Tower Bridge Advisors Buys Shares of 4,000 Amphenol Corporation (NYSE:APH)

Key Points

• Tower Bridge Advisors acquired 4,000 shares of Amphenol Corporation for approximately $262,000 in the first quarter of 2023.
• Amphenol reported a significant year-over-year revenue increase of 56.5%, reaching $5.65 billion, along with an EPS of $0.81 for the quarter, exceeding estimates.
• Analysts have set varying price targets for Amphenol, with some estimating a target as high as $126.00, reflecting overall positive sentiment towards the stock.

Tower Bridge Advisors purchased a new position in shares of Amphenol Corporation (NYSE:APH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,000 shares of the electronics maker's stock, valued at approximately $262,000.

Several other large investors have also recently made changes to their positions in APH. Bank of America Corp DE raised its stake in shares of Amphenol by 294.0% during the fourth quarter. Bank of America Corp DE now owns 24,953,591 shares of the electronics maker's stock worth $1,733,027,000 after acquiring an additional 18,619,417 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Amphenol by 36.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,911,813 shares of the electronics maker's stock worth $4,091,426,000 after acquiring an additional 15,837,407 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Amphenol by 118.4% during the fourth quarter. Janus Henderson Group PLC now owns 7,256,290 shares of the electronics maker's stock worth $503,975,000 after acquiring an additional 3,933,269 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Amphenol by 108.9% during the fourth quarter. Mackenzie Financial Corp now owns 5,564,252 shares of the electronics maker's stock worth $386,437,000 after acquiring an additional 2,900,024 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Amphenol by 2.6% during the fourth quarter. FMR LLC now owns 104,250,575 shares of the electronics maker's stock worth $7,240,202,000 after acquiring an additional 2,643,752 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Amphenol Stock Down 2.1%

Shares of NYSE:APH traded down $2.22 during midday trading on Friday, reaching $104.29. The company's stock had a trading volume of 8,736,054 shares, compared to its average volume of 8,870,272. The firm has a 50 day moving average of $96.99 and a 200-day moving average of $79.62. The firm has a market capitalization of $127.33 billion, a P/E ratio of 41.55, a PEG ratio of 1.78 and a beta of 1.13. The company has a quick ratio of 1.46, a current ratio of 2.02 and a debt-to-equity ratio of 0.61. Amphenol Corporation has a 12-month low of $54.77 and a 12-month high of $108.85.

Amphenol (NYSE:APH - Get Free Report) last released its earnings results on Wednesday, July 23rd. The electronics maker reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.15. The firm had revenue of $5.65 billion for the quarter, compared to the consensus estimate of $5.01 billion. Amphenol had a net margin of 16.90% and a return on equity of 30.58%. The company's revenue was up 56.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.44 EPS. On average, research analysts anticipate that Amphenol Corporation will post 2.36 earnings per share for the current year.

Amphenol Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 8th. Investors of record on Tuesday, September 16th will be paid a $0.165 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.66 dividend on an annualized basis and a yield of 0.6%. Amphenol's payout ratio is presently 26.29%.

Wall Street Analyst Weigh In

Several brokerages recently commented on APH. JPMorgan Chase & Co. lifted their target price on shares of Amphenol from $120.00 to $125.00 and gave the stock an "overweight" rating in a research note on Thursday, July 24th. US Capital Advisors set a $85.00 target price on shares of Amphenol in a research note on Thursday, April 24th. KGI Securities began coverage on shares of Amphenol in a research note on Thursday, June 26th. They issued a "hold" rating on the stock. Citigroup lifted their target price on shares of Amphenol from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Thursday, July 24th. Finally, Evercore ISI boosted their price objective on shares of Amphenol from $105.00 to $110.00 and gave the company an "outperform" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $102.23.

Insider Activity

In related news, VP David M. Silverman sold 100,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $89.09, for a total value of $8,909,000.00. Following the transaction, the vice president owned 12,500 shares in the company, valued at $1,113,625. The trade was a 88.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Michael R. Ivas sold 40,000 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $88.79, for a total transaction of $3,551,600.00. Following the completion of the transaction, the vice president owned 152,412 shares in the company, valued at approximately $13,532,661.48. The trade was a 20.79% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 586,000 shares of company stock worth $52,935,980. 1.67% of the stock is currently owned by company insiders.

Amphenol Profile

Amphenol Corporation, together with its subsidiaries, primarily designs, manufactures, and markets electrical, electronic, and fiber optic connectors in the United States, China, and internationally. It operates through three segments: Harsh Environment Solutions, Communications Solutions, and Interconnect and Sensor Systems.