.74%.

Amphenol Profile

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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