Amphenol Corporation $APH Stake Raised by Hager Investment Management Services LLC

Key Points

• Hager Investment Management Services increased its Amphenol stake by 90.8% in the third quarter, to 43,787 shares worth about $3.69 million. Institutional investors 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 versus $9.49 billion; revenue rose 65.1% year over year.
• The company reduced its quarterly dividend from $0.25 to $0.15 per share and authorized up to $4 billion in stock repurchases. Analysts’ consensus rating was “Buy,” with an average target price of $108.32.

Hager Investment Management Services LLC grew its stake in Amphenol Corporation (NYSE:APH - Free Report) by 90.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 43,787 shares of the electronics maker's stock after acquiring an additional 20,840 shares during the period. Amphenol comprises 1.7% of Hager Investment Management Services LLC's investment portfolio, making the stock its 17th biggest holding. Hager Investment Management Services LLC's holdings in Amphenol were worth $3,691,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd increased its holdings in Amphenol by 85.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 198 shares of the electronics maker's stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Your Advocates Ltd. LLP raised its position in 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 purchasing an additional 150 shares during the period. Retirement Wealth Solutions LLC lifted its stake in Amphenol by 831.2% during the third quarter. Retirement Wealth Solutions LLC now owns 298 shares of the electronics maker's stock worth $26,000 after purchasing an additional 266 shares in the last quarter. Sunrise Financial Services LLC lifted its stake in Amphenol by 100.0% during the third quarter. Sunrise Financial Services LLC now owns 324 shares of the electronics maker's stock worth $27,000 after purchasing an additional 162 shares in the last quarter. Finally, NFSG Corp purchased a new position in shares of Amphenol during the third quarter worth $28,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Price Performance

Amphenol stock opened at $74.67 on Monday. The firm has a market cap of $184.39 billion, a PE ratio of 32.47, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27. Amphenol Corporation has a 52-week low of $59.01 and a 52-week high of $89.93. The company has a quick ratio of 1.42, a current ratio of 1.94 and a debt-to-equity ratio of 0.99. The company's 50 day moving average is $81.29 and its two-hundred day moving average is $75.53.

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

Amphenol Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Investors of record on Tuesday, December 22nd will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a 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 (DPR) is 21.74%.

Amphenol declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 28th that authorizes the company to repurchase $4 billion in outstanding shares. This repurchase authorization authorizes the electronics maker to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

APH has been the subject of a number of research reports. Weiss Ratings cut Amphenol from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday, October 23rd. Evercore set a $100.00 target price on Amphenol in a research note on Wednesday, October 28th. Truist Financial increased their target price on Amphenol from $107.50 to $112.00 and gave the stock a "buy" rating in a research note on Thursday, October 29th. JPMorgan Chase & Co. raised their target price on Amphenol from $107.00 to $115.00 and gave the company an "overweight" rating in a report on Thursday, October 29th. Finally, TD Cowen dropped their target price on Amphenol from $175.00 to $90.00 and set a "hold" rating for the company in a research report on Wednesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $108.32.

Insider Transactions at Amphenol

In related news, CEO Richard Norwitt sold 799,576 shares of the business'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 transaction, the chief executive officer directly owned 3,855,014 shares of the company's stock, valued at $317,961,554.72. The trade was a 17.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.42% of the company's stock.

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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