First Nebraska Trust Co Acquires New Holdings in Amphenol Corporation $APH

Key Points

• First Nebraska Trust Co. opened a new Amphenol position, buying 59,384 shares worth approximately $5.0 million in the third quarter. Institutional investors and hedge funds collectively own about 97% of the stock.
• Amphenol’s latest quarterly results beat estimates: earnings were $0.80 per share versus $0.73 expected, while revenue reached $10.23 billion and rose 65.1% year over year. The company also authorized up to $4 billion in share repurchases.
• Analysts’ consensus rating is Buy, with an average price target of $108.32. Amphenol reduced its quarterly dividend to $0.15 per share from $0.25.

First Nebraska Trust Co bought a new position in shares of Amphenol Corporation (NYSE:APH - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 59,384 shares of the electronics maker's stock, valued at approximately $5,006,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Amphenol by 24.2% in the second quarter. State Street Corp now owns 71,281,059 shares of the electronics maker's stock worth $12,107,146,000 after purchasing an additional 13,884,641 shares during the period. Wellington Management Group LLP raised its position in shares of Amphenol by 10.5% in 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 buying an additional 1,578,248 shares in the last quarter. Corient Private Wealth LP boosted 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 valued at $2,898,248,000 after buying an additional 15,908,901 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $1,710,939,000 after buying an additional 416,388 shares during the period. Finally, Jupiter Topco LLC purchased a new position in Amphenol during the second quarter worth about $1,600,531,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

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 value of $65,949,028.48. Following the completion of the sale, the chief executive officer owned 3,855,014 shares of the company's stock, valued at approximately $317,961,554.72. This represents a 17.18% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.42% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on APH shares. BNP Paribas Exane upped their target price on Amphenol from $110.00 to $115.00 and gave the stock an "outperform" rating in a research note on Thursday, October 29th. Truist Financial boosted their price objective on Amphenol from $107.50 to $112.00 and gave the stock a "buy" rating in a report on Thursday, October 29th. Evercore set a $100.00 price objective on shares of Amphenol in a research report on Wednesday, October 28th. Barclays raised 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. Finally, Wall Street Zen upgraded shares of Amphenol from a "hold" rating to a "buy" rating in a research report on Saturday, August 8th. 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 company. According to data from MarketBeat, Amphenol has a consensus rating of "Buy" and a consensus price target of $108.32.

Amphenol Price Performance

APH opened at $71.73 on Friday. The company has a current ratio of 1.94, a quick ratio of 1.42 and a debt-to-equity ratio of 0.99. The stock has a market capitalization of $177.13 billion, a P/E ratio of 31.19, a PEG ratio of 0.94 and a beta of 1.27. The stock has a 50-day moving average price of $81.42 and a 200-day moving average price of $75.54. 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 released its earnings results 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 company 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%. Amphenol's quarterly revenue was up 65.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.93 EPS. Equities analysts predict that Amphenol Corporation will post 2.84 earnings per share for the current fiscal year.

Amphenol announced that its board has initiated a stock repurchase plan on Wednesday, October 28th that allows the company to repurchase $4 billion in shares. This buyback authorization allows the electronics maker to buy up to 2% of its shares through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.

Amphenol Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 13th. Stockholders 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 dividend yield of 0.8%. The ex-dividend date is Tuesday, December 22nd. This is a negative change from Amphenol's previous quarterly dividend of $0.25. Amphenol's dividend payout ratio (DPR) is presently 21.74%.

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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