Amphenol Corporation $APH Stock: Brady Family Wealth LLC Increases Stake

Key Points

• Brady Family Wealth increased its Amphenol stake by 121.7% in the third quarter, ending the period with 54,344 shares valued at about $4.58 million. Several other funds also added shares; institutional investors own roughly 97% of the stock.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $108.32. Amphenol beat quarterly earnings and revenue expectations, reporting $0.80 EPS and $10.23 billion in revenue.
• Shares were reported down 9.2%, while the company cut its quarterly dividend from $0.25 to $0.15 per share and authorized a $4 billion share repurchase program. CEO Richard Norwitt also sold about 800,000 shares.

Brady Family Wealth LLC boosted its position in shares of Amphenol Corporation (NYSE:APH - Free Report) by 121.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,344 shares of the electronics maker's stock after acquiring an additional 29,830 shares during the period. Amphenol accounts for 1.4% of Brady Family Wealth LLC's investment portfolio, making the stock its 27th biggest holding. Brady Family Wealth LLC's holdings in Amphenol were worth $4,581,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. StrongBox Wealth LLC boosted its stake in Amphenol by 935.6% during the 3rd quarter. StrongBox Wealth LLC now owns 7,063 shares of the electronics maker's stock valued at $595,000 after purchasing an additional 6,381 shares during the period. QTR Family Wealth LLC increased its position in Amphenol by 89.7% in the 3rd quarter. QTR Family Wealth LLC now owns 4,438 shares of the electronics maker's stock worth $374,000 after buying an additional 2,098 shares during the period. Platform Technology Partners increased its position in Amphenol by 148.0% in the 3rd quarter. Platform Technology Partners now owns 10,573 shares of the electronics maker's stock worth $891,000 after buying an additional 6,309 shares during the period. Inscription Capital LLC lifted its holdings in shares of Amphenol by 88.9% during the third quarter. Inscription Capital LLC now owns 67,449 shares of the electronics maker's stock worth $5,686,000 after buying an additional 31,737 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. boosted its position in shares of Amphenol by 237.5% in the third quarter. Quest 10 Wealth Builders Inc. now owns 621 shares of the electronics maker's stock valued at $52,000 after acquiring an additional 437 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on APH shares. Rothschild & Co Redburn lowered their price objective on shares of Amphenol from $197.00 to $107.00 in a research note on Friday, October 30th. Barclays upped their target price on shares of Amphenol from $100.00 to $111.00 and gave the company an "overweight" rating in a research note on Monday. Royal Bank Of Canada set a $100.00 price target on shares of Amphenol in a report on Monday, October 26th. Wall Street Zen raised shares of Amphenol from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Finally, Truist Financial raised their price target on shares of Amphenol from $107.50 to $112.00 and gave the stock a "buy" rating in a research report on Thursday, October 29th. 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. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $108.32.

Insider Buying and Selling

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 value 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. This trade represents a 17.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.42% of the stock is currently owned by company insiders.

Amphenol Trading Down 9.2%

Amphenol stock opened at $71.73 on Friday. The business has a 50 day moving average price of $81.42 and a two-hundred day moving average price of $75.54. 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 stock has a market cap of $177.13 billion, a price-to-earnings ratio of 31.19, a price-to-earnings-growth ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a 12 month low of $59.01 and a 12 month high of $89.93.

Amphenol (NYSE:APH - Get Free Report) last announced its quarterly earnings data 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 return on equity of 42.53% and a net margin of 17.95%. The company had revenue of $10.23 billion during the quarter, compared to the consensus estimate of $9.49 billion. During the same quarter last year, the company earned $0.93 EPS. The company's quarterly revenue was up 65.1% on a year-over-year basis. As a group, equities analysts forecast that Amphenol Corporation will post 2.84 EPS for the current year.

Amphenol Cuts Dividend

The company also recently announced 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. The ex-dividend date is Tuesday, December 22nd. This is a negative change from Amphenol's previous quarterly dividend of $0.25. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.8%. Amphenol's dividend payout ratio is currently 21.74%.

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

Amphenol Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.