Aware Super Pty Ltd as trustee of Aware Super Buys 24,460 Shares of Amphenol Corporation $APH

Key Points

• Aware Super initiated a position in Amphenol, buying 24,460 shares valued at approximately $2.06 million in the third quarter. Institutional investors own about 97% of the company’s stock.
• Amphenol reported quarterly EPS of $0.80, above analysts’ $0.73 estimate, and revenue of $10.23 billion, up 65.1% year over year. The company also authorized a $4 billion share buyback.
• Amphenol cut its quarterly dividend from $0.25 to $0.15 per share. Analysts’ consensus rating was “Buy,” with an average price target of $108.32.

Aware Super Pty Ltd as trustee of Aware Super bought a new position in Amphenol Corporation (NYSE:APH - Free Report) during the third quarter, according to the company in its most recent filing with the SEC. The firm bought 24,460 shares of the electronics maker's stock, valued at approximately $2,062,000.

Several other hedge funds have also added to or reduced their stakes in the business. Vaquero Private Wealth Ltd. bought a new position in shares of Amphenol during the second quarter valued at about $32,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of 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 acquiring an additional 91 shares during the last quarter. Tompkins Financial Corp boosted its holdings in Amphenol by 81.9% during the 2nd quarter. Tompkins Financial Corp now owns 211 shares of the electronics maker's stock valued at $37,000 after acquiring an additional 95 shares during the period. Wilkerson Advisory Group LLC boosted its holdings in Amphenol by 57.4% during the 1st quarter. Wilkerson Advisory Group LLC now owns 233 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 85 shares during the period. Finally, Valued Wealth Advisors LLC grew its position in Amphenol by 53.9% during the 1st quarter. Valued Wealth Advisors LLC now owns 234 shares of the electronics maker's stock worth $30,000 after acquiring an additional 82 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Amphenol Stock Down 9.2%

NYSE APH opened at $71.73 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.94 and a quick ratio of 1.42. The stock has a market capitalization of $177.13 billion, a PE ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27. Amphenol Corporation has a 1 year low of $59.01 and a 1 year high of $89.93. The business's 50-day moving average is $81.42 and its 200 day moving average is $75.54.

Amphenol (NYSE:APH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The electronics maker reported $0.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.07. The company had revenue of $10.23 billion for 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%. Amphenol's revenue was up 65.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.93 EPS. Sell-side analysts forecast that Amphenol Corporation will post 2.84 earnings per share for the current year.

Amphenol Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders of record on Tuesday, December 22nd will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.8%. This is a drop 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 presently 21.74%.

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

Analysts Set New Price Targets

APH has been the topic of a number of analyst reports. Wolfe Research initiated coverage on Amphenol in a research note on Wednesday, September 30th. They issued an "outperform" rating and a $105.00 price target on the stock. UBS Group increased their price objective on Amphenol from $105.00 to $111.00 and gave the company a "buy" rating in a research note on Thursday, October 29th. Wall Street Zen upgraded shares of Amphenol from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. The Goldman Sachs Group restated a "buy" rating and issued a $116.00 target price (up from $102.00) on shares of Amphenol in a report on Tuesday, October 6th. Finally, Evercore set a $100.00 target price 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 assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $108.32.

Insider Activity

In other 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 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 approximately $317,961,554.72. The trade was a 17.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.42% of the company's stock.

About Amphenol

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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